French Polynesia Country Summary

French Polynesia is an overseas collectivity of France. Information for France may be included below:

FATF Status

France is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in France was undertaken in 2022. According to that Evaluation, France was deemed Compliant for 19 and Largely Compliant for 18 of the FATF 40 Recommendations. It was rated Highly Effective for 3 and Substantially Effective for 6 of the Effectiveness & Technical Compliance ratings.

French Polynesia, as an overseas collectivity of France, is subject to French laws aimed at combating corruption, including the "Restoring Confidence in Public Life" law and the "Loi Sapin II," which established an anti-corruption agency and enhanced transparency measures. Despite these efforts, concerns remain regarding the effectiveness of enforcement against foreign bribery, as highlighted by the OECD's findings that many recommendations for improvement have not been fully implemented. The French authorities continue to face challenges in prosecuting foreign bribery cases and ensuring that legal frameworks support robust anti-corruption measures.

French Polynesia has a small, tourism-based economy that relies heavily on imports and financial assistance from France, with tourism being the primary driver of economic activity. In 2022, the territory's GDP was approximately $5.815 billion, and despite facing challenges such as a recession due to the COVID-19 pandemic, it has shown resilience and growth in recent years.

The investment climate in French Polynesia benefits from its status as an overseas collectivity of France, providing stability and access to French financial resources. While there are opportunities in tourism and agriculture, particularly in high-quality vanilla and black pearls, the economy's heavy reliance on imports and tourism presents risks for potential investors. The government actively encourages foreign investment in tourism infrastructure to promote economic growth.