Et si on créait une société holding ? : réalités juridiques et fiscales
Institution:
Bordeaux 1Disciplines:
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Abstract EN:
A holding company is a civil or commercial company without any industrial or commercial activity which takes participations in the capital of other companies so that ot takes control of them. Nowadays the holding company stands at the crossroad of several changes : concentration phenomenous (financial holding) but also multiplication of firm transmissions (familial holding and retaking holding) search for capitalism without capital (cascade of holdings), financial innovation development (mezzanine financings). The holding system is adapted to all ting developments and has become a basic technical procedure. Despite the back of a specific status in the french law, the latter includes various arrangements related to the holding and leading to the recognition of its proper existence. In the same way, jurisprudence admits clearly the reality and validity of the holding. Practically, the holding company not only holds financial control over the subsidiary but also management. Incidentally, the existence of a grups of companies controlled by a holding improves the completion of operations between companies, insuring a large permeability of patrimony. The pivot holding interferes as "a lender-borrower". As a control agent, the holding ever becomes a usual tool for organizing and restructurating groups of companies. It appears like a modern mears of management.
Abstract FR:
La holding est une societe civile ou commerciale n'exercant aucune activite industrielle ou commerciale qui prend des participations dans le capital d7autres societes lui conferant ainsi le controle de celles-ci. Aujourd'hui, la societe holding est au carrefour de plusieurs mouvances : phenomene de concentration (holding financiere) mais aussi multiplication des transmissions d'entreprises (holding familiale et holding de reprise), recherche du capitalisme sans capital (cascades de holdings), developpement de l'innovation financiere (financements mezzanine). La holding s'est adaptee a tous les processus sensibles et est devenue un procede technique de base. Malgre l(absence de statut propre en droit francais, celui-ci contient diverses dispositions interessant la holding et conduisant a la reconnaissance de son existence specifique. De meme, la jurisprudence admet explicitement la realite et de validite de la holding. Dans la pratique, la societe holding ne se contente pas d'avoir le controle financier sur la filiale et exerce un controle directorial. Par ailleurs, l'existence d'un groupe de societes controlees par la holding favorise la conclusion d'operations entre societes assurant une grande permeabilite patrimoniale. La holding pivot intervient comme "preteuremprunteur". Instrument de controle la holding devient egalement un outil usuel au service de l'organisation et de la restructuration des groupes de societes. Elle apparait comme un instrument de management moderne.