BSPCE: grants extended to employees and managers of sub-subsidiaries

Article 25 of the 2026 budget act amends Article 163 bis G of the General Tax Code: founder share warrants (BSPCE) can be granted to employees, managers and board members of sub-subsidiaries held directly by subsidiaries of the issuing company, provided the product of the holding percentages reaches at least 75%. The minimum share of the issuing company's capital held by individuals falls from 25% to 15%, and a four-year period provided for in paragraph II becomes five years.