The main global navigation satellite systems (GNSS) technique currently used for accurate time and frequency transfer is based on an analysis of the ionosphere-free combinations of dual-frequency code and carrier phase measurements in a precise point positioning (PPP) mode. This technique analyses the observations of one GNSS station using external products for satellite clocks and orbits to determine the position and clock synchronization errors of this station. The frequency stability of this time transfer is limited by the noise and multipath of the Global Positioning System (GPS) and Globalnaya Navigatsionnaya Sputnikovaya Sistema (GLONASS) codes. In the near future, Galileo will offer a broadband signal E5, with low noise in the centimeter range and with the lowest multipath error ever observed. This paper investigates new analysis procedures based on the E5 codeplus- carrier (CPC) combination for time transfer. The CPC combination with E5 provides a noise level 10 times lower than the ionosphere-free combination of Galileo E1 and E5, which is very promising for improving GNSS time transfer performances. From some tests with simulated Galileo data, it is shown here that the use of the CPC combination with E5 does not improve, at present, the medium- and long-term stability of time transfer with respect to the ionosphere-free combination of Galileo E1 and E5 codes, because of the need for a second frequency signal to correct for the ionospheric delays and ambiguities.