{"id":4384,"date":"2026-07-01T21:26:18","date_gmt":"2026-07-01T21:26:18","guid":{"rendered":"https:\/\/kaerus.fr\/the-holding-company-the-tax-saving-swiss-army-knife-business-leaders-underuse\/"},"modified":"2026-09-14T00:09:17","modified_gmt":"2026-09-14T00:09:17","slug":"the-holding-company-the-tax-saving-swiss-army-knife-business-leaders-underuse","status":"publish","type":"post","link":"https:\/\/kaerus.fr\/en\/the-holding-company-the-tax-saving-swiss-army-knife-business-leaders-underuse\/","title":{"rendered":"The Holding Company &#8211; The Tax-Saving Swiss army knife business leaders underuse"},"content":{"rendered":"\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-fd2cd98\" data-block-id=\"fd2cd98\"><style>.stk-fd2cd98 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-fe46579\" id=\"vous-pensiez-tout-savoir-sur-la-holding-detrompez-vous\" data-block-id=\"fe46579\"><h3 class=\"stk-block-heading__text\">Think you know everything there is to know about holding companies ? Think again. <\/h3><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-4afb215\" data-block-id=\"4afb215\"><style>.stk-4afb215 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-1f12290\" data-block-id=\"1f12290\"><p class=\"stk-block-text__text\">Behind a term that many people wrongly associate with major fortunes and opaque financial arrangements lies a <em>powerful structuring tool<\/em> that remains widely underused by SME owners, professionals and growing entrepreneurs.<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-6daa841\" data-block-id=\"6daa841\"><p class=\"stk-block-text__text\">This is not another list of \u201cfive tax benefits of a holding company\u201d that you have already read a hundred times. We are taking <strong>a different approach <\/strong>: the holding company as <strong>a philosophy for managing and steering a business<\/strong>. <\/p><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-6b6017c\" data-block-id=\"6b6017c\"><style>.stk-6b6017c {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-f041ce0\" id=\"la-holding-nest-pas-un-abri-fiscal-cest-un-cockpit\" data-block-id=\"f041ce0\"><h3 class=\"stk-block-heading__text\">A holding company is not a tax shelter. It is a cockpit. <\/h3><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-ea07188\" data-block-id=\"ea07188\"><p class=\"stk-block-text__text\">The classic mistake is to create a holding company solely for tax reasons, such as the parent-subsidiary regime or tax consolidation. <\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-22fd438\" data-block-id=\"22fd438\"><p class=\"stk-block-text__text\">These benefits certainly exist. But reducing a holding company to its tax advantages is like using an aircraft cockpit simply to tell the time. <\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-26cc4a4\" data-block-id=\"26cc4a4\"><style>.stk-26cc4a4 {margin-bottom:14px !important;}<\/style><p class=\"stk-block-text__text\">What a properly designed <strong>holding company can actually do<\/strong>:<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-f82285a\" data-block-id=\"f82285a\"><style>.stk-f82285a {margin-bottom:14px !important;}<\/style><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <strong>Ring-fence your cash reserves<\/strong>. Surplus cash from your subsidiaries can be transferred to the holding company, where it is protected from the risks associated with day-to-day operations. In periods of economic uncertainty, this strategic reserve can make the difference between being forced to react and having the freedom to choose. <\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-9fa037f\" data-block-id=\"9fa037f\"><style>.stk-9fa037f {margin-bottom:14px !important;}<\/style><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <strong>Facilitate acquisitions.<\/strong> Are you considering acquiring a complementary firm or business? The holding company can take on the debt, structure the transaction and protect your existing operations.  <\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-76986e1\" data-block-id=\"76986e1\"><style>.stk-76986e1 {margin-bottom:14px !important;}<\/style><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <strong>Prepare for succession.<\/strong> Gifts of holding company shares, the Dutreil regime, split ownership arrangements and other solutions are available, but they need to be planned several years in advance.<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-2c61f39\" data-block-id=\"2c61f39\"><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <strong>Clarify family governance.<\/strong> When several shareholders, generations and strategic visions coexist, the holding company becomes the appropriate forum for shareholder discussions, separate from day-to-day operations. <\/p><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-a002012\" data-block-id=\"a002012\"><style>.stk-a002012 {height:10px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-columns alignfull stk-block-columns stk-block stk-db344d7\" data-block-id=\"db344d7\"><style>.stk-db344d7 {margin-top:var(--stk--preset--spacing--70, 3.38rem) !important;margin-bottom:var(--stk--preset--spacing--70, 3.38rem) !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-db344d7-column alignwide\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-dfa8e4c\" data-v=\"4\" data-block-id=\"dfa8e4c\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-dfa8e4c-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-dfa8e4c-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-8219946\" id=\"heading-placeholder\" data-block-id=\"8219946\"><h3 class=\"stk-block-heading__text has-text-align-center\">The Three Types of Holding Company : Which One Is Right for You ?<\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-27a2a53\" data-block-id=\"27a2a53\"><style>.stk-27a2a53 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text has-text-align-center\">Holding companies are often presented as though they were a single, uniform structure. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-dd0dfb3\" data-block-id=\"dd0dfb3\"><p class=\"stk-block-text__text has-text-align-center\">In reality, several different models exist, each designed to meet distinct objectives.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-columns stk-block-columns stk-block stk-3c07b6f kaerus-cartes-egales\" data-block-id=\"3c07b6f\"><style>.stk-3c07b6f .stk--block-align-3c07b6f{align-items:stretch !important;}<\/style><div class=\"stk-row stk-inner-blocks stk--block-align-3c07b6f stk-block-content stk-content-align stk-3c07b6f-column\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2619c28\" data-v=\"4\" data-block-id=\"2619c28\"><style>.stk-2619c28 {align-self:stretch !important;}<\/style><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2619c28-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2619c28-inner-blocks\">\n<div class=\"wp-block-stackable-card stk-block-card stk-block stk-a9da4fe is-style-default\" data-v=\"2\" data-block-id=\"a9da4fe\"><style>.stk-a9da4fe-inner-blocks{justify-content:flex-start !important;}.stk-a9da4fe .stk-block-card__content{min-height:950px !important;}.stk-a9da4fe .stk-block-card__image img{filter:opacity(0.9) brightness(1.3) !important;}<\/style><div class=\"stk--no-padding stk-container stk-a9da4fe-container stk-hover-parent\"><figure class=\"stk-block-card__image stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-3973\" src=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-scaled.jpg\" width=\"2560\" height=\"1707\" alt=\"The Asset-Holding Company - Kaerus\" srcset=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-scaled.jpg 2560w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-300x200.jpg 300w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-1024x683.jpg 1024w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-768x512.jpg 768w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-1536x1024.jpg 1536w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/jorge-rosales-rMmjBiJx1oc-unsplash-2048x1365.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure><div class=\"stk-container-padding stk-block-card__content\"><div class=\"stk-block-content stk-inner-blocks stk--column-flex stk-a9da4fe-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-7c80f40\" id=\"c-title-2-placeholder\" data-block-id=\"7c80f40\"><h4 class=\"stk-block-heading__text has-text-align-center\"><strong>The Asset-Holding Company<\/strong><\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-862a1bb\" data-block-id=\"862a1bb\"><p class=\"stk-block-text__text\">This is the simplest model. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-19449ab\" data-block-id=\"19449ab\"><p class=\"stk-block-text__text\"><strong>It holds investments<\/strong>, receives <strong>dividends <\/strong>and manages <strong>financial or property<\/strong> assets. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-bcea0e7\" data-block-id=\"bcea0e7\"><p class=\"stk-block-text__text\">Its purpose is to accumulate and protect wealth.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-c10608c\" data-block-id=\"c10608c\"><style>.stk-c10608c {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">It is particularly suitable for business owners who want to :<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Protect the wealth<\/strong> generated through their work<\/li>\n\n\n\n<li><strong>Prepare <\/strong>calmly and effectively for a family <strong>succession<\/strong><\/li>\n\n\n\n<li><strong>Diversify their investments<\/strong> while retaining a structured investment vehicle<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-f8f0ad1\" data-block-id=\"f8f0ad1\"><style>.stk-f8f0ad1 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">The main pitfall to avoid ? <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-1c51976\" data-block-id=\"1c51976\"><p class=\"stk-block-text__text\">Allowing it to remain dormant without a clear strategy.<br\/>An asset-holding company with no defined purpose becomes a cost without generating any added value.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-c287bfb\" data-block-id=\"c287bfb\"><style>.stk-c287bfb {height:250px !important;}<\/style><\/div>\n<\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-59c6522\" data-v=\"4\" data-block-id=\"59c6522\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-59c6522-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-59c6522-inner-blocks\">\n<div class=\"wp-block-stackable-card stk-block-card stk-block stk-a5b6fd4 is-style-default\" data-v=\"2\" data-block-id=\"a5b6fd4\"><style>.stk-a5b6fd4-inner-blocks{justify-content:flex-start !important;}.stk-a5b6fd4 .stk-block-card__content{min-height:950px !important;}.stk-a5b6fd4 .stk-block-card__image img{filter:blur(0px) saturate(1.2) !important;}<\/style><div class=\"stk--no-padding stk-container stk-a5b6fd4-container stk-hover-parent\"><figure class=\"stk-block-card__image stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-3974\" src=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-scaled.jpg\" width=\"2560\" height=\"1707\" alt=\"The Active Holding Company - Kaerus\" srcset=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-scaled.jpg 2560w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-300x200.jpg 300w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-1024x683.jpg 1024w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-768x512.jpg 768w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-1536x1024.jpg 1536w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/maciej-karon-XxBF57rKMOg-unsplash-2048x1365.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure><div class=\"stk-container-padding stk-block-card__content\"><div class=\"stk-block-content stk-inner-blocks stk--column-flex stk-a5b6fd4-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-5e5a9e2\" id=\"c-title-2-placeholder\" data-block-id=\"5e5a9e2\"><h4 class=\"stk-block-heading__text has-text-align-center\"><strong>The Active Holding Company<\/strong><\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-d7d7171\" data-block-id=\"d7d7171\"><p class=\"stk-block-text__text\">This is the model that can transform the tax position of a group, but it requires genuine operational involvement. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-2653da5\" data-block-id=\"2653da5\"><p class=\"stk-block-text__text\">An active holding company plays a direct role in defining and <strong>implementing the group\u2019s strategy<\/strong>. It provides administrative, financial or HR services to its subsidiaries and participates in key structural decisions.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-8bd153b\" data-block-id=\"8bd153b\"><style>.stk-8bd153b {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">What it can <strong>unlock <\/strong>:<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Eligibility for <strong>the Dutreil regime<\/strong>, which can provide a 75% exemption from gift and inheritance tax<\/li>\n\n\n\n<li>Treatment as <strong>business assets<\/strong> for French real estate wealth tax purposes<\/li>\n\n\n\n<li>A potentially more <strong>favourable valuation<\/strong> in the event of a sale<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-cced074\" data-block-id=\"cced074\"><p class=\"stk-block-text__text\">However, active holding company status must be substantiated.<br\/>The French tax authorities closely examine service agreements, shareholders\u2019 meeting minutes and the reality of financial and operational flows.<br\/>This is not simply a box to tick. It is an <strong>operational reality that must be properly documented<\/strong>. <\/p><\/div>\n<\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-f2df0b1\" data-v=\"4\" data-block-id=\"f2df0b1\"><style>.stk-f2df0b1 {align-self:stretch !important;}<\/style><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-f2df0b1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-f2df0b1-inner-blocks\">\n<div class=\"wp-block-stackable-card stk-block-card stk-block stk-91ac9a8 is-style-default\" data-v=\"2\" data-block-id=\"91ac9a8\"><style>.stk-91ac9a8-inner-blocks{justify-content:flex-start !important;}.stk-91ac9a8 .stk-block-card__content{min-height:950px !important;}.stk-91ac9a8 .stk-block-card__image img{filter:brightness(1.1) !important;object-position:24% 54% !important;}<\/style><div class=\"stk--no-padding stk-container stk-91ac9a8-container stk-hover-parent\"><figure class=\"stk-block-card__image stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-3975\" src=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-scaled.jpg\" width=\"2048\" height=\"2560\" alt=\"The Mixed Holding Company - Kaerus\" srcset=\"https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-scaled.jpg 2048w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-240x300.jpg 240w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-819x1024.jpg 819w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-768x960.jpg 768w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-1229x1536.jpg 1229w, https:\/\/kaerus.fr\/wp-content\/uploads\/2026\/07\/pexels-mo3ath-photos-110226063-27411228-1638x2048.jpg 1638w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/figure><div class=\"stk-container-padding stk-block-card__content\"><div class=\"stk-block-content stk-inner-blocks stk--column-flex stk-91ac9a8-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-276b8c4\" id=\"c-title-3-placeholder\" data-block-id=\"276b8c4\"><h4 class=\"stk-block-heading__text has-text-align-center\"><strong>The Mixed Holding Company<\/strong><\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-5ba1a98\" data-block-id=\"5ba1a98\"><p class=\"stk-block-text__text\">This is the most common model in practice. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-b91a57c\" data-block-id=\"b91a57c\"><p class=\"stk-block-text__text\">It actively manages certain subsidiaries, holds others passively, manages property assets and invests in related projects. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-478540f\" data-block-id=\"478540f\"><p class=\"stk-block-text__text\">It reflects the true complexity of entrepreneurial wealth.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-d699434\" data-block-id=\"d699434\"><style>.stk-d699434 {margin-bottom:5px !important;}<\/style><p class=\"stk-block-text__text\">The challenge is to clearly <strong>distinguish between activities that qualify as active management and those that do not<\/strong>, in order to secure the tax treatment applicable to each component.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-79977b1\" data-block-id=\"79977b1\"><style>.stk-79977b1 {height:535px !important;}<\/style><\/div>\n<\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-d2d4514\" data-block-id=\"d2d4514\"><style>.stk-d2d4514 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-columns alignfull stk-block-columns stk-block stk-1d1fd6a\" data-block-id=\"1d1fd6a\"><style>.stk-1d1fd6a {margin-top:var(--stk--preset--spacing--70, 3.38rem) !important;margin-bottom:var(--stk--preset--spacing--70, 3.38rem) !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-1d1fd6a-column alignwide\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-816c33d\" data-v=\"4\" data-block-id=\"816c33d\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-816c33d-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-816c33d-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-2416df6\" id=\"un-cas-de-figure-que-meme-les-inities-negligent-br-la-holding-de-rebond\" data-block-id=\"2416df6\"><style>.stk-2416df6 {margin-bottom:0px !important;}<\/style><h3 class=\"stk-block-heading__text has-text-align-center\">A structure even experienced business owners often overlook : The Reinvestment Holding Company<\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-ab34b90\" id=\"heading-placeholder\" data-block-id=\"ab34b90\"><p class=\"stk-block-text__text has-text-align-center\">You may already have heard of the asset-holding company and the active holding company.<br\/>But there is another model that is rarely explained : the reinvestment holding company. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-columns stk-block-columns stk-block stk-f9e1a69\" data-block-id=\"f9e1a69\"><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-f9e1a69-column\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-0e3908b\" data-v=\"4\" data-block-id=\"0e3908b\"><style>.stk-0e3908b-container{margin-right:68px !important;}@media screen and (min-width:690px){.stk-0e3908b {flex:var(--stk-flex-grow, 1) 1 calc(40% - var(--stk-column-gap, 0px) * 1 \/ 2 ) !important;}}<\/style><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-0e3908b-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0e3908b-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-3e40e16\" id=\"long-subheading-placeholder\" data-block-id=\"3e40e16\"><h4 class=\"stk-block-heading__text\">A Real-Life Scenario<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-76b7ba8\" data-block-id=\"76b7ba8\"><p class=\"stk-block-text__text\">A business owner sells the company they originally built, such as a firm they developed over twenty years. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-da4bc37\" data-block-id=\"da4bc37\"><p class=\"stk-block-text__text\">It is a successful transaction. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-f4e0ebb\" data-block-id=\"f4e0ebb\"><p class=\"stk-block-text__text\">However, rather than receiving the sale proceeds personally and immediately incurring tax on the capital gain, the owner structures the disposal through a holding company.<\/p><\/div>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-96800c8\" data-v=\"4\" data-block-id=\"96800c8\"><style>@media screen and (min-width:690px){.stk-96800c8 {flex:var(--stk-flex-grow, 1) 1 calc(60% - var(--stk-column-gap, 0px) * 1 \/ 2 ) !important;}}<\/style><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-96800c8-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-96800c8-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-90e7ad7\" id=\"ce-que-ca-change-concretement\" data-block-id=\"90e7ad7\"><h4 class=\"stk-block-heading__text\">What this changes in practice<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-43991d5\" data-block-id=\"43991d5\"><p class=\"stk-block-text__text\"><strong>\u2570\u2abc The capital gain remains within the holding company.<\/strong><br\/>Under the French participation exemption regime, capital gains arising from the sale of qualifying shares are almost entirely exempt from corporation tax. Only a 12% add-back for costs and expenses is taxable.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-f75742a\" data-block-id=\"f75742a\"><p class=\"stk-block-text__text\"><strong><em><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span><\/em> The proceeds can be reinvested immediately.<\/strong><br\/>There is no waiting period and no need to hold the funds in a personal escrow account. The holding company has the liquidity required to seize the next opportunity. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-695cbd6\" data-block-id=\"695cbd6\"><p class=\"stk-block-text__text\"><strong><em><strong><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span><\/strong><\/em> The business owner retains an active entrepreneurial vehicle.<\/strong><br\/>They do not simply become a wealthy private investor with a securities account. They remain an entrepreneur with a vehicle through which they can manage and develop new projects. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-a7cb509\" data-block-id=\"a7cb509\"><p class=\"stk-block-text__text\">This is the fundamental difference between saying, \u201cI sold my business,\u201d and saying, \u201cI repositioned my group.\u201d<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-e90bb51\" id=\"les-conditions-a-respecter\" data-block-id=\"e90bb51\"><h4 class=\"stk-block-heading__text\">The conditions that must be met<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-ac2e23e\" data-block-id=\"ac2e23e\"><p class=\"stk-block-text__text\">This mechanism generally requires the holding company to exist before the disposal. Share contribution and subsequent sale transactions are governed by Article 150-0 B ter of the French General Tax Code.<br\/>Timing and advance structuring are therefore critical, which is why these transactions must sometimes be anticipated several years before the planned sale.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-360a014\" data-block-id=\"360a014\"><style>.stk-360a014 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-columns alignfull stk-block-columns stk-block stk-4307100\" data-block-id=\"4307100\"><style>.stk-4307100 {margin-top:var(--stk--preset--spacing--70, 3.38rem) !important;margin-bottom:var(--stk--preset--spacing--70, 3.38rem) !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-4307100-column alignwide\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4ce3fa1\" data-v=\"4\" data-block-id=\"4ce3fa1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4ce3fa1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4ce3fa1-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-2cf7615\" id=\"heading-placeholder\" data-block-id=\"2cf7615\"><style>.stk-2cf7615 {margin-bottom:0px !important;}<\/style><h3 class=\"stk-block-heading__text has-text-align-center\">The questions clients are often reluctant to ask<\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-3f99fc4\" id=\"heading-placeholder\" data-block-id=\"3f99fc4\"><style>.stk-3f99fc4 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text has-text-align-center\">At Kaerus, we regularly advise business owners who are uncertain about whether a holding company is right for them.<br\/>These are the questions they actually ask us during meetings, together with our direct answers.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-columns stk-block-columns stk-block stk-e839a25\" data-block-id=\"e839a25\"><style>.stk-e839a25-column{--stk-columns-spacing:10px !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-e839a25-column\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-27a1d40\" data-v=\"4\" data-block-id=\"27a1d40\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-27a1d40-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-27a1d40-inner-blocks\">\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-55b5b23 is-style-default\" data-block-id=\"55b5b23\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-6587b7b stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"6587b7b\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-6587b7b-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-6587b7b-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-fe33314\" data-block-id=\"fe33314\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-d704710\" id=\"question-1-placeholder\" data-block-id=\"d704710\"><style>.stk-d704710 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-d704710 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Is it worthwhile for a business of my size ?<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-997a343\" data-block-id=\"997a343\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-997a343\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-997-a-343-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-997-a-343-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-84f910b stk-block-accordion__content\" data-v=\"4\" data-block-id=\"84f910b\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-84f910b-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-84f910b-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-b725709\" data-block-id=\"b725709\"><p class=\"stk-block-text__text\">The straightforward answer is <strong>often yes<\/strong>, and much earlier than most business owners assume.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-178bf87\" data-block-id=\"178bf87\"><style>.stk-178bf87 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\"><strong>Signs <\/strong>that a holding company may be becoming relevant include :<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You operate <strong>several businesses<\/strong> or are considering launching or acquiring additional activities<\/li>\n\n\n\n<li>Your operating company generates significant <strong>surplus cash<\/strong>, for example more than &gt;\u20ac100,000 that is not required to fund working capital<\/li>\n\n\n\n<li>You are beginning to consider <strong>succession planning<\/strong>, even if the transfer is still ten to fifteen years away<\/li>\n\n\n\n<li>You want to <strong>invest <\/strong>in property or other businesses <strong>without mixing those investments with your operating activity<\/strong><\/li>\n\n\n\n<li><strong>Several shareholders<\/strong> are involved, with different time horizons, objectives or projects<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-5cb3cca\" data-block-id=\"5cb3cca\"><p class=\"stk-block-text__text\">The relevant threshold is not a minimum level of revenue. It depends on the complexity of your situation and your longer-term plans. <\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-c75f651 is-style-default\" data-block-id=\"c75f651\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-8cf40bd stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"8cf40bd\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8cf40bd-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-8cf40bd-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-6ee1b67\" data-block-id=\"6ee1b67\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-ecbff8e\" id=\"question-2-placeholder\" data-block-id=\"ecbff8e\"><style>.stk-ecbff8e .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-ecbff8e .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Is it complicated to manage on a day-to-day basis ?<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-44cddd6\" data-block-id=\"44cddd6\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-44cddd6\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-44-cddd-6-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-44-cddd-6-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4abac7f stk-block-accordion__content\" data-v=\"4\" data-block-id=\"4abac7f\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4abac7f-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4abac7f-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-33a55ed\" data-block-id=\"33a55ed\"><p class=\"stk-block-text__text\"><strong>Less than most people assume.<\/strong><\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-65d0ed6\" data-block-id=\"65d0ed6\"><style>.stk-65d0ed6 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">A properly structured holding company generally adds:<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>One annual general meeting<\/strong>, often held at the same time as the subsidiary\u2019s meeting<\/li>\n\n\n\n<li>One additional <strong>corporate tax return<\/strong><\/li>\n\n\n\n<li><strong>Cash-pooling or service agreements<\/strong> that must be properly documented<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-60fbd88\" data-block-id=\"60fbd88\"><p class=\"stk-block-text__text\">This represents a genuine but limited administrative burden, particularly when the same chartered accountant manages the entire group. It does not require the creation of a separate department. <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-23be8e0\" data-block-id=\"23be8e0\"><p class=\"stk-block-text__text\">The main additional cost does not arise from day-to-day administration. It comes from the initial structuring process and the associated legal and tax advice.<br\/>In most cases, this investment pays for itself within two to three years. <\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-12c332d\" data-v=\"4\" data-block-id=\"12c332d\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-12c332d-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-12c332d-inner-blocks\">\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-0d39b23 is-style-default\" data-block-id=\"0d39b23\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-a01d452 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"a01d452\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-a01d452-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-a01d452-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-74d1f47\" data-block-id=\"74d1f47\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-6cf14c3\" id=\"question-4-placeholder\" data-block-id=\"6cf14c3\"><style>.stk-6cf14c3 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-6cf14c3 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Can I reverse the structure if my circumstances change ?<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-242d770\" data-block-id=\"242d770\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-242d770\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-242-d-770-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-242-d-770-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-d88a97b stk-block-accordion__content\" data-v=\"4\" data-block-id=\"d88a97b\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-d88a97b-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-d88a97b-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-40d5144\" data-block-id=\"40d5144\"><p class=\"stk-block-text__text\"><strong>Nothing is set in stone.<\/strong><\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-1550942\" data-block-id=\"1550942\"><style>.stk-1550942 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">Several <strong>restructuring <\/strong>options are available :<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Merger :<\/strong> the holding company absorbs the subsidiary, or the subsidiary absorbs the holding company, under a tax-neutral regime where the required conditions are met<\/li>\n\n\n\n<li><strong>Universal Transfer of Assets and Liabilities :<\/strong> a simplified dissolution procedure where the holding company owns 100% of the subsidiary<\/li>\n\n\n\n<li><strong>Partial Transfer of Assets :<\/strong> a reorganisation of separate business divisions or activities<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-c9ad1ac\" data-block-id=\"c9ad1ac\"><p class=\"stk-block-text__text\">These transactions involve costs and legal constraints, but the structure is not irreversible. <\/p><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The key is to anticipate potential scenarios from the outset so that you do not become restricted by unsuitable provisions in the articles of association or poorly calibrated tax commitments.<\/p>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-58ce2bb is-style-default\" data-block-id=\"58ce2bb\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-900be37 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"900be37\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-900be37-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-900be37-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-5ce216c\" data-block-id=\"5ce216c\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-350106d\" id=\"question-5-placeholder\" data-block-id=\"350106d\"><style>.stk-350106d .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-350106d .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">When is the right time to create a Holding Company ?<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-e44d0b4\" data-block-id=\"e44d0b4\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-e44d0b4\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-44-d-0-b-4-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-44-d-0-b-4-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-3cd9196 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"3cd9196\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-3cd9196-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-3cd9196-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-311829a\" data-block-id=\"311829a\"><p class=\"stk-block-text__text\">Ideally, <strong>before you urgently need<\/strong> one.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-cdfaf85\" data-block-id=\"cdfaf85\"><style>.stk-cdfaf85 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\">The <strong>worst times<\/strong> to create a holding company are :<\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Immediately <strong>before a sale<\/strong>, because of the risk of tax recharacterisation and the strict rules governing share contribution and subsequent disposal transactions<\/li>\n\n\n\n<li>In response to a <strong>tax audit<\/strong><\/li>\n\n\n\n<li>Under pressure from a buyer or investor<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-4983651\" data-block-id=\"4983651\"><style>.stk-4983651 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text\"><strong>The right times include :<\/strong><\/p><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>When launching a <strong>new business activity<\/strong><\/li>\n\n\n\n<li>Before entering <strong>a phase of acquisition-led growth<\/strong><\/li>\n\n\n\n<li>When <strong>surplus cash<\/strong> begins to accumulate<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-884aeeb\" data-block-id=\"884aeeb\"><p class=\"stk-block-text__text\">In advance of family wealth and succession planning, ideally five to ten years before the intended transfer<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n<\/div><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-255c6b4\" data-block-id=\"255c6b4\"><style>.stk-255c6b4 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-columns alignfull stk-block-columns stk-block stk-f192b33\" data-block-id=\"f192b33\"><style>.stk-f192b33 {margin-top:var(--stk--preset--spacing--70, 3.38rem) !important;margin-bottom:var(--stk--preset--spacing--70, 3.38rem) !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-f192b33-column alignwide\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-cddc758\" data-v=\"4\" data-block-id=\"cddc758\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-cddc758-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-cddc758-inner-blocks\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-2a71a21\" id=\"heading-placeholder\" data-block-id=\"2a71a21\"><style>.stk-2a71a21 {margin-bottom:0px !important;}<\/style><h3 class=\"stk-block-heading__text has-text-align-center\">Common mistakes to avoid<\/h3><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-6a4d5d8\" id=\"heading-placeholder\" data-block-id=\"6a4d5d8\"><style>.stk-6a4d5d8 {margin-bottom:0px !important;}<\/style><p class=\"stk-block-text__text has-text-align-center\">We regularly come across holding companies that are poorly structured or significantly underused.<br\/>These are the most common pitfalls.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-columns stk-block-columns stk-block stk-4103fe7\" data-block-id=\"4103fe7\"><style>.stk-4103fe7-column{--stk-columns-spacing:10px !important;}<\/style><div class=\"stk-row stk-inner-blocks stk-block-content stk-content-align stk-4103fe7-column\">\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-b5aef03\" data-v=\"4\" data-block-id=\"b5aef03\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-b5aef03-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-b5aef03-inner-blocks\">\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-a19a545 is-style-default\" data-block-id=\"a19a545\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-d05cfca stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"d05cfca\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-d05cfca-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-d05cfca-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-f0b08d1\" data-block-id=\"f0b08d1\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-b594957\" id=\"question-1-placeholder\" data-block-id=\"b594957\"><style>.stk-b594957 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-b594957 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Mistake No. 1 : The dormant Holding Company<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-d67c711\" data-block-id=\"d67c711\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-d67c711\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-d-67-c-711-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-d-67-c-711-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ff29095 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"ff29095\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ff29095-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ff29095-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-bc72d45\" data-block-id=\"bc72d45\"><p class=\"stk-block-text__text\">It was created ten years ago on a friend\u2019s advice but has never served any real purpose.<br\/>There is no cash-pooling agreement, no provision of services and no defined strategy.<br\/>It generates fixed costs without creating value.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-f3bf569\" data-block-id=\"f3bf569\"><p class=\"stk-block-text__text\">The solution : either assign it an active role, such as centralising cash, making investments or providing services to subsidiaries, or merge it into another entity to simplify the structure.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-9831533 is-style-default\" data-block-id=\"9831533\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7f70cd8 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"7f70cd8\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7f70cd8-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-7f70cd8-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-efb79b5\" data-block-id=\"efb79b5\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-ef29ae5\" id=\"question-2-placeholder\" data-block-id=\"ef29ae5\"><style>.stk-ef29ae5 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-ef29ae5 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Mistake No. 2 : Fictitious active management<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-ea0ef8f\" data-block-id=\"ea0ef8f\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-ea0ef8f\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ea-0-ef-8-f-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-ea-0-ef-8-f-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ebbd7b2 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"ebbd7b2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ebbd7b2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ebbd7b2-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-a19a599\" data-block-id=\"a19a599\"><p class=\"stk-block-text__text\">The business owner claims that the holding company qualifies as an active holding company in order to benefit from the Dutreil regime.<br\/>In practice, however, there are no service agreements, no employees and no meeting minutes documenting strategic decisions.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-116966c\" data-block-id=\"116966c\"><p class=\"stk-block-text__text\"><strong>The risk :<\/strong> recharacterisation by the French tax authorities, withdrawal of the tax exemptions and an additional tax assessment with penalties.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-bc4397a\" data-block-id=\"bc4397a\"><p class=\"stk-block-text__text\"><strong>The solution :<\/strong> document the active management role rigorously through management agreements, invoicing for genuine services and formal minutes of strategic committee meetings.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-1f318d5\" data-v=\"4\" data-block-id=\"1f318d5\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-1f318d5-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-1f318d5-inner-blocks\">\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-188677a is-style-default\" data-block-id=\"188677a\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-24b4c87 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"24b4c87\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-24b4c87-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-24b4c87-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-93a11c2\" data-block-id=\"93a11c2\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-0c68cc6\" id=\"question-4-placeholder\" data-block-id=\"0c68cc6\"><style>.stk-0c68cc6 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-0c68cc6 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Mistake No. 3 : Poorly optimised financial flows<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-e8fc6e4\" data-block-id=\"e8fc6e4\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-e8fc6e4\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-8-fc-6-e-4-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-e-8-fc-6-e-4-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-04f6fe6 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"04f6fe6\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-04f6fe6-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-04f6fe6-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-ce7edd0\" data-block-id=\"ce7edd0\"><p class=\"stk-block-text__text\">Dividends are transferred to the holding company, after which the business owner pays themselves remuneration through the holding company.<br\/>This can result in double taxation, avoidable social security contributions and the loss of some of the benefits associated with the parent-subsidiary regime.<\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-4f94029\" data-block-id=\"4f94029\"><p class=\"stk-block-text__text\"><strong>The solution :<\/strong> clearly determine which entity holds the corporate office, optimise cash flows through intercompany current account agreements and management fees, and assess the appropriate balance between remuneration and dividends based on the overall situation.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n\n\n\n<details class=\"wp-block-stackable-accordion stk-block-accordion stk-inner-blocks stk-block-content stk-block stk-3d26510 is-style-default\" data-block-id=\"3d26510\">\n<summary class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-87c9f07 stk--container-small stk-block-accordion__heading\" data-v=\"4\" data-block-id=\"87c9f07\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-87c9f07-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks stk-87c9f07-inner-blocks\">\n<div class=\"wp-block-stackable-icon-label stk-block-icon-label stk-block stk-5dbb8c3\" data-block-id=\"5dbb8c3\"><div class=\"stk-row stk-inner-blocks stk-block-content\">\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-27c9791\" id=\"question-5-placeholder\" data-block-id=\"27c9791\"><style>.stk-27c9791 .stk-block-heading__text{font-size:24px !important;}@media screen and (max-width:999px){.stk-27c9791 .stk-block-heading__text{font-size:24px !important;}}<\/style><h4 class=\"stk-block-heading__text\">Mistake No. 4 : No Shareholders\u2019 Agreement<\/h4><\/div>\n\n\n\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-330b632\" data-block-id=\"330b632\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-330b632\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-330-b-632-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-330-b-632-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"chevron-down\" class=\"svg-inline--fa fa-chevron-down fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div><\/span><\/div>\n<\/div><\/div>\n<\/div><\/div><\/summary>\n\n\n\n<div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-6198591 stk-block-accordion__content\" data-v=\"4\" data-block-id=\"6198591\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-6198591-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-6198591-inner-blocks\">\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-a2d7608\" data-block-id=\"a2d7608\"><p class=\"stk-block-text__text\">Where several people hold shares in the holding company, whether business partners or family members, the articles of association alone are not sufficient.<br\/>What happens in the event of death, divorce, disagreement or a shareholder wishing to exit ?   <\/p><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-7ca327a\" data-block-id=\"7ca327a\"><p class=\"stk-block-text__text\"><strong>The solution :<\/strong> put in place a shareholders\u2019 agreement that anticipates all relevant scenarios, including pre-emption rights, tag-along rights, approval clauses and valuation mechanisms in the event of a forced sale.<\/p><\/div>\n<\/div><\/div><\/div>\n<\/details>\n<\/div><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-cac96f5\" data-block-id=\"cac96f5\"><style>.stk-cac96f5 {height:30px !important;}<\/style><\/div>\n\n<div class=\"wp-block-stackable-heading stk-block-heading stk-block-heading--v2 stk-block stk-54aff50\" id=\"notre-conviction\" data-block-id=\"54aff50\"><style>.stk-54aff50 {margin-bottom:0px !important;}<\/style><h4 class=\"stk-block-heading__text\">Our View<\/h4><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-4885f6d\" data-block-id=\"4885f6d\"><p class=\"stk-block-text__text\">Forget the idea that holding companies are complex structures reserved for major listed groups. A holding company is an accessible tool and can become relevant much earlier than many business owners assume. <\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-1ea900a\" data-block-id=\"1ea900a\"><style>.stk-1ea900a {margin-bottom:10px !important;}<\/style><p class=\"stk-block-text__text\">When properly designed, a holding company gives you :<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-853fc65\" data-block-id=\"853fc65\"><style>.stk-853fc65 {margin-bottom:10px !important;}<\/style><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <em><strong>Flexibility<\/strong> <\/em>to seize new opportunities<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-2c5f7c0\" data-block-id=\"2c5f7c0\"><style>.stk-2c5f7c0 {margin-bottom:10px !important;}<\/style><p class=\"stk-block-text__text\"><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span> <strong><em>Protection<\/em> <\/strong>to withstand periods of uncertainty<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-53c26dc\" data-block-id=\"53c26dc\"><style>.stk-53c26dc {margin-bottom:10px !important;}<\/style><p class=\"stk-block-text__text\"><em><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span><\/em> <strong>Clarity <\/strong>to organise governance<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-28064ab\" data-block-id=\"28064ab\"><p class=\"stk-block-text__text\"><em><span style=\"color: var(--theme-palette-color-1, #224DB7);\" class=\"stk-highlight\">\u2570\u2abc<\/span><\/em> <strong>Time<\/strong> to prepare for what comes next<\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-53e6532\" data-block-id=\"53e6532\"><p class=\"stk-block-text__text\"><strong>At Kaerus, we support business owners who want to structure their activities intelligently without creating unnecessary burdens.<br\/><br\/>No unnecessary arrangements. No complexity for complexity\u2019s sake.<br\/><br\/>Just the right structure for your ambitions, together with long-term support to ensure that it continues to evolve alongside you. <\/strong><\/p><\/div>\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-e142d23\" data-block-id=\"e142d23\"><p class=\"stk-block-text__text\">Kind regards,<br\/>Rabah Lamraoui<br\/>Chartered Accountant<br\/><a href=\"http:\/\/kaerus.fr\/en\/\">www.kaerus.fr<\/a><\/p><\/div>\n\n<img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACw=\" alt=\"Intelligence artificielle et performance financi\u00e8re\" class=\"seo-sr-only\"\/><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACw=\" alt=\"Intelligence artificielle et performance financi\u00e8re\" class=\"seo-sr-only\"\/><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACw=\" alt=\"Intelligence artificielle et performance financi\u00e8re\" class=\"seo-sr-only\"\/>\n\n\r\n<div class=\"seo-sr-only\">\r\n  <a href=\"https:\/\/kaerus.kinsta.cloud\/expertises-comptables\/\" target=\"_blank\" rel=\"noopener\">D\u00e9couvrir les expertises KAERUS<\/a>\r\n<\/div>\r\n","protected":false},"excerpt":{"rendered":"<p>Think you know everything there is to know about holding companies ? Think again. Behind a term that many people wrongly associate with major fortunes and opaque financial arrangements lies a powerful structuring tool that remains widely underused by SME owners, professionals and growing entrepreneurs. This is not another list of \u201cfive tax benefits of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,34,35,33],"tags":[],"class_list":["post-4384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","category-advisory","category-audit-and-due-diligence","category-human-resources"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/posts\/4384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/comments?post=4384"}],"version-history":[{"count":22,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/posts\/4384\/revisions"}],"predecessor-version":[{"id":4757,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/posts\/4384\/revisions\/4757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/media\/4117"}],"wp:attachment":[{"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/media?parent=4384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/categories?post=4384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kaerus.fr\/en\/wp-json\/wp\/v2\/tags?post=4384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}