We can refer to three different financial company types: the société de gestion de patrimoine familial (private asset management company), the SOPARFI and the European Company.

 

The Private Asset Management Company (the "SPF")

 

The société de gestion de patrimoine (Private Asset Management Company) (the "SPF") was conceived as an investment company solely for individuals acting in the context of managing their personal assets.

The Act of 11 May 2007 was introduced to provide private investors with a company structure for managing all or part of their tangible assets.

An essential tool for individuals in wealth, matrimonial and inheritance planning, the SPF is not bound to the principle of distribution of risks which is imposed upon an undertaking for collective investment ("UCI").

 

A. The four conditions which must be fulfilled in order to create an SPF are as follows:

 

1. The legal form of one of the following company types must be adopted:

Société Anonyme (public limited company),
Société à responsabilité limitée (private limited company),
Société en commandite par actions (partnership limited by shares) or
Société coopérative (co-operative) organized under the form of a Société Anonyme (S.A.)

 

2. Activity is strictly limited to the acquisition, holding, management and/or creation of financial assets excluding any commercial activity.

 

3. The shares must be reserved to a limited number of investors.

In the meaning of the act, an investor is any of the following persons:

A) an individual (excluding any company or business) resident or non-resident acting in the context of the management of their private assets
B) an asset management entity acting exclusively in the interest of the private assets of one or more individuals, resident or non-resident
C) an intermediary (holding the shares of the SPF as a trustee) acting on behalf of the investors defined under (a) or (b)

Each investor must declare in writing such capacity for the attention of the domiciliation agent or, where there is no domiciliation agent, the managers of the SPF.

 

4. The company must provide in its articles of association that it submits to the provisions of the Act of 11 May 2007 on the creation of a société de gestion de patrimoine familiale.

 

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