0-9
150-0 B ter (Contribution-Transfer)
Mechanism allowing the deferral of capital gains tax when contributing securities to a controlled holding company, subject to a reinvestment of 60 % of the proceeds.
155-B (Regime of impatriates)
A preferential tax scheme for employees and managers called from abroad to take up employment in France, offering an exemption of 50% on certain remuneration and passive income for 8 years.
A
ACPR: Prudential Control and Resolution Authority
French supervisory body, attached to the Bank of France, responsible for ensuring the stability of the financial system and the protection of customers in the banking and insurance sectors.
ALPSI: Tied Agent of an Investment Service Provider
An association bringing together insurance professionals in Luxembourg to guarantee the ethics and quality standards of the financial center.
AMF: Financial Markets Authority
French body responsible for regulating finance and protecting savings invested in financial products.
Luxembourg assurance-vie
High-end insurance contract offering tax neutrality, multi-currency management and enhanced asset protection (Triangle of Security).
AV (Life Insurance)
Capitalization contract allowing the building of capital or the transfer of assets with advantageous taxation on gains and inheritance.
B
360° Wealth Assessment
A comprehensive audit of a client's civil, tax, economic and social situation to define a coherent overall strategy.
C
Cantonment (Strategy of)
The option for a beneficiary (often the surviving spouse) to take only part of the assets bequeathed to them, leaving the rest to the other heirs without additional tax burden.
CGI: General Tax Code
The CGI is the General Tax Code, which brings together all French laws and regulations relating to taxes.
CIF (Financial Investment Advisor)
Status regulated by the AMF allowing the provision of investment advice independently.
CIP (Participatory Investment Advisor)
A professional who connects project owners and investors via a crowdfunding platform, providing advice on investments and associated risks.
Split beneficiary clause
A clause in a assurance-vie contract where the usufruct is granted to one person (e.g., the spouse) and the bare ownership to others (e.g., the children)
CMF (Monetary and Financial Code)
A body of laws that governs banking, financial activities and stock markets in France.
CNTGI (National Council for Real Estate Transactions and Management)
Representative body of the real estate profession, created by the Alur law in 2014, which gives its opinion on legislative and regulatory texts concerning real estate professionals.
Bilateral Tax Convention
Treaty between two States aimed at avoiding double taxation of income and combating tax evasion.
International Tax Convention
An agreement between two or more states aimed at regulating tax matters.
CSG (General Social Contribution) / CRDS (Contribution to the Repayment of Social Debt)
French social security contributions. Non-residents affiliated to a social security scheme in the EU/EEA/Switzerland may be partially exempt (reduced rate of 7.5 %).
D
IDD: Insurance Distribution Directive
European directive aimed at harmonizing and strengthening consumer protection when purchasing insurance products.
Division of ownership
Legal separation of an asset between Usufruct (right to use and receive income from it) and Bare ownership (right to dispose of the asset at a later date).
DER (Customer Onboarding Document)
The first legal document provided by the advisor, specifying its statutes, its approvals and its possible links with financial partners.
DGCCRF (Directorate General for Competition, Consumer Affairs and Fraud Control)
The DGCCRF is the Directorate General for Competition, Consumer Affairs and Fraud Control, a French administration responsible for protecting consumers and ensuring competitive regulation of markets.
E
EBA/ABE (European Banking Authority)
The European Banking Authority (EBA) is an independent EU agency tasked with implementing a single regulatory and supervisory framework for the banking sector to contribute to financial stability.
EIOPA/AEAPP (European Insurance and Occupational Pensions Authority)
EIOPA/AEAPP is the European Insurance and Occupational Pensions Authority, part of the European System of Financial Supervision, which aims to improve the supervision and regulation of the sector at European level.
ESMA/AEMF (European Securities and Markets Authority)
ESMA, or AEMF, is the European Securities and Markets Authority, a government agency.
Exit Tax
Tax targeting taxpayers who transfer their tax residence outside of France, relating to the unrealized capital gains of their shareholdings (if securities assets > €800,000).
F
FID / FAS (Dedicated Internal Fund / Specialized Insurance Fund)
Specific investment vehicles within Luxembourg contracts allowing for tailored management.
Flat Tax (PFU)
Flat-rate single levy of 30 % applying to capital income (12.8 % tax + 17.2 % social security contributions).
G
H
HNWI (High Net Worth Individual)
An individual with substantial financial assets (generally > $1 million in liquid assets).
Asset holding company
A company whose purpose is the holding and management of interests in other companies, used as a tool for capital accumulation and transfer.
I
IAS (Insurance Intermediary)
An insurance intermediary is a professional who connects potential policyholders with insurance companies and advises them on products suited to their needs.
IDD (Insurance Distribution Directive (Directive on Insurance Distribution - formerly IDD II))
An insurance intermediary is a professional who connects potential policyholders with insurance companies and advises them on products suited to their needs.
IFI (Real Estate Wealth Tax)
Tax levied on net real estate assets exceeding 1.3 million euros.
IFP (Crowdfunding Intermediary)
A legal or natural person who connects project promoters and funders via an online platform.
IMD (Insurance Mediation Directive)
European regulation that establishes the minimum requirements for the registration and activity of insurance intermediaries.
Wealth structuring
Combined use of civil law and taxation to structure, protect and transfer a complex estate.
IOBSP (Intermediary in Banking Operations and Payment Services)
A professional who acts as an intermediary between a borrower and a bank.
J
K
KYC (Know Your Customer)
Customer due diligence obligations imposed on financial professionals to prevent money laundering and terrorist financing.
L
AML/CFT (Anti-Money Laundering/Counter-Terrorist Financing)
The measure aims to prevent the infiltration of criminal proceeds into the economic and financial system.
LMNP (Non-Professional Furnished Rental)
Tax status allowing investment in rental property and receiving rents with little or no tax thanks to accounting depreciation.
M
MiFID II (Markets in Financial Instruments)
European directive aimed at strengthening investor protection and the transparency of financial charges.
N
Fiscal Neutrality
The principle according to which an investment (e.g., Luxembourg assurance-vie) is not taxed in the insurer's country, but only in the subscriber's country of tax residence.
O
ORIAS
Consular body that lists intermediaries authorized to operate in banking, insurance and finance in France. Single register of intermediaries in Insurance, Banking and Finance
P
Dutreil Pact
A scheme allowing an exemption of 75 % from transfer taxes when transferring a family business, subject to commitments to retain the business.
PEA
A tax-advantaged investment vehicle for European stock markets, offering total exemption from capital gains tax after five years.
PER
A long-term savings product that allows you to deduct contributions from your taxable income, in exchange for locking up the funds until retirement.
PERCO
Employee savings plan for retirement, set up by the company, funded by profit-sharing, participation or voluntary contributions.
PFIC (Passive Foreign Investment Company)
Complex US tax classifications can heavily tax non-US investments (such as French UCITS) held by US residents.
Private Equity
Investment in the capital of unlisted companies, offering high return potential in exchange for a certain illiquidity.
Professio Juris
The possibility offered by European regulation to choose the law of one's nationality to govern one's entire worldwide estate.
Q
R
European Succession Regulation (650/2012)
Text harmonizing the rules of succession within the EU, stipulating that the applicable law is that of the last habitual residence (unless otherwise chosen).
RGAMF
The RGAMF is the General Regulation of the Financial Markets Authority.
NHR (Non-Habitual Resident)
The Portuguese tax system is designed to attract retirees and certain professionals by offering significant tax advantages on foreign-sourced income.
RSU (Restricted Stock Units)
Free shares granted by a company to its employees, subject to specific taxation which is often complex in the event of expatriation.
S
SCPI (Société Civile de Placement Immobilier)
Investment allowing investment in commercial real estate (offices, shops) and receiving rent without management worries ("Pierre-papier").
SGP (Portfolio Management Company)
An authorized company that manages assets on behalf of third parties.
T
TRACFIN (Financial Intelligence Processing and Action against Clandestine Financial Circuits)
TRACFIN (Treatment of Intelligence and Action against Clandestine Financial Circuits) is a French financial intelligence service that fights against money laundering, terrorist financing and fraud against public finances.
Safety Triangle
Luxembourg protection mechanism guaranteeing the legal separation between client assets, insurer's own funds and the custodian bank.
U
V
WXYZ
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