The client is a company operating in the production and commercialisation of natural garden products. Their need was to study the most advantageous solution from a tax point of view to reinvest in real estate activities part of the income derived from the operating company. The solution proposed was to incorporate a holding company into which the shares of the operating company would be transferred. Thanks to this scheme, the holding company will be able to operate directly in the real estate business using the proceeds of the operating activity, reducing the taxation on dividends from 26% to 1.3%. If the need is also to limit the entrepreneurial risk linked to real estate, the client will still have the option of setting up a new company, in turn controlled by the holding company, to operate in the sector. Each of the proposed solutions allows the realisation of the project under tax neutrality, i.e. without the generation of taxable capital gains.