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French Southern Territories

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About

French Southern Territories

Capital
Official languages
Population 
Currency

ISO 4217

None

French

No permanent population

French Southern and Antarctic Territories

FR

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Economy

"The French Southern Territories is an overseas territory of France located in the southern Indian Ocean. It is composed of several islands, including the Kerguelen Islands, Crozet Islands, and the Scattered Islands. The economy of the French Southern Territories is largely dependent on fishing and tourism.

In terms of GDP, the French Southern Territories had a GDP of $25.3 million in 2018, according to the World Bank. This is a decrease from the 2017 GDP of $27.2 million. The GDP per capita was $3,845 in 2018, which is a decrease from the 2017 GDP per capita of $4,093.

The unemployment rate in the French Southern Territories was 8.2% in 2018, according to the International Labour Organization. This is a decrease from the 2017 unemployment rate of 8.7%.

The main industries in the French Southern Territories are fishing, tourism, and research. The fishing industry is the largest contributor to the economy, accounting for around 40% of the GDP. Tourism is also a major industry, with over 10,000 visitors in 2018. Research is also an important industry, with the French Southern Territories being home to several research stations.

Overall, the economy of the French Southern Territories is small but growing. With its fishing and tourism industries, the French Southern Territories has the potential to become a major economic player in the region."

Taxation

French Southern Territories are a group of islands and territories that are part of France's overseas territories. As such, they are subject to the French tax system.


Corporate Taxation:

Companies in French Southern Territories are subject to French corporate tax laws. The standard French corporate tax rate is 28%. Companies may also be subject to other taxes such as VAT and business tax, depending on the nature of their activities.


Personal Taxation:

Residents of French Southern Territories are subject to the same personal income tax system as mainland France. The French income tax system is progressive, with different tax rates applying to different income brackets. The tax rate starts at 0% for individuals earning up to €10,084 annually, and gradually increases up to 45% for individuals earning over €156,244 annually.


Tax Payment Process:

The French tax year runs from January 1st to December 31st of the same year. Both corporations and individuals are required to file their tax returns annually, with the deadline for filing being in May of the following year. 


To make tax payments, taxpayers must obtain a tax identification number (TIN) from the French tax authorities. Taxpayers can make their payments in person at any authorized bank, online via the French tax authorities' website, or by mail. In addition to income tax, taxpayers may also be subject to other taxes such as property tax and social security contributions.


In summary, the tax system in French Southern Territories is based on the French tax system. Corporations are subject to a standard corporate tax rate of 28%, while individuals are subject to a progressive income tax system ranging from 0% to 45%. The tax year runs from January 1st to December 31st with the deadline for filing tax returns being in May of the following year. Taxpayers can make their payments in person, online, or by mail.

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