A new mixed stress 4-node flat shell finite element, designed for the linear and nonlinear analysis of folded plate structures, is presented. The kinematics of the element is defined by 24 dofs with in- and out-of-plane displacements assumed to be quadratic, controlled by displacement and rotation parameters through an Allman like interpolation, and flexural rotations assumed to be bilinear. The assumed stress approximation, described within a local Cartesian frame aligned with the element orientation, is self-equilibrated and ruled by the minimum number of parameters. The element does not suffer from kinematical locking and rank defectiveness. Many numerical tests show the very good performance of the element.