Clifford Chance
'Financing companies': a new domestic status for credit and lending business in France
16 October 2014
Since 1st October, French non-deposit taking credit institutions do no longer qualify as credit institutions under the French legislation. Now, they shall instead be 'financing companies', a new status created by Ordinance no. 2013 544 of 27 June 2013. For those who did not elect for such status before that date, the new 'specialised' credit institution status is though available, provided that they pursue a deposit-taking business. This briefing note explains the main features of both statuses.
