Cryptolicense in France: A Comprehensive Guide

France stands out as an exclusive jurisdiction for obtaining a cryptocurrency license for your business. As one of the leading European countries, a member of G7 & G20, France maintains its position as a world leader in innovation and tech spheres. And surely, this position is reinforced by the stringent regulations it imposes.

Service providers in France are named DASP, Digital Asset Service Provider

Key Numbers about Cryptolicense in France

minimum 2

individuals are requred for a legal entity

0%

personal income tax (PIT) rate starts from

€50,000

minimal share capital for DASPs

25%

corporate income tax (CIT) rate

€23,500

the average amount application fee for cryptolicense

20%

value added tax (VAT) rate

Legal Opinion about Cryptolicense in France

Ganna Voievodina

Manimama, CEO

"As CEO of Manimama OU, I firmly believe that obtaining a crypto license in France is not only a prudent decision but a truly impactful one. Despite potential expenses, France has positioned itself as a premier destination for innovation, particularly in the burgeoning fields of blockchain and cryptocurrency. Acquiring a crypto license here provides with access to a dynamic ecosystem that nurtures growth and innovation."

Types of Activities with a License

Exchange crypto to crypto: VASPs are authorized to facilitate the exchange of various virtual assets, including utility tokens and coins, ensuring diversified trading options.

Custodial wallet services: VASPs, through custodial wallets, offer a secure means of storing cryptocurrencies on behalf of users, with operators having the ability to open wallets while maintaining control over private keys.

Crypto transfers: VASPs are authorized to facilitate the secure transfer of cryptocurrencies from clients' wallets to designated third-party wallets, presenting an alternative to traditional fiat wire transfers.

Account statements issuing: VASPs have the right to reflect the balance and issue the account and transaction statements.

Exchange crypto to fiat and fiat to crypto: VASPs enable the conversion between cryptocurrency and fiat currencies, offering customers the flexibility to transact in multiple currencies.

Crypto processing and crypto acquiring: VASPs hold the capability to conduct the service allowing merchants to accept crypto as a payment with a consequent transfer of crypto to the merchant or conversion it to fiat.

On-ramp and off-ramp services: VASPs have the wide opportunities for the business development including providing B2B services as on-ramp, off-ramp, white label products which Manimama is ready to help to launch including payment service providers connection.

Token sales: The last but not the least! VASPs are authorized to conduct ICO offering the utility and limited-use e-money token.

Choose the Package of Services

Advanced

Exhaustive set up of company infrastructure for the start of operational activity

€17,000

  • Company formation in France
  • Registration of the beneficial owner
  • Registered address for 1 year
  • Registering share capital
  • Obtaining DASP status
  • Apostiled corporate documents
  • Individual AML/KYC policies
  • Full support of the application during the assessment by the regulator
Order now

Basic

Obtaining DASP status under the minimum regulatory requirements

€15,000

  • Company formation in France
  • Registration of the beneficial owner
  • Registered address for 1 year
  • Registering share capital
  • Obtaining DASP status
  • Standart AML/KYC policies
Order now

Connect with our experts

By clicking the button, I confirm that I have read the privacy policy and consent to the collection and processing of my personal data in accordance with the GDPR rules.

Our Experts in this Area

Step by Step Description

Step 1. Preparation stage

Preliminary project analysis and preparation of power of attorney for client attestation, consultations as for French law, gathering documents from the client to start the process of company incorporation and obtaining the license

Step 2. Applying for initial approval

Preparing all necessary documents and submiting them to The Autorité des marchés financiers (AMF). The initial approval is conducted prior to the submission of the application in order to confirm the legal classification of the activities being carried out and the maturity of the project

Step 3. Applying for the DASP status

Creation of individual set of documents which mainly separated to information about the company, directors and shareholders, custody policy, program of operations and cybersecurity actions

Step 4. Obtaining the DASP status

Obtaining the DASP status and entering the company into the AMF register of cryptocurrency companies

Understanding the French Requirements

The French Monetary and Financial Code provides a broad definition of the concept of digital assets, which includes all possible virtual currencies. In the country, there is a lack of differentiation regarding digital assets. All activities related to them are associated with digital asset service providers. To obtain this status, the process involves engagement with both the AMF and the ACPR (Autorité de contrôle prudentiel et de résolution). This procedure mostly handled by the AMF which assesses and verifies the reputation and competence of managers and beneficial owners of the organization and requests permission from the ACPR.

To obtain DASP status in France it is a must to complete registration. Authorization is additional and not obligitary

Requirements for obtaining the DASP status

The amount of contribution is set at: €1,000 for registered DASPs; €2,000 for authorised DASPs

In order to receive AMF/ACPR approval and obtain DASP status, an applicant must meet the following requirements:

  • have at least 2 individual (directors and shareholders)
  • complete additional verification for directors and shareholders, mainly to suit the responsibility and qualification requirements
  • have minimum amount of authorized capital, which depends on the type of activity
  • have a developed custody police
  • have a developed program of operations
  • comply with AML/CTF and cybersecurity requirements
  • pay the contribution for DASP's registration / authorisation
  • Taxes in France

    France currently has 3 main taxes:
    • Corporate Income Tax (CIT)
    • Personal Income Tax (PIT)
    • Value Added Tax (VAT)

    CIT rate is 25%.

    PIT rates for residents are progressive from 0% to 45% with surtax 3% on the income that exceeds € 250,000 for a single person and € 500,000 for a married couple and of 4% for income that exceeds € 500,000 for a single person and € 1,000,000 for a married couple.

    For non-residence PIT rates are 20% for the income does not exceed € 275,199 and 30% if it exceeds, totally.

    Standart rate for VAT is 20%.

    The tax system in France is characterized by the progressive rates of personal income tax and more stable rates for corporate income tax and VAT

    Client Feedbacks

    "Manimama has proven itself to be a reliable business partner, and the quality of their legal services is beyond praise".

    “I value Manimama OU as legal advisors for their thorough understanding of cryptoregulation and excellent quality of legal services.”

    “Our success in obtaining licenses was made possible largely thanks to Manimama OU.”

    Our Latest Legal Researches

    How to obtain a cryptocurrency license in the Netherlands

    Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? The following crypto service providers are regulated in the Netherlands, according to the Money Laundering and Terrorist Financing Prevention Act: At the moment the entities who offer crypto-to-crypto exchanges are still not regulated. Who is the VASP regulator? What is the…

    April / 18 / 2024
    Read more

    How to obtain a cryptocurrency license in Malta

    Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? VFA license types: Who is the VASP regulator? What is the procedure for registering a VASP for a local company? 1. Establishing a Company. If the company operates from outside Malta, it must have a branch in Malta with its registered…

    April / 16 / 2024
    Read more

    How to obtain a cryptocurrency license in Luxembourg

    Tax Summary: What law/s governs VASP activities? What activities are included in VASP services? Who is the VASP regulator? What is the procedure for registering a VASP for a local company? Entities established in Luxembourg or providing services in Luxembourg cannot offer virtual asset services without registration with CSSF, as provided for in Article 7-1(1)…

    April / 11 / 2024
    Read more

    Contact Us

    If our proposal is intriguing, we kindly request to complete the form provided below to learn more. By doing so, we guarantee access to a comprehensive commercial personalized offer, featuring up-to-date prices and detailed information.

    We look forward to the opportunity of collaborating and delivering exceptional solutions that meet and exceed expectations of any Client.

    The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.