Insurance contracts where the risk is located outside France or does not relate to an industrial, commercial or agricultural establishment located in France are exempt from the special tax; in the absence of a definite material location or a definite connection with an industrial, commercial or agricultural establishment, the risks are deemed to be located at the place of residence or principal establishment of the policyholder.
But these contracts may not be used in France, by public deed, or before any other constituted authority, if they have not first been subjected to the formality of visa for stamp.
This formality is given in return for payment of the tax on all the sums stipulated for the benefit of the insurer, relating to the years remaining to run.
However, for contracts relating to these risks located or deemed to be located in Saint-Pierre-et-Miquelon, New Caledonia, French Polynesia, the Wallis and Futuna Islands and the French Southern and Antarctic Territories, the formality is given free of charge, if the insurer is French, or at half the rate, otherwise.
Reinsurances of risks referred to above are subject to the provisions of this article.