TRUSTS IN THE NETHERLANDS
TRUSTS IN THE NETHERLANDS
TRUSTS IN THE NETHERLANDS
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<strong>TRUSTS</strong> <strong>IN</strong> <strong>THE</strong><br />
NE<strong>THE</strong>RLANDS<br />
BERT GROOTJANS<br />
TTN NEW YORK, MAY 2012
DISCRETIONARY TRUST<br />
FOUNDATION<br />
CHARITABLE TRUST
DISCRETIONARY TRUST<br />
“OWNED” FOR TAX PURPOSES BY<br />
SETTLOR<br />
AFTER DEATH OF SETTLOR<br />
“OWNED” BY <strong>IN</strong>TESTATE HEIRS
BENEFICIARIES GENERALLY NOT<br />
RELEVANT<br />
APPLIES FOR <strong>IN</strong>COME TAX AND<br />
<strong>IN</strong>HERITANCE TAX
• IF TRUST SUBJECT TO AT LEAST 10%<br />
<strong>IN</strong>COME TAX IT IS NOT TRANSPARENT FOR<br />
<strong>IN</strong>COME TAX PURPOSES;<br />
• ANNUAL TEST<br />
• DOES NOT APPLY FOR <strong>IN</strong>HERITANCE TAX
DISTRIBUTION TO<br />
BENEFICIARY<br />
GIFT FROM SETTLOR TO BENEFICIARY<br />
GIFT TAX CAN BE APPLICABLE<br />
IMPORTANT QUESTION:<br />
IS SETTLOR RESIDENT OF<br />
NE<strong>THE</strong>RLANDS, ACTUAL OR DEEMED?
IF SETTLOR NOT RESIDENT <strong>IN</strong> <strong>THE</strong><br />
NE<strong>THE</strong>RLANDS – USUALLY NO TAX<br />
BEWARE REVERSE SITUATION WITH<br />
DUTCH RESIDENT SETTLOR AND<br />
FOREIGN BENEFICIARIES – COULD BE<br />
DOUBLE TAX
CAN USE STRUCTURE FOR ASSET<br />
PROTECTION<br />
NO GIFT ON TRANSFER TO TRUST
FOUNDATION<br />
(STICHT<strong>IN</strong>G)<br />
OFTEN USED TO HOLD SHARES <strong>IN</strong><br />
DUTCH COMPANY<br />
FOUNDATION ISSUES DEPOSITORY<br />
RECEIPTS
DEPOSITORY RECEIPTS HAVE<br />
ECONOMIC BENEFITS OF SHARES<br />
FOUNDATION HAS VOT<strong>IN</strong>G POWER
OFTEN USED <strong>IN</strong> SUCCESSION<br />
SITUATIONS OR<br />
WHERE NAME OF BENEFICIAL OWNER<br />
NOT DISCLOSED TO PUBLIC (STILL<br />
DISCLOSED TO BANK AND<br />
MANAGEMENT)
CHARITABLE TRUST<br />
NEW TYPES FROM 1 JANUARY<br />
CAN BE USED FOR MORE PURPOSES
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