What are the latest investments in start-ups decided by ALIAD, the Air Liquide Group’s venture capital arm?
In the five years of its existence, ALIAD has made 30 investments in start-ups. The targeted sectors are linked to the major trends identified by the Group as representing growth opportunities: the energy transition, health and digital. These investments are accompanied by rolling out business or Research & Development partnerships with Group entities. As part of the digital transformation, we have taken equity in Proxem, a pioneer in semantic analysis software and online services for extracting relevant information from a large volume of textual data. Air Liquide uses this start-up’s solution in several ways, for example to analyze its customers’ feedback. ALIAD also invested in Ubleam, a Toulouse-based start-up specialized in the Internet of Things. Ubleam has designed a technology solution involving round and “smart” barcodes, along with augmented reality capabilities to access the detailed characteristics of a product, or the volume available in a gas cylinder. In the healthcare sector, ALIAD acquired an equity stake in Dietsensor, which offers an innovative application for diabetic patients that helps them track the glucose levels of their meals, and in Diabeloop, an emblematic start-up working on the development of the artificial pancreas.
Can I pass shares on to my children and continue to receive the dividends? (for French tax residents only)?
Yes, this is possible with a hand-to-hand gift or shared-gift, by opting for what is known as a donation with division of share ownership with usufruct reserved. It is very simple: you transmit the bare ownership value of your shares to your children while retaining the usufruct. You continue to receive dividends, take part in general meetings and manage your share portfolio. You may sell all or some of shares with the agreement of the bare owners. The loyalty bonus is preserved. Concerning the formal process:
The hand-to-hand gift may be made before a notary, or at a minimum declared to the French tax administration using form 2735. This process is associated with a tax exemption for gift amounts up to €100,000 every 15 years, per child and for each of the parents. It is reportable with respect to the donor’s estate.
A shared-gift is drawn up with a notary as an authenticated deed. It reduces inheritance taxes, based on the value of the bare ownership of shares according to the legal scale and based on the age of the usufructuary. Unlike the hand-to-hand gift, the shared-gift is not reported in the inheritance. Upon the donor’s death, the beneficiary children become full owners of the property, without taxation.
Passing on shares taxation differs country by country. Please get advice from your country financial experts.