Investing in cinema to reduce taxes: what SOFICAs are really worth in 2026

But SOFICAs are not one of the investments that we recommend to everyone. Maxime Roussigné, financial investment advisor and moderator of Vosfinances, is cautious: “SOFICAs may have an interest in certain highly taxed investorsbut they should not be analyzed solely through the income tax reduction. The underlying is risky, the money is blocked, liquidity is low, and the final return may be disappointing. »

What the device actually allows

The tax reduction is calculated directly on the amount invested, at a rate which varies according to the commitments made by SOFICA. There are three levels: 30 %, 36 % and 48 %. The rate rises to 36% when SOFICA undertakes to invest at least 10% of its funds in the form of subscriptions to the capital of production companies before the end of the following year. The maximum rate of 48% is reserved for SOFICAs which, in addition, devote at least 10% of their investments to series, documentaries or to the export of French works.

In addition to this, SOFICAs fall under the ceiling increased by 18,000 euros and 25% of the household’s overall net income from tax loopholes, which replaces the common law ceiling of 10,000 euros. An investment of a maximum of 18,000 euros, also at the maximum rate of 48%, therefore brings the tax reduction to 8,640 euros (because it is directly a tax reduction, and not a deduction from income as for the PER for example). A very attractive figure…

Immobilized capital and almost zero liquidity

But Maxime Roussigné reminds us of a golden rule when looking for tax exemption: “It is always necessary distinguish the tax advantage from the investment itself “. A rule which, in reality, should be kept in mind for all tax reduction schemes through investment: FCPRs, the Jeanbrun scheme (which succeeded Pinel)… For SOFICAs, “the tax reduction can be attractive, but it does not eliminate the economic risk: capital loss, immobilization of capitaland disappointing total return ».

In other words, even with 8,640 euros of tax savings, an investor who recovers 8,000 euros out of 18,000 invested after eight years has not necessarily made a good transaction. In addition, our expert specifies that “Depending on the devices, there may also be a risk of questioning of the tax advantage if the conditions are not respected. »

For which profile is this still relevant?

“In my opinion, SOFICAs are a very specific diversification tool, and should not be presented as a basic asset investment”assures Maxime Roussigné. For a SOFICA to be financially attractive, several conditions must be met: be heavily taxed (a marginal bracket of 41% or 45% is generally cited as a threshold of relevance), not need this cash for at least six years, but above all, already have diversified investments. SOFICAs should not be the backbone of a tax strategy.

The SOFICAs approved for the current year are published by the CNC (National Center for Cinema and Animated Images) on its official website in the fall.