How to Open a French Bank Account for Your Startup
Opening a bank account is one of the most important and often most frustrating steps for foreign startups setting up in France. Without a local bank account, you cannot deposit share capital, register your company, or pay employees. Yet the process is more complex than in many countries due to strict compliance rules and conservative banking practices. This guide explains how to open a French bank account as a foreign founder, the challenges you will face, and how to accelerate the process.
Why You Need a French Bank Account
Company registration: To create an SAS or SARL, you must deposit initial share capital into a French account and obtain a certificate of deposit.
Local credibility: Clients and suppliers expect payments in euros from a French bank account.
Payroll and taxes: Paying employees and contributions requires a local account.
Access to financing: Grants, loans, and credit from French institutions require local banking.
Step 1: Choose the Right Bank
You have two main categories of banks in France:
Traditional Banks
Examples: BNP Paribas, Société Générale, Crédit Agricole, CIC.
Pros: credibility, full range of services, easier to obtain financing.
Cons: strict compliance, long onboarding, in-person meetings required.
Neobanks and Fintechs
Examples: Qonto, Shine, Manager.one.
Pros: faster onboarding, fully digital, English-speaking interfaces.
Cons: not always accepted for capital deposit, limited financing options.
Best strategy: many startups use a fintech bank like Qonto for fast incorporation, then open an account with a traditional bank later.
Step 2: Prepare Documentation
French banks require extensive KYC (Know Your Customer) documentation. Prepare:
Passport or ID of directors and shareholders.
Proof of address for directors.
Draft of bylaws (statuts).
Business plan or activity description.
Proof of registered office (lease or domiciliation contract).
Parent company documents if a subsidiary (certificate of incorporation, shareholder structure).
Banks want to ensure the company has legitimate activity and no money laundering risk.
Step 3: Deposit Share Capital
To register an SAS or SARL, share capital must be deposited into a blocked account.
Minimum €1, but most founders deposit €1,000–€10,000 for credibility.
The bank issues a certificate of deposit (attestation de dépôt de capital).
Funds remain blocked until company registration is complete.
With the certificate, you can proceed with incorporation at the Commercial Court. Once you receive your company’s K-Bis (official registration), the bank account is fully activated.
Step 4: Activate the Account
After incorporation:
Provide the K-Bis to the bank.
Bank releases share capital into the company account.
Account is now operational for payments, payroll, and invoices.
Common Challenges
Delays: Traditional banks may take 4–6 weeks to open an account.
Refusals: Banks can refuse without explanation if they consider your profile “high risk”.
Language barriers: Many bank staff do not work in English.
Subsidiaries: Extra documentation is needed if the parent is foreign.
Unclear rules: Some fintechs cannot issue valid capital deposit certificates for certain courts.
Workarounds
Use fintech first: Qonto or Shine can issue certificates accepted by most courts. This speeds up incorporation.
Switch later: After incorporation, open an account with a major bank for credibility.
Use a notary: Share capital can be deposited with a French notary if banks delay.
Case Example
A US SaaS company tried to open an account directly with BNP Paribas. After 8 weeks of back and forth, the application was still pending. They switched to Qonto, received a deposit certificate in 3 days, and completed incorporation within 6 weeks. After registration, they opened a BNP account for financing and client credibility.
Timeline
Fintech bank: 3–7 days for account opening and deposit.
Traditional bank: 4–8 weeks.
Notary deposit: 1–2 weeks.
Costs
Fintech banks: €30–€100 per month.
Traditional banks: €50–€200 per month, depending on services.
Notary deposit: €500–€1,000 fees.
Best Practices
Prepare all documents in advance.
Translate parent company documents if required.
Use a fintech for speed, but plan for a traditional account.
Build a banking relationship early to access financing.
Partner with a local expert to avoid refusals and delays.
How morn Helps
MORN simplifies the banking process for foreign founders by:
Recommending the right bank strategy for your profile.
Preparing all documentation in French.
Coordinating capital deposit and certificates.
Managing communication with banks and notaries.
Ensuring account activation without unnecessary delays.
Conclusion
Opening a French bank account is often the most frustrating part of company setup for foreign founders. But with the right strategy, fintech for speed, traditional bank for credibility, you can avoid months of delay.
With morn as your partner, the process becomes predictable and fast, allowing you to focus on hiring and selling instead of waiting for banking approvals.
