Saint Martin (French part) is a territorial 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.

Saint Martin, as a territorial collectivity of France, is subject to French laws aimed at combating corruption, including the 2017 "Loi Sapin II" which established an anti-corruption agency and enhanced transparency measures. Despite these efforts, concerns remain regarding the effectiveness of enforcement, particularly in cases of foreign bribery, as France has faced criticism for insufficient prosecutions and a lack of legislative reforms to facilitate investigations. The country ranks 20th on Transparency International's 2023 Corruption Perceptions Index, indicating ongoing challenges in addressing corruption within both public and private sectors.

Saint Martin (French part) has a high-income economy primarily driven by tourism, which employs about 85% of the workforce. The economy has faced significant challenges due to the COVID-19 pandemic and the devastation caused by Hurricane Irma in 2017, resulting in extensive infrastructure damage. Despite being largely import-dependent, the territory also engages in light industry, manufacturing, and offshore banking, with a nominal GDP estimated at approximately $649.206 million in 2021.

The investment climate in Saint Martin (French part) benefits from its status as an overseas collectivity of France, offering a stable legal framework and access to the European Union market. While the economy's heavy reliance on tourism and susceptibility to natural disasters present risks, the territory's duty-free commerce and appeal as a yachting destination enhance its attractiveness for investment, particularly in the tourism and hospitality sectors.