Who has adopted the YIC? - France

The French Government adopted the YIC which came into Force in 2004

The French YIC scheme - Click here for Presentation

Contact the Association who led the lobbying campaign for the YIC in France - France Biotech

The French YIC criteria: A company must correspond to SME (EU definition)

  • Be Less than 8 years old

  • Need to spend more than 15% of budget in “qualified” R&D

  • Need to have more than 50% of shares in the hands of:
        -  VCs, French or foreign
        -  Individuals
         - Academic institutions or foundations

In return the French YICs receive:

- Exemption of social security costs for employees (scientists or not) involved in R&D projects

- Exemption and/or rebate in annual income tax, within the limits set by EU regulator (EUR200K within a 36 months period = “de minimis” rule)

- Exemption of certain local taxes, with the same limitation

- For investors, exemption of capital gains tax