# side business managing money



## Chrissippus

As I have explained, I expect to enter France under an Irish passport, although that isn't going to be anytime soon unfortunately. However, when that day comes I understand that as an EU citizen I will be able to work immediately in France. For the past few years I have had a small sideline managing the financial assets for a friend, which is to say I have just the one client. Under the SEC rules I don't have to register as an asset manager because of the de minimis exception. I do report the income and I pay US income taxes on it. I would like to report it to the French fisc and pay the taxes and the Sécu as well, but what are the bureaucratic requirements? Would I have to register? If so, what qualifications would be required? I don't plan to have any other clients and certainly none in France. If the requirements are too burdensome I might consider not reporting it to the fisc, since the income is received into a US bank.

I have no other earned income and no other income that would result in net payments to the fisc.


----------



## Bevdeforges

To operate a business, you will need to be registered as some form of business entity - anything from a micro-entreprise to a full blown SARL or SAS - which involves a certain level of paperwork normally done through the local CCI. This is mainly to insure that you are enrolled with the appropriate tax and social insurance authorities and paying into the tax and cotisation system. Start here: https://www.cci.fr/ressources/creation-dentreprise


----------



## Crabtree

You are required to report all world wide income to the French Fisc and you should note that tax authorities exchange info on a regular basis You coukd be fined very heavily and it would put your CDS at risk meaning that you would have to leave France


----------



## 255

@Chrissippus -- Money management in France is regulated, so licensing may be required: Investment firm . I know France developed some expedited licensing procedures for English speakers during Brexit to attract funds from London to Paris. I don't know about the current status of the program. I do not know if France has a de minimis exception, but it would be worth your while to ask the question of the relevant authorities. Cheers, 255


----------



## Chrissippus

255 said:


> @Chrissippus -- Money management in France is regulated, so licensing may be required: Investment firm . I know France developed some expedited licensing procedures for English speakers during Brexit to attract funds from London to Paris. I don't know about the current status of the program. I do not know if France has a de minimis exception, but it would be worth your while to ask the question of the relevant authorities. Cheers, 255


This is the information that I was looking for.


----------

