Step 1: Choose the type of PEA suited to your profile

There are mainly two types of PEA:

• Standard PEA: Contribution ceiling of €150,000, investment in listed European stocks and eligible UCITS.
• PEA-PME: Additional ceiling of €75,000, focused on European SMEs and mid-caps, to support the local economy.

You can combine a standard PEA and a PEA-PME, with a total ceiling of €225,000.

Step 2: Compare financial institutions

The PEA can be opened with traditional banks, online banks, or specialized brokers. Here is a concrete comparison in 2026:

Institution	Opening Fees	Annual Management Fees	Transaction Fees (stocks)	Advantages
Traditional Bank (e.g., BNP Paribas)	€0	0.5% to 1%	0.5% per transaction (min €5)	Personalized advice, physical branch network
Online Bank (e.g., Boursorama)	€0	0.3% to 0.5%	€1.99 per transaction	Competitive pricing, digital interface
Specialized Brokers (e.g., TradeXora.com)	€0	0% to 0.3%	€0.5 per transaction	Very low fees, access to a wide range of stocks

Step 3: Gather the necessary documents

To open a PEA, you must provide:

• A valid ID (identity card, passport)
• A proof of address less than 3 months old
• A bank account details document (RIB) if you open the PEA at a bank different from your current account
• Your tax identification number

Step 4: Complete the opening form and sign the contract

Most institutions offer 100% online opening. You will need to fill out a form with your personal information, investor profile, and choose management options (self-managed or discretionary).

Step 5: Make your first deposit

The initial deposit may vary depending on the institution, but it is often possible to open a PEA with a modest amount (e.g., €100 at some brokers). You can then fund your PEA with free or scheduled deposits up to the authorized ceiling.

Concrete Comparison: PEA vs CTO vs Life Insurance vs PER in 2026

For the French investor, choosing the right wrapper is crucial. Here is a summary comparison table:

Wrapper	Taxation after 5 years	Ceiling	Investment Vehicles	Advantages
PEA	Tax exemption + social contributions (17.2%)	€150,000 (standard) + €75,000 (PEA-PME)	European stocks, UCITS	Favorable taxation, reinvested dividends
Ordinary Securities Account (CTO)	Income tax + social contributions	Unlimited	Global stocks, ETFs, bonds	Total freedom, asset diversity
Life Insurance (AV)	Favorable taxation after 8 years	Unlimited	Euro funds, unit-linked funds	Optimized inheritance, flexibility
Retirement Savings Plan (PER)	Deduction of contributions, taxation at withdrawal	Unlimited	Stocks, bonds, diversified funds	Tax advantage at entry, retirement preparation

For the French investor: practical advice in 2026

The PEA is particularly suited for investors wishing to build a portfolio of European stocks with tax optimization. In 2026, prioritize:

• An online or specialized broker to reduce fees
• Diversification between standard PEA and PEA-PME
• Active or discretionary management depending on your time and expertise
• Attention to regulatory changes and ceilings

Finally, do not hesitate to combine your PEA with Life Insurance or a PER to diversify your wealth strategy.

Disclaimer

The information provided in this article is for informational purposes only and does not constitute personalized investment advice. Past performance does not guarantee future results. Before making any decision, consult a financial or tax advisor suited to your situation.