October 2023

Although the PPR account was introduced in 2017, in accordance with BCT circular no. 2017-4, this essential tool for managing the foreign currency assets of Tunisian and foreign residents remains unknown to many potential beneficiaries. However, the PPR account offers its holder several advantages, including wealth optimization opportunities.

Who can benefit from a PPR account? What benefits does it entitle you to? With a view to answering these questions and highlighting the advantages of the PPR account, the Tunisian-French Chamber of Commerce and Industry has just organized, in collaboration with the Union of French Abroad, a seminar on the theme: “PPR accounts (resident individuals) and the optimization of assets in Europe”, where it was a question of presenting the procedures for opening a PPR account, the types of operations that can be carried out on this account and the possibilities for optimizing assets in France and Europe.

Who benefits of the PPR account?

First of all, it should be noted that the PPR account was established with the objective of unifying the various categories of accounts in currencies or convertible dinars and simplifying their mode of operation. Thus, without the need for authorization from the BCT, the opening and funding of the account are delegated to approved intermediaries, while respecting the basic principles of foreign exchange regulations.

It allows its beneficiary greater flexibility in currency manipulation. “Given the restrictions imposed by exchange regulations in Tunisia, the PPR account allows more flexibility in currency manipulation, for resident individuals, both Tunisians and foreigners, whether to spend, have acquisitions or to invest abroad. In short, this account allows its beneficiary to have more room for maneuver, in comparison with the other account regimes in Tunisian dinars,” explained Mehdi Riahi, memorial accountant at the Mazars firm in a statement granted at La Presse.

Indeed, several categories of individuals can benefit from the PPR account, these include Tunisians transferring their habitual residence from abroad to Tunisia (this is the case for Tunisian workers returning permanently) and/or having assets acquired regularly abroad, foreigners residing in Tunisia, persons having interests in the capital of resident legal entities exporting goods or services, diplomats and public sector agents seconded to post abroad and service providers provided to non-residents established outside Tunisia.

How to invest the funds stored in a PPR account?

This tool, with multiple advantages, can also serve as a means of optimizing assets outside Tunisia, particularly in France and Europe. In other words, it can generate leverage to the extent that it contributes to the growth of currencies, through investments made in Europe.

This is what Laurent Caizergues, director of Laplace Afrique, underlined. “PPR account holders can grow their assets by investing abroad with the aim of bringing the fruits of this investment back to Tunisia. The important thing here is this co-development; I use my currencies to grow them into currencies in other countries but to bring the fruit of this action back to Tunisia,” he explained.

And to add: “getting into the habit of making these financial movements, which respect all the laws and tax rules of the country, allows us to enrich this heritage. What is very harmful is putting your money in closed investments, that is to say in tax havens because everyone loses, Tunisia first and foremost. The person who does it also because tomorrow he cannot use his money as he wants. And then, there is a risk that his money will be reversed and, in this case, it is the family who pays the price.”

As for the possibilities of investing funds in foreign currencies through the PPR account, the expert indicated that 100% of the investments made by his wealth management firm are made in Europe on condition of going through the creation of a company and, in this case, you must have a significant amount to be able to access this type of product.

However, with smaller amounts, PPR account holders can invest in real estate or in private equity investments if the provider accepts money from people not resident in France.