Answer ... The main advice for fintech player seeking to launch their business in France is to conduct a regulatory assessment of their project as early as possible. Although both the Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) support financial innovation and have created fintech hubs, providing regulated investment, payment or banking services in France without the requisite licence or registration is forbidden. Therefore, regulatory and compliance costs should be taken into account in the business model, and newcomers should be aware that obtaining a licence usually takes between four and 12 months.

Fintech companies which already possess a licence to provide regulated services in another EU or European Economic Area country can also use the ‘passport’ mechanism to provide services in France, without having to apply for a licence to the ACPR or the AMF.