Trusts are complicated but there is an alternative

When it comes to financial planning in the UK, a trust is a standard tool, most commonly used for inheritance tax.

In France, however, there is no such concept as a trust (however there is arguably a version of one, but I will return to that later...).

In 1987 work began on a French piece of draft legislation to define what trusts are and how they should be dealt with under French law. Two decades later it was still draft law and it looked as though it would never get anywhere, but by 2007 (a whole two decades later) legislation started to form. What was clear from the law is that the French fiscal authorities were deeply suspicious of trusts.

As from July 2011, French residents placing capital into trusts are viewed as ...

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