{"id":23653,"date":"2023-12-04T15:38:29","date_gmt":"2023-12-04T14:38:29","guid":{"rendered":"https:\/\/www.fbt-avocats.ch\/?p=23653"},"modified":"2025-10-20T11:12:34","modified_gmt":"2025-10-20T10:12:34","slug":"the-dutreil-pact-in-an-international-context-a-precautionary-measure-to-effectively-reduce-the-french-tax-cost-of-a-company-transfer","status":"publish","type":"post","link":"https:\/\/staging.fbt-avocats.ch\/en\/the-dutreil-pact-in-an-international-context-a-precautionary-measure-to-effectively-reduce-the-french-tax-cost-of-a-company-transfer\/","title":{"rendered":"The \u00ab Dutreil \u00bb pact in an international context: a precautionary measure to effectively reduce the French tax cost of a company transfer"},"content":{"rendered":"<div  class='avia-slideshow av-lpqtcuam-76906b30aa535219bbd7e5abbadb45f0 avia-slideshow-featured_large av_slideshow avia-slide-slider  avia-builder-el-0  el_before_av_heading  avia-builder-el-first  av-slideshow-ui av-control-default av-slideshow-manual av-loop-once av-loop-manual-endless av-default-height-applied avia-slideshow-1' data-slideshow-options=\"{&quot;animation&quot;:&quot;slide&quot;,&quot;autoplay&quot;:false,&quot;loop_autoplay&quot;:&quot;once&quot;,&quot;interval&quot;:5,&quot;loop_manual&quot;:&quot;manual-endless&quot;,&quot;autoplay_stopper&quot;:false,&quot;noNavigation&quot;:false,&quot;bg_slider&quot;:false,&quot;keep_padding&quot;:false,&quot;hoverpause&quot;:false,&quot;show_slide_delay&quot;:0}\"  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><ul class='avia-slideshow-inner ' style='padding-bottom: 42.225201072386%;'><li  class='avia-slideshow-slide av-lpqtcuam-76906b30aa535219bbd7e5abbadb45f0__0  av-single-slide slide-1 slide-odd'><div data-rel='slideshow-1' class='avia-slide-wrap '   ><img fetchpriority=\"high\" class=\"wp-image-23718 avia-img-lazy-loading-not-23718\"  src='https:\/\/staging.fbt-avocats.ch\/wp-content\/uploads\/2023\/12\/og-dutreilbuild-EN-1492x630.jpg' width='1492' height='630' title='og-dutreilbuild-EN' alt=''  itemprop=\"thumbnailUrl\"   \/><\/div><\/li><\/ul><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-8099055a6552e89656ee2e70845f5ff1\">\n#top .av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1{\npadding-bottom:10px;\nfont-size:26px;\n}\nbody .av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1 .av-special-heading-tag{\nfont-size:26px;\n}\n.av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-8099055a6552e89656ee2e70845f5ff1 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-8099055a6552e89656ee2e70845f5ff1 av-special-heading-h1 blockquote modern-quote  avia-builder-el-1  el_after_av_slideshow  el_before_av_hr  av-inherit-size'><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >The \u00ab Dutreil \u00bb pact in an international context: a precautionary measure to effectively reduce the French tax cost of a company transfer<\/h1><div class='av-subheading av-subheading_below'><p>BSL The Guide to banking in Switzerland &#8211; November 2023<br \/>\nJean-Luc Bochatay and J\u00e9r\u00f4me Bissardon<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpqthvln-edf60761fad835755560d987abf79923\">\n#top .hr.hr-invisible.av-lpqthvln-edf60761fad835755560d987abf79923{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-lpqthvln-edf60761fad835755560d987abf79923 hr-invisible  avia-builder-el-2  el_after_av_heading  el_before_av_button '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div  class='avia-button-wrap av-lpqtm003-06d3b934340ca7ba00bf8d5cd9f82c9b-wrap avia-button-left  avia-builder-el-3  el_after_av_hr  el_before_av_hr '><a href='https:\/\/staging.fbt-avocats.ch\/wp-content\/uploads\/2023\/11\/BSL-2024-Pacte-Dutreil.pdf'  class='avia-button av-lpqtm003-06d3b934340ca7ba00bf8d5cd9f82c9b av-link-btn avia-icon_select-no avia-size-large avia-position-left avia-color-theme-color'  target=\"_blank\"  rel=\"noopener noreferrer\"  aria-label=\"Download pdf\"><span class='avia_iconbox_title' >Download pdf<\/span><\/a><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpqthvln-edf60761fad835755560d987abf79923\">\n#top .hr.hr-invisible.av-lpqthvln-edf60761fad835755560d987abf79923{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-lpqthvln-edf60761fad835755560d987abf79923 hr-invisible  avia-builder-el-4  el_after_av_button  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-lpqt34bs-e4937d6ee6fb8bf73eb238b3b32b6052 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>The fact that a company or its shareholders are located outside France sometimes makes people forget that French tax law imposes duties on gratuitous transfers in many cases, even though the deceased (or donor) is domiciled abroad. The surprise will be bitter for the heirs of an unprepared succession. It is true that the \u2018extensive\u2019 scope of the French tax law on gratuitous transfers is limited by certain double taxation agreements (\u201cDTAs\u201d), but these are relatively old and few in number (35 for inheritance tax and 8 for gift tax). On 7 February 2023, the French Minister of Economy pointed out that \u201cFrance, like many other countries, no longer wishes to enter into DTAs\u201d (Answer published in the JORF on 7 February 2023, p. 1133).<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-f44e3353cd1e7f43c2a88623c665e68a\">\n#top .av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a{\npadding-bottom:10px;\nfont-size:20px;\n}\nbody .av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a .av-special-heading-tag{\nfont-size:20px;\n}\n.av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-f44e3353cd1e7f43c2a88623c665e68a .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-f44e3353cd1e7f43c2a88623c665e68a av-special-heading-h2 blockquote modern-quote  avia-builder-el-6  el_after_av_textblock  el_before_av_textblock  av-inherit-size'><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >Company transfers subject to gift an inheritance tax in France<\/h2><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<section  class='av_textblock_section av-lpqty15c-98626e6c4ed0ddad3c0d6ce3212fea28 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>Subject to any provisions to the contrary contained in rare DTAs relating to inheritance and\/or gifts, free transfer duties are applicable in France on the transfer of companies (Art. 750 ter of the French General Tax Code (\u201cCGI\u201d) :<\/p>\n<ul>\n<li>when a company director resident outside France holds shares in a company in France,<\/li>\n<li>when a company director resident outside France holds shares in a company that is not located in France, but in which one or more of his heirs, legatees or donees are resident in France,<\/li>\n<li>when a company director resident in France holds shares in one or more companies abroad.<\/li>\n<\/ul>\n<p>In all these situations, the application of the \u201cDutreil\u201d scheme provided for in Article 787 B of the CGI can be a useful, even indispensable, tool for reducing the tax cost of a free transfer, the maximum rate of which is 45% in a direct line (parents-children)!<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-992eab018d24222527f78f04db7f354e\">\n#top .av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e{\npadding-bottom:10px;\nfont-size:20px;\n}\nbody .av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e .av-special-heading-tag{\nfont-size:20px;\n}\n.av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-992eab018d24222527f78f04db7f354e .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-992eab018d24222527f78f04db7f354e av-special-heading-h2 blockquote modern-quote  avia-builder-el-8  el_after_av_textblock  el_before_av_textblock  av-inherit-size'><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >Subscribing to a <span class='special_amp'>\u201c<\/span>Dutreil<span class='special_amp'>\u201d<\/span> pact and its beneficial effects on inheritance and\/or gift tax<\/h2><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<section  class='av_textblock_section av-lpqt34bs-e4937d6ee6fb8bf73eb238b3b32b6052 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>The \u201cDutreil-transmission\u201d scheme allows a 75% allowance to be applied to the value of shares in eligible companies (industrial, commercial, craft, agricultural, liberal) when calculating gift or inheritance tax.<\/p>\n<p>The maximum tax cost will be reduced to 11.25% in the event of death, and to 5.63% in the event of a gift of full ownership during the lifetime of the company director (if he or she is under the age of seventy). A gift of bare ownership alone will reduce the tax bill even more drastically.<\/p>\n<p>Business owners will be required to sign a \u201cDutreil\u201d pact for themselves and their successors free of charge, alone or with several partners, for a minimum period of two years, under which they undertake to retain the shares of a company carrying out an eligible business, representing at least 17% of the financial rights and 34% of the voting rights for unlisted companies (10% and 20% for listed companies).<\/p>\n<p>The \u201cDutreil\u201d system applies to shares in both French companies and companies established outside France. We would point out, however, that the formal conditions laid down by the French legislator are sometimes complex to satisfy and often require a comparative analysis to ensure that the mechanisms provided for by the legislation of the State in which the company is located (outside France) comply with those governing the \u201cDutreil\u201d scheme.<\/p>\n<p>The beneficiaries of the transfer will undertake to hold the shares individually for a period of four years from the expiry of the pact, which must be in force at the time of the transfer. One of the signatories of the pact or one of the beneficiaries must hold an eligible management position in the company or must carry out its main business activity, as the case may be, for the duration of the agreement and for three years following the transfer.<\/p>\n<p>Obviously, it will be necessary to check beforehand whether a gift benefiting from the \u201cDutreil\u201d scheme is appropriate under the local law applicable to the donor and the donee(s).<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1\">\n#top .av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1{\npadding-bottom:10px;\nfont-size:20px;\n}\nbody .av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 .av-special-heading-tag{\nfont-size:20px;\n}\n.av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-e6d1661a0540fb8cb1d790948b7bcaa1 av-special-heading-h2 blockquote modern-quote  avia-builder-el-10  el_after_av_textblock  el_before_av_slideshow  av-inherit-size'><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >The tax appeal of the <span class='special_amp'>\u201c<\/span>Dutreil<span class='special_amp'>\u201d<\/span> pact despite the existence of a DTA: the example of the United Kingdom (UK), Belgium (B), Spain (S), Germany (G) and Italy (I)<\/h2><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<div  class='avia-slideshow av-lpquekk3-3c747e5b418f0359c0fa8480db67f032 avia-slideshow-no scaling av_slideshow avia-slide-slider  avia-builder-el-11  el_after_av_heading  el_before_av_textblock  av-slideshow-ui av-control-default av-slideshow-manual av-loop-once av-loop-manual-endless av-default-height-applied avia-slideshow-2' data-slideshow-options=\"{&quot;animation&quot;:&quot;slide&quot;,&quot;autoplay&quot;:false,&quot;loop_autoplay&quot;:&quot;once&quot;,&quot;interval&quot;:5,&quot;loop_manual&quot;:&quot;manual-endless&quot;,&quot;autoplay_stopper&quot;:false,&quot;noNavigation&quot;:false,&quot;bg_slider&quot;:false,&quot;keep_padding&quot;:false,&quot;hoverpause&quot;:false,&quot;show_slide_delay&quot;:0}\"  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><ul class='avia-slideshow-inner ' style='padding-bottom: 82.84561049445%;'><li  class='avia-slideshow-slide av-lpquekk3-3c747e5b418f0359c0fa8480db67f032__0  av-single-slide slide-1 slide-odd'><div data-rel='slideshow-2' class='avia-slide-wrap '   ><img fetchpriority=\"high\" class=\"wp-image-23658 avia-img-lazy-loading-not-23658\"  src='https:\/\/staging.fbt-avocats.ch\/wp-content\/uploads\/2023\/12\/tableau-dutreil-EN.png' width='991' height='821' title='tableau-dutreil-EN' alt=''  itemprop=\"thumbnailUrl\"   \/><\/div><\/li><\/ul><\/div>\n<section  class='av_textblock_section av-lpqt34bs-e4937d6ee6fb8bf73eb238b3b32b6052 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>In conclusion, anticipating the tax costs in France of a gift or an inheritance should not only be a concern for French residents in a \u201chexagonal\u201d environment, but also for those who reside outside France and whose personal, family or asset situation constitutes a connecting factor for taxation in France. Even if a DTA had been concluded between France and the State of residence of the deceased and\/or the donee, we would point out, on the one hand, that it very rarely covers gifts and, on the other hand, that it does not systematically (far from it) exclude the right of the French tax authorities to levy tax.<\/p>\n<p>Therefore, even if no gift is envisaged in the short or medium term, entering into a \u201cDutreil pact\u201d will prove to be a very useful precaution and will make it possible, all other conditions being met, to opportunely reduce (and sometimes eliminate!) inheritance tax in the event of premature death. This measure helps to protect heirs should the worst happen.<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpqthvln-27e3d4689132014f1425f973d38a9921\">\n#top .hr.hr-invisible.av-lpqthvln-27e3d4689132014f1425f973d38a9921{\nheight:10px;\n}\n<\/style>\n<div  class='hr av-lpqthvln-27e3d4689132014f1425f973d38a9921 hr-invisible  avia-builder-el-13  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-m7kqobce-0a7d89334d7c7db87d3eaae385af1ba6 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: right;\"><a href=\"https:\/\/staging.fbt-avocats.ch\/en\/portfolio-item\/jean-luc-bochatay\/\">Jean-Luc Bochatay<\/a><br \/>\nand <a href=\"https:\/\/staging.fbt-avocats.ch\/en\/portfolio-item\/jerome-bissardon\/\">J\u00e9r\u00f4me Bissardon<\/a><br \/>\nPartners, Geneva | Paris<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-642d5874d7c6fe698cea463ae5f9eb80\">\n#top .av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80{\npadding-bottom:10px;\nfont-size:20px;\n}\nbody .av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 .av-special-heading-tag{\nfont-size:20px;\n}\n.av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-642d5874d7c6fe698cea463ae5f9eb80 av-special-heading-h3 blockquote modern-quote modern-centered  avia-builder-el-15  el_after_av_textblock  el_before_av_hr  av-inherit-size'><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Share on LinkedIn<\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lpqthvln-2e2fa36faa97a09467bbe73150a11a71\">\n#top .hr.hr-invisible.av-lpqthvln-2e2fa36faa97a09467bbe73150a11a71{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-lpqthvln-2e2fa36faa97a09467bbe73150a11a71 hr-invisible  avia-builder-el-16  el_after_av_heading  el_before_av_one_fifth '><span class='hr-inner '><span 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