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Unblocking the bottlenecks of the Estonian wealth-management scene for private foundations

Article in Oxford University Press magazine Trusts & Trustees: "Unblocking the bottlenecks of the Estonian wealth-management scene for private foundations” The leading international journal on trust law and practice has published another article “Unblocking the bottlenecks of the Estonian wealth-management scene for private foundations?” written by Katrin Sepp, Urmas Kaarlep and our head of Wealth Planning Turgay Kuleli.

The purpose of this article is to present proposals to the Estonian legislator for removing the bottlenecks in the law that may hinder the establishment of private foundations in Estonia. These include the current double taxation of private foundations, the taxation of non-resident beneficiaries, public accessibility of documents, and the number of people involved in the administration of foundations. The authors propose a new, special type of foundation—a private foundation with limited economic activity, non-public documents, compulsory annual review by an auditor, relaxed requirements for the formation of the supervisory board and last, but not least, a special tax regime.

 

The article on the Internet can be read HERE.

 

The full text of the article above can be read HERE.


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