The term “fiduciary” comes from the Latin fiducia, which means trust. Nowadays, the word is employed in most areas of the commercial and civil laws of any country. In France, in general terms, a fiduciary is a person in charge with the management of assets. A fiduciary can also be seen as a representative with the main duty of acting in the best interest of a person, a group of persons, or even of a company. In France, fiduciary services are common among wealthy individuals, but mostly among companies.
Fiduciary services are regulated by various articles of the French legislation. The Inheritance Law provides for legal representatives entrusted with fiduciary services on behalf of a deceased person regarding the administration of an estate. These type of services are also employed in the wealth management industry, where an individual is required to request the services of specialized personnel or companies in order to administer their estate. These services can very well be provided by lawyers in France. Also, fiduciary services are also common in the administration of trusts in France.
Apart from individuals, the fiduciary services, but most of duties, are most employed by French companies. The best example is the director of a company, whose main duty is to fulfill their fiduciary duties towards the shareholders, company and third parties. Shareholders also have fiduciary duties towards their employees. The same principle of trust also applies to the French law firm working for a company.
Foreign investors seeking to open companies here should know that they can benefit from legal assistance, which also includes fiduciary services, provided by our French attorneys. Among these are:
One can also grant power of attorney to our lawyer who will be able to carry out the company incorporation and tax registration procedures in France.
For complete information on all the fiduciary services available for foreign citizens and investors, please feel free to contact our lawyers in France.
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