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 "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 highlighted by the OECD's findings which indicate a lack of significant convictions and ongoing challenges in prosecuting such offenses. The French government has made some strides in improving its legal framework, but the implementation of recommendations from international bodies still requires attention to ensure a robust anti-corruption environment.

Saint Martin (French part) has a high-income economy primarily driven by tourism, which employs about 85% of the population. The economy has been challenged by the impacts of COVID-19 and the devastation caused by Hurricane Irma in 2017, while also being characterized by light industry, manufacturing, and offshore banking, though it remains largely import-dependent.

The investment climate in Saint Martin (French part) benefits from its status as an overseas collectivity of France, which ensures a stable legal framework and access to the European Union market. However, the economy's heavy reliance on tourism and its vulnerability to natural disasters present risks for investors. Despite these challenges, the government is actively working to attract investment in tourism and infrastructure, supported by opportunities in duty-free commerce and a growing financial services sector.