Types of Business Entity - France

France

• Micro-entreprise: special framework for minute businesses, a recent addition to French business law -with both revenue and pre-tax net income caps, of which Auto-entrepreneur (below) is a special case
• Freelancers, individual independent contractors:
  • Auto-entrepreneur: ≈ self-employed (UK), independent contractor (US), a recent addition to French business law -with both a revenue cap and a specific set of derogatory income tax rates
  • Profession libérale: ≈ sole proprietorship such as a medical practice, an enduring entity stemming from the protected status designed for "liberal professions" with unlimited personal liability
  • Sociétés d'exercice libéral: the incorporated equivalent of the latter, sole shareholder limited liability being key
  • EI (Entreprise individuelle/entreprise en nom personnel):
  • EURL, SASU (U- unipersonnelle): limited liability, sole shareholder Ltd. company (UK) or single member close corporation
• Investment funds/companies:
  • FCP (Fond commun de placement): unincorporated investment fund
  • Société d'investissement à capital fixe: ≈ investment trust (UK); closed-end fund (CEF), closed-end company (US); listed investment company (LIC) (Au)
  • SICAV (Société d'investissement à capital variable): ≈ investment company with variable capital (ICVC), open-ended investment company (OEIC) (UK); mutual fund, open-end company (US)
• GIE (Groupement d'intérêt économique): economic interest grouping
• Association: ≈ nonprofit association
  • Association non-déclarée: ≈ unincorporated association (UK)
  • Association déclarée: ≈ incorporated association (Au)
• Partnerships (société de personnes):
  • SEP (Société en participation): ≈ equity partnership
  • SNC (Société en nom collectif): ≈ general partnership (GP)
  • SCS (Société en commandite simple): ≈ limited partnership (LP)
  • SCA (Société en commandite par actions): ≈ publicly traded partnership (PTP) (US)
• Companies (société de capitaux):
  • SARL, SàRL (Société à responsabilité limitée): ≈ private limited company (Ltd.) (UK), limited liability company (US)
    • EURL (Entreprise unipersonnelle à responsabilité limitée): ≈ single shareholder limited company (SME Pvt) (UK)
  • stock companies (société par actions)
    • SA (Société anonyme): ≈ public limited company (plc) (UK), corporation (US/Can)
      • SCOP (Société coopérative de production): ≈ cooperative corporation (Can)
      • SEM (Société d'économie mixte): ≈ government-owned corporation
    • SAS (Société par actions simplifiée): ≈ unlisted public company (Au), close corporation (CC) (S.Africa), private corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can be restricted to director; no "one share - one vote" principle