Legal & Tax
Exit taxation for a tech founder: France, Switzerland and Luxembourg compared
A €5M exit can yield €3.5M net in France or €4.9M net in Switzerland, €1.4M gap on the same transaction. Factual 2026 regime comparison. For informational purposes, consult a tax advisor.
Warning: this article is for exclusively informational and educational purposes. It does not constitute tax advice. Consult an M&A specialist tax advisor before any decision. Figures correspond to regimes in force in 2026 per available public information.
France, PFU 30%
Founder 100% of shares, disposal price €5,000,000, capital gain = ~€4,999,000. PFU regime: 12.8% income tax + 17.2% social charges = 30%. Tax: ~€1,500,000. Net received: ~€3,500,000. Contribution-sale mechanism (Art. 150-0 B ter CGI): allows deferring taxation under conditions of 60% reinvestment in economic assets within 2 years. Complex, requires a tax lawyer.
Switzerland, 0% federal
Founder resident (canton of Zug or Zurich), shares in a Swiss LLC. Capital gains on disposal of shareholdings exempt from federal direct tax (provided shareholding is not "commercial assets"). Only cantonal wealth tax (~0.1–0.3%/year of assets) applies on the resulting wealth. Approximate net on €5M exit: ~€4,900,000. Gap vs France: +€1,400,000.
Luxembourg, Participation exemption
Luxembourg holding with ≥ 10% shareholding (or acquisition value ≥ €1.2M) held for ≥ 12 months: 100% exemption on disposal capital gains (under conditions). Effective rate < 2% in optimised structures. Caution: French exit tax (Art. 167 bis CGI), a residence transfer just before disposal can be requalified by the DGFiP.
30%
Effective exit rate France (PFU, 2026)
~0%
Swiss federal exit rate (individuals)
< 2%
Effective rate Luxembourg holding (participation exempt)
1,4M
Net gap France vs Switzerland on €5M exit
This article was written with the assistance of artificial intelligence and reviewed under Aegryn editorial responsibility. In accordance with Article 50 of the EU AI Act, we assume editorial responsibility for this content.
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