Tax reductions outside property
SOFICA
Financing French film and audiovisual production in return for a tax reduction, with capital only partly returned.
Overview
A SOFICA finances films and audiovisual works in return for a tax reduction of 30% or 48% of the amount paid.
SOFICAs, companies financing the film and audiovisual industry, are approved each year. They raise funds from individuals and invest them in French and European works. Up to €18,000, a subscription gives a tax reduction of 30% of the amount paid. The rate rises to 48% if the company makes certain investment commitments, notably in series or exports. The reduction falls within the raised overall cap. Shares are held for five years. On winding-up, the capital returned is generally lower than the amount paid.
How it works
Subscription
Annual campaign of approved companies
Holding
At least five years
Winding-up
Capital partly returned
Key points
Strengths
- Reduction of 30% or 48% of the amount paid, depending on the company's commitments
- Overall cap on tax advantages raised to €18,000
- Supports French film and audiovisual production
- No management (company approved by the Ministry of the Economy, following an opinion from the CNC)
Points to watch
- Capital returned generally lower than the amount paid
- No liquidity for five to ten years
- Overall cap on tax advantages to be respected
- Outcome depends on the success of the works financed
Who it is for
A SOFICA is for taxpayers who already reach the €10,000 overall cap and want an additional reduction within the raised cap. They accept a probable loss of capital.
Worked illustration
Example based on assumptions
Assumptions: a taxpayer subscribes €15,000 to a SOFICA at the 48% rate and obtains a €7,200 reduction the following year. On winding-up, five to ten years later, the taxpayer recovers an assumed €9,000. The total comes to €16,200 for €15,000 committed. The capital returned is not guaranteed and may be much lower.
Regulatory information
This sheet is a general information document of a commercial nature. It constitutes neither personalised investment advice, nor a recommendation, nor a solicitation, and it is not a key information document. Any decision requires a prior analysis of your situation by a duly authorised professional. Investments carry a risk of capital loss. Past performance is no guide to future performance. Taxation depends on each person's situation and may change.
The tax advantage depends on strict compliance with the legal conditions (duration, ceilings, zoning, tenants, use). Failure to comply leads to its recovery, with late-payment interest. Except where stated, it falls within the overall cap on tax advantages. Risk of capital loss on the underlying asset, limited liquidity during the commitment and exposure to changes in tax law. An operation should be assessed on all its features, including the tax reduction.
Complaints and mediation
Any complaint may be sent to ASTERALE, 4 allée Django Reinhardt, 94110 Arcueil, France, or to sebastien.bailly@asterale.fr. Failing a satisfactory reply within two months, you may refer the matter to the competent mediator. For financial investment advice: the AMF Ombudsman (Médiateur de l'AMF), 17 place de la Bourse, 75082 Paris Cedex 02 (www.amf-france.org/fr/le-mediateur). For insurance broking and intermediation, banking and payment services intermediation and property transactions: ANM Conso, 2 rue de Colmar, 94300 Vincennes (www.anm-conso.com, contact@anmconso.com).
Information sheet updated on 6 October 2026. Download the sheet (PDF)
Book a meeting
The first meeting, of about an hour, is used to check whether this scheme has a place in your wealth.