Switzerland: Trusts

For several years, Switzerland has operated under sustained international scrutiny regarding the transparency of legal entities and the identification of their ultimate controlling persons.

Switzerland continues to attract internationally mobile professionals, entrepreneurs, and investors, drawn by its political stability, strong legal framework, and favourable tax environment.

For decades, Trusts have occupied a peripheral position within the Greek legal order.

Switzerland has long been known for its expertise in international wealth management sector, its commitment to professional confidentiality and commercial competence, and its economic, political and legal stability, providing a solid foundation for families wishing to establish a Trust and a Family Office.

In a press release dated 8 November 2023, the Legal Affairs Committee of the Council of States announced that it was in favour of writing off the motion to create a Swiss trust.

The consultation on the introduction of a Swiss trust showed that there was currently no majority support for the introduction of such a legal institution.

In the past, attempts made to codify the Trust under Swiss law have not been crowned with success.

That may be significant for Trustees as Lenders where a Settlor of an art trust intended the artworks for public display.

SWITZERLAND'S POPULARITY as a hub for trust administration and related services has increased continuously in the past few years, and so has the number of litigation matters involving trust structures.