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France

Third-party costs in security interests in France

France

1. Is notarisation required and are fees payable?

No, except real estate.

2. Do the following securities / deeds require to be registered in the Local Property Register and what fees are payable? 

2.1 Pledge over financial instrument account (SA or SAS) 

No.

2.2 Pledge over shares in a limited liability company (SARL) 

No.

2.3 Pledge over shares in a civil company (société civile) 

No.

2.4 Pledge over (bank) accounts 

No.

2.5 Security assignment / pledge of receivables 

No.

2.6 Pledge of a business (nantissement de fonds de commerce) 

No.

2.7 Pledge over fixed asset (without dispossession) (gage de meubles corporels sans depossession) 

No.

2.8 Pledge over inventory (without dispossession) (gage sur stocks sans dépossession) 

No.

2.9 Mortgage 

Yes, a registration with the land charge registry where the mortgaged property is located is required. Registration involves the payment of certain registration taxes:

  • land registry tax: 0.70% of the secured amount (principal and accessories – i.e. default interest, commissions, costs and fees),
  • registration fee: 0.05% of secured amount (principal and accessories – i.e. default interest, commissions, costs and fees).

2.10 Guarantee / letter of comfort 

No.

3. Do the following securities / deeds require to be registered at the local Registrar of Companies and what fees are payable? 

3.1 Pledge over financial instrument account (SA or SAS) 

No.

3.2 Pledge over shares in a limited liability company (SARL) 

Yes, fixed registration fee is payable, depending on the amount of the secured liabilities:

  • up to EUR 20,800, registration fee: EUR 25.20
  • from EUR 20,800 to EUR 41,600, registration fee: EUR 96.34
  • from EUR 41,600, registration fee: EUR 142.28

3.3 Pledge over shares in a civil company (société civile)

Yes, fixed registration fee is payable, depending on the amount of the secured liabilities:

  • up to EUR 20,800, registration fee: EUR 35.60
  • from EUR 20,800 to EUR 41,600, registration fee: EUR 106.74
  • from EUR 41,600, registration fee: EUR 152.69

3.4 Pledge over (bank) accounts 

No.

3.5 Security assignment / pledge of receivables 

No.

3.6 Pledge over business (nantissement de fonds de commerce) 

Yes, fixed registration fee is payable, for each filing with the clerk of the Commercial Court in each judicial district where the pledgor has an establishment, depending on the amount of the secured liabilities:

  • up to EUR 20,800, registration fee: EUR 25.20
  • from EUR 20,800 to EUR 41,600, registration fee: EUR 96.34
  • from EUR 41,600, registration fee: EUR 142.28

Registration of pledge over IP rights (27 euros per trademark, patent, design and model or 52 euros for speed procedure) must be made with INPI (Institut National de la Propriété Intellectuelle).

3.7 Pledge over fixed asset (without dispossession) (gage de meubles corporels sans dépossession) 

Yes, fixed registration fee is payable, for each filing with the clerk of the Commercial Court in each judicial district where assets are located, depending on the amount of the secured liabilities:

  • up to EUR 7,800, registration fee: EUR 13.38
  • from EUR 7,800 to EUR 20,800, registration fee: EUR 25.24
  • from EUR 20,800, registration fee: EUR 69.70

3.8 Pledge over inventory (without dispossession) (gage sur stocks sans dépossession) 

Yes, fixed registration fee is payable, for each filing with the clerk of the Commercial Court in each judicial district where inventory is located, depending on the amount of the secured liabilities:

  • up to EUR 20,800, registration fee: EUR 25.20
  • from EUR 20,800 to EUR 41,600, registration fee: EUR 96.34
  • from EUR 41,600, registration fee: EUR 142.28

3.9 Mortgage 

No.

3.10 Guarantee / letter of comfort 

No.

Please note that while the information on this page was current and accurate as at 16/9/16, it may no longer be current or accurate and so you must speak to your local CMS Banking contact if you require confirmation of any of the costs or fee levels as at today’s date!