Investment firm / broker-dealer · France
Financial investment adviser status (France)
The Conseiller en investissements financiers (CIF) / Financial investment adviser status is issued by Financial Markets Authority (AMF) under Directive 2014/65/EU on markets in financial instruments (MiFID II). It can be passported to the other EU/EEA states by notification. The official register lists 7013 current holders. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Financial investment adviser status1 |
|---|---|
| Local name | Conseiller en investissements financiers (CIF) |
| Also known as | Financial investment adviser (France) |
| Issued by | Financial Markets Authority |
| Jurisdiction | France |
| Licence family | Investment firm / broker-dealer |
| Legal basis | Directive 2014/65/EU on markets in financial instruments (MiFID II)2 Regulation (EU) No 600/2014 on markets in financial instruments (MiFIR)3 Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)4 |
| Passporting | EU/EEA passport available |
| Annual fee | EUR 450 annual contribution to the AMF (Article D. 621-27 II 11°), collected via the single register ORIAS5 |
| Public register | official register1 |
| Current holders | 70131 |
What it lets you do
| Investment advice | Giving personal recommendations to a client about one or more transactions in financial instruments. |
|---|
Where it is valid
Cost
Buying a company that already holds it
Prior approval required. Acquiring or increasing a qualifying holding needs the AMF's prior approval. For portfolio management companies (SGP) the thresholds are 10%, 20%, 33.33% and 50% of capital or voting rights (Code monétaire et financier, Article L. 532-9-1). For crypto-asset service providers MiCA Articles 83 and 84 apply: the thresholds are 20%, 30% and 50%, and the AMF assesses the acquirer within 60 working days of a complete notification.6
IF in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Principal (Category 2) | FSRA | n/a | USD 40,000 | n/a |
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A) | FSRA | n/a | n/a | n/a |
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4) | FSRA | n/a | n/a | n/a |
| Australia | Australian financial services licence (AFSL) | ASIC | n/a | n/a | n/a |
| Bermuda | Investment Business LicenceInvestment Business Licence (standard licence, under the Investment Business Act 2003) | BMA | n/a | n/a | n/a |
| British Virgin Islands | Investment Business LicenceInvestment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments) | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Securities Investment Business Licence / Registered Person | CIMA | n/a | n/a | n/a |
| Cyprus | Cyprus Investment Firm (CIF) authorisation | CySEC | n/a | EUR 7,000 | ~6 mo |
| Czech Republic | Investment Firm licence | CNB | n/a | CZK 20,000 | ~6 mo |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Principal (Category 2) | DFSA | n/a | USD 40,000 | n/a |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A) | DFSA | n/a | USD 25,000 | n/a |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4) | DFSA | n/a | USD 15,000 | n/a |
| Estonia | Authorisation as an investment firm | FI | n/a | EUR 3,000 | ~2 mo |
| France | Financial investment adviser status | AMF | n/a | n/a | n/a |
| Germany | Investment firm licence | BaFin | n/a | EUR 6,336 | ~6 mo |
| Hong Kong | Type 1 Licence for Dealing in Securities | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 2 Licence for Dealing in Futures Contracts | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 4 Licence for Advising on Securities | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 6 Licence for Advising on Corporate Finance | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 7 Licence for Providing Automated Trading Services | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Ireland | Investment Firm Authorisation (MiFID II) | CBI | n/a | n/a | n/a |
| Italy | Investment firm licence (SIM) | CONSOB | n/a | n/a | ~6 mo |
| Latvia | Investment firm licence | LB | n/a | n/a | n/a |
| Lithuania | Financial brokerage firm licence | LB | n/a | n/a | n/a |
| Luxembourg | Investment firm authorisation | CSSF | n/a | EUR 50,000 | ~6 mo |
| Malaysia (Labuan) | Securities Licensee licenceSecurities Licensee licence (dealing in / advising on securities) | Labuan FSA | n/a | n/a | n/a |
| Malta | Investment services licence (Category 1, 2, or 3) | MFSA | n/a | EUR 7,250 | ~6 mo |
| Mauritius | Investment Adviser Licence | FSC | n/a | n/a | n/a |
| Mauritius | Investment Dealer Licence | FSC | n/a | USD 500 | ~0.5 mo |
| Netherlands | Investment firm licenceInvestment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID II | AFM | n/a | EUR 200 | ~3 mo |
| Poland | Brokerage House licence (dom maklerski) | KNF | n/a | EUR 4,500 | ~2 mo |
| Seychelles | Securities Dealer's Licence | FSA | n/a | n/a | n/a |
| Singapore | Capital Markets Services (CMS) Licence | MAS | n/a | SGD 1,000 | n/a |
| Slovakia | Investment firm licence | NBS | n/a | n/a | n/a |
| South Africa | Financial Services Provider licence - Category IFinancial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets) | FSCA | n/a | n/a | n/a |
| South Africa | Financial Services Provider licence - Category II (discretionary FSP) | FSCA | n/a | n/a | n/a |
| South Africa | Over-the-Counter Derivative Provider (ODP) authorisationOver-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets Act | FSCA | n/a | n/a | n/a |
| Spain | AV) investment firm licence | CNMV | n/a | EUR 10,000 | ~6 mo |
| Spain | Empresa de Asesoramiento Financiero (EAF) licence | CNMV | n/a | EUR 1,000 | ~6 mo |
| Switzerland | Portfolio manager licence | FINMA | n/a | n/a | n/a |
| Switzerland | Securities firm licence | FINMA | n/a | n/a | n/a |
| United Kingdom | MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) | FCA | n/a | GBP 2,820 | ~6 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Directive 2014/65/EU on markets in financial instruments: Directive 2014/65/EU
- Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012: Regulation (EU) No 600/2014
- Alternative Investment Fund Managers Directive: Directive 2011/61/EU
- UCITS Directive: Directive 2009/65/EC
Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.
Sources
- amf-france.org: chiffres cles cif 2024 (PDF) · retrieved 2026-09-24
- EUR-Lex: CELEX 32014L0065 · retrieved 2026-09-24
- EUR-Lex: CELEX 32014R0600 · retrieved 2026-09-24
- EUR-Lex: CELEX 32011L0061 · retrieved 2026-09-24
- amf-france.org: 2025 guide des contributions fr modifie coquille (PDF) · retrieved 2026-09-24
- EUR-Lex: CELEX 32023R1114 · retrieved 2026-09-24
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