# Conseiller en investissements financiers (CIF) / Financial investment adviser status (France)

Source page: https://protegra.io/licensing/licences/investment-firm/france-cif/

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 | Conseiller en investissements financiers (CIF) / Financial investment adviser status [1] |
| --- | --- |
| Issued by | [Financial Markets Authority](https://protegra.io/licensing/regulators/amf-france/) |
| Jurisdiction | [France](https://protegra.io/licensing/jurisdictions/france/) |
| Licence family | [Investment firm / broker-dealer](https://protegra.io/licensing/licences/investment-firm/) |
| 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 ORIAS [5] |
| Public register | [official register](https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf) [1] |
| Current holders | 7013 [1] |

## What it lets you do

- [Investment advice](https://protegra.io/licensing/activities/investment-advice/)

- **Investment advice.** Giving personal recommendations to a client about one or more transactions in financial instruments.

## Where it is valid

_Issued in France (gold); can be passported to the other EU/EEA states (blue) by notification._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## 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]

## Laws behind it

- [Directive 2014/65/EU on markets in financial instruments](https://protegra.io/licensing/laws/eu-mifid2-2014-65/): 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](https://protegra.io/licensing/laws/eu-mifir-600-2014/): Regulation (EU) No 600/2014
- [Alternative Investment Fund Managers Directive](https://protegra.io/licensing/laws/eu-aifmd-2011-61/): Directive 2011/61/EU
- [UCITS Directive](https://protegra.io/licensing/laws/eu-ucits-2009-65/): Directive 2009/65/EC

## Sources

1. [amf-france.org: chiffres cles cif 2024 (PDF)](https://www.amf-france.org/sites/institutionnel/files/private/2025-12/chiffres-cles-cif-2024.pdf): retrieved 2026-09-24
2. [eur-lex.europa.eu: HTML (32014L0065)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065): retrieved 2026-09-24
3. [eur-lex.europa.eu: HTML (32014R0600)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014R0600): retrieved 2026-09-24
4. [eur-lex.europa.eu: HTML (32011L0061)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32011L0061): retrieved 2026-09-24
5. [amf-france.org: 2025 guide des contributions fr modifie coquille (PDF)](https://www.amf-france.org/sites/institutionnel/files/private/2026-01/2025-guide-des-contributions-fr_modifie-coquille-.pdf): retrieved 2026-09-24
6. [eur-lex.europa.eu: TXT (32023R1114)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.