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By Emre AKAN, Counsel, Tax Gonzalo BURGALETA AZA, Legal Advisor, Tax, DLA Piper Luxembourg
Luxembourg legislation governing its bespoke vehicle for private wealth management, the Société de gestion de patrimoine familial (“SPF”), has recently been amended. The Bill(1) brings several new measures, including the introduction of new fines up to EUR 250,000.
This article explores the popularity of the SPF, key structuring considerations, and what market participants should be aware of considering the recent changes.
Private wealth management is in vogue
Figures recently published by The Economist reveal that people in advanced economies stand to inherit around USD 6 trillion this year –...
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