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Discretionary trusts—last exit before AEOI? The Swiss view

Are discretionary trusts the way of getting around Automatic Exchange of Information? 'No' is the answer if financial assets are to be held or administered in a Common Reporting Standard (CRS) jurisdiction, certainly if the aim is to enjoy the benefit of trust property. Certain loopholes m...

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Bibliographic Details
Published in:Trusts & trustees 2016-05, Vol.22 (4), p.393-400
Main Authors: Fischer, Michael, Rohner, Tobias F.
Format: Article
Language:English
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Summary:Are discretionary trusts the way of getting around Automatic Exchange of Information? 'No' is the answer if financial assets are to be held or administered in a Common Reporting Standard (CRS) jurisdiction, certainly if the aim is to enjoy the benefit of trust property. Certain loopholes may be open for those prepared to forego the enjoyment of assets or to establish the entire structure in non-CRS territory (which may include the USA). Given the way the world is headed, however, one should not be surprised to see any gaps in the system plugged at some point not too distant.
ISSN:1363-1780
1752-2110
DOI:10.1093/tandt/ttv193