The instrument, the package, the move, the return
The firm acts on the choice and drafting of the instruments (preference shares, BSPCE, free shares), on quantifying the net amount on exit, on the consequences of moving to or leaving France, and on the annual returns of the beneficiary and the company.
The numbers before the decision
Every combination run through the firm’s matrix, on the population it is given.
The plan read clause by clause
The plan and a real grant agreement, reread against the French conditions. What fails, whether it matters, and what improves it.
One named lawyer, the same one each year
Each beneficiary is followed on their own position, and by the same contact from the first year.
The instruments available
- Free shares and RSUsCase study · Qualifying a group plan for France→
- Free preference sharesAGADP
- Stock options
- BSPCEstartupsCase study · Comparing a cash bonus with BSPCE→
- BSAshare subscription warrants
- Bespoke management packageCase study · Choosing the instrument before a sale→
- PEEcompany savings plan
- PERretirement savings plan
- Housing benefit in kind
- Inbound regimearticle 155 B
- Expatriation premiumarticle 81 A II, up to 40%
- EEA affiliationDe Ruyter case law
- Pension affiliation waiverarticle L. 767-2
- SecondmentA1 certificate
- Partnership or services company
And they combine. Qualified free shares released against a reinvestment in the PER, for instance, is the retirement variant.
The conditions of each instrument
Size
Free share awards pay off below a certain level of remuneration, and for part of the population only. Above it, cash regains the advantage.
Selective or collective
Savings plans must be open to everyone and cannot replace existing pay. Equity, on the other hand, can be reserved.
The multiple
Article 163 bis H caps what falls within the capital gains regime. Above the cap, the excess is salary.
Mobility
Residence, workdays, and how the gain is split between the countries you worked in during the vesting period.
Thresholds
The €300,000 band, the differential contribution, the matching-contribution caps, and the 90% condition for corporate officers.
Modelling: salary, free shares, co-investment
| Per beneficiary | Salary | Qualified free shares | Co-investment |
|---|---|---|---|
| Received on exit | 1,000,000 | 1,000,000 | 1,000,000 |
| Invested by the beneficiary | 220,000 | ||
| Employee contributions | 101,000 | ||
| Social levies | 168,200 | 186,000 | |
| 10% contribution above €300,000 | 20,000 | ||
| Income tax | 417,600 | 210,790 | 128,000 |
| Exceptional contribution | 40,000 | 40,000 | 40,000 |
| Net in your hands | 441,400 | 561,010 | 646,000 |
For the same value received, the gap between the first and the last column is €204,600 per person.
Modelling and decision-support tools
Waterfalls, liquidity mechanics, incentive plans and shareholding tracking: the firm builds its models in house and runs them on your population rather than on an average.
One award per person, received on exit. Co-investment: €220,000 subscribed per person and returned when the promise is exercised. The company’s value doubles between subscription and exit, so that the article 163 bis H cap stands at €1,100,000 for a gain of €1,000,000 and the entire gain falls within the capital gains regime; above the cap, the excess would be treated as salary, with a 10% employee contribution. Qualified free shares: €500,000 value at delivery, of which €300,000 within the band, abated by 50%, and €200,000 above it taxed as salary with the 10% employee contribution, then a €500,000 capital gain up to the sale. Rates applied: income tax 45%, exceptional contribution 4%, employee contributions 10.1%, deductible CSG 6.8% on the abated amount, social levies on investment income 18.6%, flat tax 31.4%.
These figures are settled at a given moment, on the law in force at the date of publication. They will move with successive finance acts, administrative guidance and case law, the regime applicable to management packages having undergone substantial changes in recent years. The outcome also depends closely on the facts: composition of the population, levels of remuneration, date and terms of the award, holding period, and countries worked in during the vesting period. A change to any one of these shifts the whole.
This table is provided for illustration, on one set of assumptions. It does not constitute advice and does not determine the treatment applicable to any other situation.
Returns, liquidity, mobility and retirement
Filing support
Everything the beneficiary has to file in France, prepared and filed for them: the annual return each spring, and the declarations and instalments that fall due before it.
The liquidity event
The instrument qualified plan by plan, the gain split between the countries worked in during the vesting period, and the net modelled before the sale.
An arrival or a departure
Residence assessed under domestic law and under the treaty, the inbound regime and secondment settled before arrival, and the cost of the move costed over two years.
Preparing for retirement
Rights reconstructed country by country, lump sum weighed against annuity, and the interaction with equity still held.
Wealth structuring
A purchase in France, a gift, a succession: around the package, the legal and tax organisation of your wealth, professional and personal alike.
Frequently asked questions
BSPCE or free shares: what changes for the beneficiary?
BSPCE are reserved for companies under fifteen years old, unlisted or with a market capitalisation below €150m, and at least 15 % held by individuals; the gain is taxed at the flat tax once the holder has been with the company for a year. Qualified free shares follow their own regime: the acquisition gain is taxed at the progressive rates after an allowance, within a €300,000 annual band, and the disposal gain at the flat tax. Which instrument is open to you depends first on the company making the award.
How do I know what my package will actually leave me, net?
The net figure depends on the instrument, the amount, the holding period and the country of employment during the vesting period. The firm runs each scenario, contributions and tax included, before the instrument is settled.
What does article 163 bis H cap?
Since 2025, the gain made by a director or an employee on shares acquired in connection with their duties falls within the capital gains regime only up to a multiple of the company’s financial performance; the excess is taxed as salary. The multiple is computed on the company’s value between acquisition and disposal.
I am moving to France with RSU granted abroad: how are they taxed?
The acquisition gain is split between the countries where the activity was carried out during the vesting period, by workdays. The French share is taxable in France, with the inbound regime of article 155 B potentially applying to shares granted after the arrival.
Can the firm review my plan before I sign?
Yes. The points examined are the eligibility of the plan, the characterisation of the gain, the leaver clauses and the tax timetable. The review calls for the plan rules and the grant agreement you are being offered.
Answers current as at 9 September 2026
Publications and award
2026 OCCUR Prize, Interprofessional CollaborationLa Rencontre OCCUR Paris
Press contribution · 24 June 2026Entrepreneurs: structuring your wealth alongside your business (in French)
Expert view · 6 October 2026Pharmacy owner’s remuneration: three structures, three approaches (in French)- Interview · 28 September 2026Setting up and handing over a pharmacy: why and how to plan ahead (in French)
ArticlesThe firm’s articles on the National Bar Council’s platform
Joint publication · 26 July 2026BSPCE: no contributions, but a line in the DSN payroll returnwith Arnaud Albalat (Galadrim) and Laura Sinthe (Puncto)
AbracamoveJoint publicationInternational retirement: what the country of residence changeswith Delphine Bes (Abracamove)
A package under negotiation, or an exit on the horizon?
The firm runs the scenarios on your situation and the resulting net, before the instrument is settled.