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Asset diversification
A solid fortune never depends on a single asset, a single investment vehicle, or a single country.
Most of the portfolios we read about are based on two or three things: a primary residence, a rental property, a business, or savings accounts. Diversification involves working on four key areas, and the overall investment package is just as important as the specific investment itself.
Four axes
What we look at, in this order.
Real estate, stocks, bonds, euro funds, unlisted company : each person's share in the total assets, including the main residence.
The same fund costs less tax in a assurance-vie than on a securities account, and the same SCPI is transferred more easily in bare ownership than in full ownership.
An asset portfolio entirely in France and entirely in euros, for a family that lives, studies, or spends elsewhere: a contract Luxembourger may be denominated in another currency.
What needs to remain available tomorrow, what can wait until retirement, what is used for inheritance: each sum has its due date, and its envelope.
What is most often missing
Your assets today, and the missing piece.
| What you own | What is often missing | Where to house him |
|---|---|---|
| Primary residence and direct rental | Available financial savings | Assurance-vie, euro funds and unit-linked funds |
| A company that makes up the bulk of the wealth | Assets outside the company | Holding company, capitalization contract, contribution-sale prior to sale |
| Savings accounts and a current account | Savings invested beyond savings accounts | Assurance-vie, SCPI, PER if your tax bracket is 30 % or higher |
| Everything in France and in euros | A portion outside of France | Luxembourg assurance-vie, European SCPIs |
| Only listed markets | Unlisted assets | Private equity, directly, through funds or in assurance-vie |
The X-ray and reading of your assets in your space provides these shares in euros and as a percentage, based on your statements.
Frequently asked questions
What clients ask us.
Does my main residence count towards the allocation?
Yes, for the overall reading: it is often the primary asset of the household. For the purposes of real estate wealth tax, it benefits from a 30% allowance on its value (article 973 of the French General Tax Code), but it does not generate any income and cannot be sold in parts.
My business represents the bulk of my assets: what should I do?
Gradually withdraw from the company's value: dividends transferred to a holding company, capitalization contract taken out by the company, and, prior to a sale, contribution of the shares to a holding company. The proceeds reinvested at 70 % over 3 years retain the capital gain as a deferred tax asset (Article 150-0 B ter of the French General Tax Code).
Does diversification incur taxes?
In a assurance-vie policy, no: transfers between investment options are not taxed. In a securities account, each sale with a capital gain is taxed at 31.4% in 2026 (12.8% income tax and 18.6% social security contributions). This is one reason to choose the investment vehicle before making the investment.
Should you diversify when preparing for an expatriation?
Especially before you leave. Some investments are difficult to maintain abroad, while others are closed to non-residents. The best approach is to reorganize while you are still a resident: our 42 country guides explain what changes destination by destination.
