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20 December 2016

France modifies accessibility of French Trust Register

The French Government issued a new Ordinance on December 1, that transposes the 4th Directive (EU 2015/849) of April 20, 2015, on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing into French law (the Ordinance). Article 10 of the Ordinance revises the provisions related to the French Trust register. This revision follows the decision of the French Supreme Court, "Conseil Constitutionnel," dated October 21, that ruled public access to the trust register was unconstitutional on the ground that it created a disproportionate breach of privacy rights of individuals taking part in trust arrangements.

A Tax Alert prepared by Ernst & Young France, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-2172

Document ID: 2016-2172

 

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