Key Haven Publications plc Luxembourg: A New Trust Jurisdiction? As of 1st January 2004 the Hague Convention on the Law applicable to Trusts and on their Recognition.. Product #: 9781901614220 Regular price: $75.00 $75.00

Luxembourg: A New Trust Jurisdiction?

£75.00

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As of 1st January 2004 the Hague Convention on the Law applicable to Trusts and on their Recognition of 1st July 1985 came into force in the Grand Duchy of Luxembourg. Trusts have therefore obtained a full right of citizenship in a further civil law country, after the successful experiences of Italy, the Netherlands and Malta.

By the same token, the domestic regulation of Luxembourg fiduciary contracts was amended in such a way to fit the definition of “trusts” under the Hague Trusts Convention and therefore to qualify as the civil law equivalent to a trust.

A pragmatic and effective legislation allows to consider the Luxembourg fiduciary contract as a possible alternative to other international fiduciary arrangements, especially in a financial context. This book provides an accurate and updated coverage of Luxembourg fiduciary contracts and their main applications in the context of banking transactions, financial security arrangements and securitisation.

The alternative forms of fiduciary set-ups available under Luxembourg law are equally surveyed with a comparative perspective. At the same time, the book provides an extensive coverage of the use of trusts in Luxembourg, with a specific focus on case law, tax issues and banking practice.

The taxation of trusts under the European savings Directive 2003/48/EC of 3rd June 2003 is specifically dealt with, as well as the interplay between the Luxembourg banking secrecy requirements and disclosure duties under the “know your customer” regulations currently in force. Some practical issues as regards banking operations involving trusts are dealt with in some detail.

Publisher: Key Haven Publications plc
ISBN: 9781901614220
Author(s) Panico, P
Edition 1
Format Hb
Publication Date 01/09/2005