TEP-talk: Trusts, Trust Deeds, … in Belgium ? … Definitely not?
23 June @ 18:00 – 19:30
Belgian law does not have trusts, but they are not an unknown notion in Belgium. However, how does Belgium cope with trusts?
Trusts are a typically Anglo Saxon notion. And when you are British, Irish, American, Canadian, … you will have come across trusts, you may have set up a trust, you may be a trustee yourself or you may be the beneficiary of a trust.
You may have an IRA, an ISA, a SIPP, a QROPS, … all of these are set up with a trust. You may have taken out an insurance wrapper and set that up with a trust. You may have a will and appointed someone as your executor and trustee. Your company pension may be in a trust…
Those are only some of the examples where trusts are used.
But how is such a trust dealt with in Belgium ? Belgian law does not have trusts, but they are not an unknown notion in Belgium. However, how does Belgium copes with trusts?
Not too well. What’s more, they are often seen as ways of avoiding tax. Belgium understands that there is something in a trust, but is reticent to just acknowledge them, and the Cayman Tax is just one expression of that reluctance.