Private Assets Management Company
in Luxembourg (SPF)
Luxembourg has passed a new fiscal regime (11
May 2007) designed specifically for private investors and individuals.
The Family Private Assets Management Company,
in summary "SPF".
The regime “SPF" can be chosen by
a company whose form must be: Sàrl (capital
12 500 Euro - one associate- one Director), SA
(capital 31 000 Euro - including at least 1/4 paid in - at least
one shareholder and one director - one auditor), SCA
(capital 31 000 Euro - including at least 1/4 paid in - at least
two shareholders and three directors - one auditor), COOPSA
(Co-operative Company having adopted the Form of a Limited company,
at least three associates, 3 directors). The shares of a SPF can
be nominative or at the bearer but cannot be quoted.
The activity is strictly limited to acquisition, detention, management
and realization of financial assets such as: shares, obligations,
shares of quoted companies or private companies, securitization
funds, Soparfi shares, variable capital companies,
Holding 1929 (within the limits of the Law),
deposit accounts, SICAV, Luxembourg or foreign
investment funds, structured products, hedge funds, precious metals,
options, warrants, indices, currencies, ... to guarantee or make
non bearing interest loan to its subsidiaries.
The shareholders of this SPF must be:
1) individuals (other than company) resident or non resident
• a restricted circle of investors;
• a family group;
• a Family office;
• a investment club;
• a group of investor managing their private savings.
2) Entities known as managing patrimonial assets, resident or
non resident:
• trusts;
• private foundations;
• stitching;
• administratie kantoor ;
• similar entities with or without the legal personality
acting within the management individuals’ assets;
• Any type of nominee agreement by intermediaries holding
the shares of the SPF as fiduciary (banks acting within a fiduciary
contract, mandate).
This regime provides a full exemption of withholding, income wealth
and communal tax, profits and dividens or other bénéfices,
dividendes or others obtained by the company in its social frame.
|
