Ever higher levies, close to 50% for individuals and more than 60% for small businesses, in a country that is increasingly difficult for those who create value.
We are fully aware of these realities. That is precisely why we maintain a very wide range of investment and advisory solutions in France, set out on our financial investments page.
Even so: if you hold more than €100,000 in savings or have strong borrowing capacity, whether you run a business, are employed or retired, it is time to protect your wealth.
Switzerland does not tax the capital gains of private investors: no withholding on the account, so performance stays intact. Your final tax position then depends on your country of tax residence.
The risk of a French sovereign default draws closer year after year. And beyond the guarantee thresholds, your savings are no longer necessarily protected: the public guarantee covers €70,000 per insurer for life insurance and €100,000 per bank for deposits. Above those limits, you are exposed.
Diversifying outside France is therefore not a gamble: it is a protective measure.
• Premium financial investments in Luxembourg, Switzerland, Ireland and the United States.
• Property in the United States, Portugal, Mauritius, Bali, the United Arab Emirates and Singapore.
• Physical gold, silver and other commodities.
• International investment and private equity funds.
• Club deals and direct participations.
We are present in more than twenty countries, including the major financial centres: the United States, Canada, Switzerland, Luxembourg, the United Arab Emirates, Hong Kong, China and Singapore.
It protects your savings and your purchasing power.
Under the security triangle, the funds are held by a custodian bank separate from the insurer, and they are guaranteed by the insurer's own funds at 100% (over-collateralisation), against only €70,000 in France.
The contracts are audited every three months by the Commissariat aux Assurances, an independent body of the Luxembourg state.
Faced with the fall of the euro, a policy can be converted into US dollars, Swiss francs or sterling: the account is multi-currency and diversified.
Finally, Dedicated Internal Funds allow a bespoke contract to be built around private equity, property funds, equities and bonds from around the world, the United States, Europe and Asia.
With Generali, Swiss Life and Wealins, we offer individuals and companies Luxembourg contracts that protect and grow their savings under optimal conditions.
Luxembourg is the safest and most stable country in the European Union: public debt below 30% of GDP and a AAA credit rating.
Access to private-banking products, club deals, business angel investments, private equity and bespoke structured products, across several countries (Switzerland, Singapore, Hong Kong, Dubai) and several currencies (Swiss franc, US dollar, euro, yen, yuan), with entry tickets that vary by product.
Given the state of French public finances and the risks that follow, we place our clients' savings abroad above €100,000 as a matter of course, unless the investor decides otherwise.
Switzerland, the leading financial centre outside the European Union, is a world reference for investment.
• An exceptionally developed country, first in the world for human development, with low inflation and high wealth per capita, and politically stable, Switzerland allows complete freedom of investment.
• With Swissquote, Switzerland's leading online bank, we give access to every global instrument: ETFs, private equity, direct equities, bonds and cryptocurrencies.
• More than 100,000 investment funds, commodities (gold, silver, oil, wheat), derivatives and bespoke structured products.
Switzerland does not tax the capital gains of private investors: no tax is withheld at source on the account, leaving performance intact. Your final tax position then depends on your country of tax residence.
• A Mastercard usable worldwide, in 26 currencies.
• The ability to borrow at Swiss rates, markedly lower than French ones: mortgage lending and Lombard credit, which extends your portfolio at modest cost.
• Millions of financial instruments and bespoke structured products.
• The ability to invest and pay in cryptocurrencies, with no conversion fees and no Swiss levy.
• A premium, responsive client service.
Beyond standard wrappers, we provide access to European contracts offering a legal framework and flexibility well above a domestic policy, particularly relevant for internationally mobile clients.
Luxembourg applies a protection mechanism unique in Europe, the security triangle: policyholders' assets are held by a custodian bank independent of the insurer, supervised by the Commissariat aux Assurances, and legally segregated from the insurer's balance sheet. In addition, the super-privilege ranks the policyholder as a first-priority creditor should the insurer fail, ahead of the State and employees, with no compensation ceiling.
The Luxembourg contract also allows multi-currency holdings (euro, US dollar, Swiss franc, sterling) and access to dedicated internal funds, enabling genuinely bespoke portfolio management rather than selection from a closed list. Finally, Luxembourg applies tax neutrality: taxation follows the policyholder's country of residence. For anyone likely to relocate, this avoids having to surrender the policy when moving, a decisive advantage for international wealth.
Where a life insurance policy imposes a contractual framework, a Swiss bank account offers complete investment freedom. Three features set it apart.
No taxation at account level. Unlike an insurance wrapper, a bank account generates no taxation of its own: there is no wrapper-level tax and no minimum holding period required to obtain favourable treatment. You are simply taxed according to your country of residence, where the account must be declared.
Exceptional investment flexibility. The investable universe is global and unrestricted: ETFs, direct securities, bonds, private equity, tailor-made structured products, club deals and commodities : in Swiss francs, US dollars, euros, sterling or yen. You trade freely, without the closed fund lists typical of insurance contracts.
The excellence of Swiss private banking. The leading financial centre outside the European Union, Switzerland combines legal and monetary stability, banking strength and a standard of service that remains the global benchmark in wealth management. It also diversifies jurisdictional risk, complementing a Luxembourg contract.
| Criterion | French policy | Luxembourg policy | Swiss bank account |
|---|---|---|---|
| Entry level | Low | €250,000 | €300,000 |
| Investment universe | Closed fund list | Dedicated internal funds | Global, unrestricted |
| Multi-currency | Rare | Yes | Yes (CHF, USD, EUR, GBP, JPY) |
| Wrapper-level taxation | French regime | Tax neutrality | None at account level |
| Specific protection | Capped guarantee | Security triangle + super-privilege | Swiss banking strength |
| Relevance if you relocate | Limited | Strong | Strong |
A securities account is the most open wrapper there is: no ceiling, every market, every currency. We manage one from €50,000 and recommend holding it outside France, for the same reasons of protection and diversification.
| Partner | Domicile | What sets it apart |
|---|---|---|
| Swissquote | Luxembourg | A genuine bank account: Mastercard in 26 currencies, Lombard and mortgage lending, settlement in cryptocurrencies |
| Interactive Brokers | Ireland, European IBAN | More than 5 million instruments: equities, ETFs, bonds, commodities, derivatives |
| Exante | Cyprus, FCA licence in London | A broad range of instruments and a lighter European framework |
Beyond financial wrappers, we structure premium transactions for our clients in the Middle East and Asia. A few representative examples.
Transactions carried out in Mauritius and the United Arab Emirates, two markets combining favourable taxation, a stable or dollar-pegged currency, and sustained rental demand. The choice of country depends on your objective: rental yield, long-term appreciation, or a prospect of residency.
Participation in roundtables and direct investments in British and Emirati start-ups. These transactions are illiquid and risky by nature, and are only appropriate for a limited share of a portfolio and for an experienced investor.
Physical gold and silver available, with Godot & Fils as our reference partner in France, complemented by partners in Switzerland and Belgium. Physical holdings answer a logic of wealth protection, distinct from that of an income-producing investment.
Bespoke arrangements in Europe, Switzerland, Dubai, Cyprus, Hong Kong and Singapore, structured according to the client's nationality and tax residence. More than a million tokens accessible, along with the USDC and USDT stablecoins with remunerated staking. On request.
Holding a contract or an account abroad is entirely legal, on one condition: that it is declared. Every foreign account and life insurance policy must appear on your annual tax return, and institutions exchange information automatically with the tax authorities.
We only put in place solutions designed to be declared and documented. Concealment is not optimisation: it is a criminal offence, and it is not a service this firm provides.
Written by Mevlana Yildirim, founder of Constellation Patrimoine, a French Financial Investment Adviser, registered with ORIAS under no. 26006339. Offices at 11 Avenue de Friedland, 75008 Paris, and through Mevlana Investments LLC in Dubai, first discovery meeting free of charge. General information for guidance only; it does not constitute personalised advice. Tax regimes and guarantee thresholds change and depend on your country of residence.
For three reasons. Legal protection first: in Luxembourg the security triangle and the super-privilege place the policyholder ahead of other creditors, with no ceiling, whereas the French guarantee on life insurance is capped at €70,000 per insurer and bank deposits at €100,000 per bank. Currency diversification next, which protects against a fall in the euro. And finally the investable universe, far wider than a French contract with a closed list.
From €100,000 of savings, or strong borrowing capacity. Above that level we place our clients' savings abroad by default, unless they choose otherwise. Swiss online banking contracts start at €100,000, Luxembourg policies at €250,000, and wealth management at €500,000.
Yes, it is entirely legal, and yes, it must be declared. Every bank account and life insurance policy held abroad must appear on your annual tax return, and institutions exchange information automatically with the tax authorities. We only put in place arrangements designed to be declared: concealment is a criminal offence, not optimisation.
Switzerland indeed does not tax the capital gains of private investors, which removes any taxation at source on the account. Your final tax position, however, depends on your country of tax residence: a French resident remains taxable in France on gains wherever they arise. The advantage becomes complete on a change of residence, a subject we address case by case.
We are present in more than twenty countries. For financial investments: Luxembourg, Switzerland, Ireland and the United States. For property: the United States, Portugal, Mauritius, Bali, the United Arab Emirates and Singapore. For private equity, commodities and digital assets the scope extends to Hong Kong, Singapore, Cyprus, Canada and China.
Luxembourg life insurance remains an insurance wrapper: exceptional legal protection and a privileged succession framework, but a contractual structure. A Swiss bank account carries no tax at wrapper level and opens a universe with no closed list, in exchange for no specific succession advantage. The two are complementary and are frequently combined.
Take advantage of an initial exploratory interview to assess your financial needs and find out how we can help you.
01Let's work together to establish the terms of our partnership, proposing personalised solutions tailored to your financial situation.
02Dive into exciting investment opportunities and grow your money to achieve your financial goals with confidence and success.
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