PortefeuilleZen

The PEA (French equity savings plan)

A regulated French wrapper for investing in European equities, with specific tax treatment after a minimum holding period.

What is a PEA?

The Plan d'Épargne en Actions (PEA) is a regulated French investment wrapper, reserved for French tax residents, mainly used to invest in eligible European equities and funds while benefiting from a favorable tax treatment after a minimum holding period.

How it works

A PEA combines a securities account and an associated cash account. Deposits are capped (the regulatory cap applies to contributions, not to the plan's market value). Eligible securities must meet regulatory criteria (broadly, companies headquartered in the EU/EEA).

Key takeaway

Withdrawing before a certain holding-period threshold can trigger the closure of the plan, depending on the rules in force at the time of withdrawal.

Taxation

The PEA's main benefit is the tax treatment of capital gains and dividends realized within the plan, subject to the minimum holding period set by current regulations. Social security contributions generally still apply.

Attention

Tax rules change regularly and depend on each taxpayer's personal situation. This page does not replace personalized tax advice — always check the rules currently in force with an official source.

Limits and things to watch

The PEA cannot hold every financial instrument (no direct US stocks, for instance) and has a contribution cap. It remains one wrapper among others (standard brokerage account, life insurance...), each with its own rules.

Tracking it in PortefeuilleZen

A PEA is added as an account at its institution. Buys, sells and dividends can be entered or imported; PortefeuilleZen tracks each holding's value and its average cost. Many ETFs exist in a PEA-eligible version: eligibility depends on the exact instrument, not on the index it tracks.