Ausländische Stiftungen & Trusts: Der 75% Steuerschock für Deutsche!

Summary

Dieses Video skizziert die steuerlichen Risiken und Herausforderungen, die mit der Gründung von Stiftungen oder Treuhandgesellschaften in Nicht-EU- oder Nicht-EWR-Ländern verbunden sein können, insbesondere in Deutschland. Es warnt vor unerwarteten Schenksteuersätzen und erklärt, wie die Steuerklassenprivileg in Deutschland Schenksteuern reduzieren kann. Betont die Vorteile einer Stiftung in Liechtenstein und klärt, wie Steuern bei der Auflösung ausländischer Vermögenswerte in Deutschland zu verstehen sind. Der Fokus liegt auf der Vermeidung von Steuerfällen und der Planung von Vermögensnachlässen, mit einem besonderen Blick auf Steueroptimierung und Vermögensschutz für internationale Investoren und Unternehmer.

Takeaways

• 🌐 Die Gründung von Stiftungen oder Treuhandgegenständen in Nicht-EU- oder Nicht-EWR-Ländern kann zu fatalen steuerlichen Nebenwirkungen führen, insbesondere in Deutschland.
• 📢 Eine eigene Ankündigung: Das 'Renten im Ausland'-Seminar im September 2024 in London wird sich mit Themen wie Vermögensplanung, Stiftungen, Treuhandgegenständen und steuerlichen Aspekten auseinandersetzen.
• 🏘 Ein Beispiel: Ein Kunde kaufte eine Immobilie in Panama und folgte dem Rat eines lokalen Anwalts, die Immobilie in eine Stiftung zu übertragen, was in Deutschland zu einer 30%igen Schenkungsteuer führte.
• 🔄 Die Schenkung in eine ausländische Stiftung kann in Deutschland zu einer Schenkungsteuer führen, die nicht in demselben Umfang für eine deutsche Familienstiftung fällig ist, da hier das sogenannte Steuerklassenprivileg greift.
• 🎁 Beide, der Schenkende und der Empfänger, sind in Deutschland für die Schenkungsteuer verantwortlich. Wenn der Empfänger nicht in Deutschland besteuert wird, fällt die Steuerpflicht auf den Schenkenden zurück.
• 🇱🇮 Stiftungen in Liechtenstein sind oft das ideale Instrument für Kunden, die eine ausländische Stiftung außerhalb der EU gründen möchten, da sie von einigen der hier diskutierten Nachteile nicht betroffen sind.
• 💼 Die Verlust der Kontrolle über Vermögenswerte ist ein wichtiger Aspekt, der bei der Stiftung in Liechtenstein berücksichtigt werden sollte, da sie dann von einem Stiftungsbeirat in Liechtenstein verwaltet wird.
• 🇪🇺 Stiftungen und Treuhandgegenstände, die in einem EU- oder EWR-Staat ansässig sind, unterliegen nicht der zusätzlichen Besteuerung gemäß dem Außensteuergesetz.
• 📊 Die zusätzliche Besteuerung kann in Deutschland zu einer Belastung von bis zu 75% führen, wenn Einkommen aus ausländischen Familienstiftungen oder -treuhandgegenständen steuerpflichtig sind, selbst wenn sie nicht ausgezahlt werden.
• 📑 Gerichtliche Entscheidungen zeigen, dass die steuerliche Behandlung von ausländischen Stiftungen und Treuhandgegenständen in Deutschland oft ungunstige Konsequenzen nach sich zieht, insbesondere wenn es um die Attribuierung von Vermögenswerten und die Anwendung der Schenkungsteuer geht.
• 📝 Die Empfehlung ist, bei der Einrichtung ausländischer Stiftungen und Treuhandgegenständen äußerst vorsichtig zu sein, insbesondere wenn es um Vermögensplanung für deutsche Steuerpflichtige geht. Die Stiftung in Liechtenstein ist eine Ausnahme und kann empfohlen werden.

Q & A

Was ist das Hauptthema des Videos?

Das Hauptthema des Videos ist die Steuerplanung für Stiftungen und Treuhandstrukturen in Nicht-EU- oder Nicht-EWR-Ländern und die damit verbundenen Gefahren, insbesondere im Hinblick auf die steuerlichen Nebenwirkungen in Deutschland.

Welche Steuern können bei der Übertragung von Vermögenswerten an ausländische Stiftungen oder Treuhandstrukturen anfallen?

Bei der Übertragung von Vermögenswerten an ausländische Stiftungen oder Treuhandstrukturen können Schenkungssteuer, Erbschaftsteuer und bei Auflösung der Struktur auch Schenkungssteuer auf die aufgelösten Vermögenswerte anfallen.

Was ist der Unterschied zwischen einer deutschen Familienstiftung und einer ausländischen Stiftung hinsichtlich der Schenkungssteuer?

Eine deutsche Familienstiftung profitiert von der sogenannten steuerlichen Klassifikationsprivileg, was bedeutet, dass die Schenkungssteuer je nach Nutznießer der Stiftung bestimmt wird. Bei ausländischen Stiftungen kann die Schenkungssteuer in Deutschland bis zu 30% betragen, wenn Vermögenswerte dorthin übertragen werden.

Welche Rolle spielt die Liechtensteiner Stiftung in Bezug auf steuerliche Vorteile?

Die Liechtensteiner Stiftung ist eine Ausnahme von der zusätzlichen Besteuerung und profitiert von der EU-/EWR-Ausnahme gemäß § 15 Abs. 6 des Außensteuergesetzes. Sie unterliegt nicht der zusätzlichen Besteuerung, da Liechtenstein Teil des EWR ist.

Was ist das Konzept der 'zusätzlichen Besteuerung' und warum kann es zu hohen Steuerbelastungen führen?

Die zusätzliche Besteuerung verlangt, dass das Einkommen einer ausländischen Familienstiftung oder Treuhand, das nicht an die in Deutschland steuerpflichtigen Nutznießer verteilt wurde, diesen dennoch als Einkommensteuer schuldet, was zu einer doppelten Belastung führen kann, wenn später eine Verteilung erfolgt.

Welche möglichen Lösungen gibt es, um die Wartezeiten von fünf bis zehn Jahren zu verkürzen, die für die Vermeidung der deutschen Erbschaftsteuer gelten?

Es gibt legale Wege, um diese Wartezeiten zu verkürzen, aber detaillierte Informationen dazu werden in einer persönlichen Beratung erläutert.

Was sind die möglichen steuerlichen Nachteile, die mit der Einrichtung einer ausländischen Stiftung oder Treuhand in Verbindung stehen können?

Zusätzliche Besteuerung, Schenkungssteuer bei Vermögensübertragung und Auflösung, mögliche Erbschaftsteuerrechnung trotz Vermögensbindung in einer ausländischen Struktur und der Verlust der Vermögenskontrolle sind einige der möglichen steuerlichen Nachteile.

Welche Rolle spielt die 'Memorandum of Wishes' in Bezug auf Treuhandstrukturen?

Die 'Memorandum of Wishes' ist ein Dokument, in dem die Testatorin extensive Entscheidungsrechte und Eigentumsrechte über die Verwaltung und Verteilung der Treuhandvermögenswerte ausdrückt, was jedoch eine strikte Trennung von Vermögen und Testatorin verhindert und steuerliche Risiken birgt.

Welche Bedeutung hat der Austausch von Informationen zwischen Deutschland und dem Land, in dem die ausländische Stiftung oder Treuhand ansässig ist?

Ein ausreichender Austausch von Informationen ist entscheidend, um die zusätzliche Besteuerung zu vermeiden. Länder ohne ausreichenden Informationsaustausch mit Deutschland führen zu erhöhten steuerlichen Risiken.

Welche Empfehlungen gibt der Sprecher für Personen, die eine ausländische Stiftung oder Treuhand einrichten möchten?

Der Sprecher empfiehlt, Vorsicht zu walten und sich von qualifizierten Steuerberatern oder Anwälten beraten zu lassen. Er betont, dass die Liechtensteiner Stiftung eine gute Lösung sein kann, während andere Strukturen mit Vorsicht behandelt werden sollten.

Was sind die Vor- und Nachteile der Einrichtung einer Stiftung in Liechtenstein?

Der Vorteil liegt in der Ausnahme von der zusätzlichen Besteuerung und der steuerlichen Sicherheit durch den Verlust der Vermögenskontrolle. Der Nachteil ist der höhere Aufwand und die laufenden Kosten für die Einrichtung und Verwaltung der Stiftung.

Outlines

00:00

🌐 Steuerliche Risiken von Stiftungen und Treuhand in Nicht-EU-Ländern

Dieses Absatz beschäftigt sich mit den steuerlichen Nebenwirkungen, die mit der Gründung von Stiftungen oder Treuhandstrukturen in Ländern außerhalb der EU, wie den USA, Nevis oder Panama, verbunden sein können. Es wird auf ein bevorstehendes Seminar 'Retirement Abroad' in London im September 2024 hingewiesen, das sich mit Themen wie Vermögensplanung, steuerliche Aspekte bei Vermögensübertragungen und Vermeidung von Steuern auf Erbschaften und Schenkungen beschäftigen wird. Zudem wird ein Fallbeispiel einer Kunden vorgestellt, die eine Immobilie in Panama erworben und aufgrund fehlerhafter Beratung eine Stiftung gegründet hat, was zu einer unerwarteten Schenkungsteuer in Höhe von 30% in Deutschland führte.

05:05

📜 Schenkungssteuer und Steuerliche Verantwortlichkeit in Deutschland

Dieser Absatz erklärt, dass sowohl der Empfänger als auch der Spender der Schenkungsteuer in Deutschland verpflichtet sind. Falls die Empfängerin, wie eine Stiftung in Panama, in Deutschland nicht steuerpflichtig ist, fällt die Steuerpflicht auf den Spender zurück. Es wird auch auf die besonderen Regelungen für Stiftungen in Liechtenstein hingewiesen, die aufgrund ihrer EU-/EEA-Mitgliedschaft von einigen steuerlichen Nachteilen ausgenommen sind. Zudem werden die steuerlichen Auswirkungen von Stiftungen und Treuhand in anderen Ländern, einschließlich der Schweiz und Österreich, diskutiert.

10:06

🏢 Steuerliche Folgen bei der Übertragung und Auflösung ausländischer Stiftungen und Treuhand

In diesem Absatz werden die steuerlichen Prozesse erläutert, die bei der Übertragung von Vermögen auf oder während des Lebens an ausländische Stiftungen oder Treuhand sowie bei deren Auflösung relevant sind. Es wird auf die Schenkungssteuer, die bei der Übertragung von Vermögen an ausländische Strukturen fällig wird, und auf die sogenannte Zusatzsteuer eingegangen, die für die Einkommen aus ausländischen Stiftungen und Treuhand in Deutschland gilt, selbst wenn diese Einkommen nicht an die deutschen Empfänger verteilt werden.

15:09

🇪🇺 Steuerliche Auswirkungen für EU- und EEA-Stiftungen und -Treuhand

Dieser Absatz betont, dass Stiftungen und Treuhand in EU- oder EEA-Ländern, einschließlich Liechtenstein, von der Zusatzsteuer befreit sind. Es wird auch auf die Bedeutung der tatsächlichen Veräußerung von Vermögenswerten durch den Stifter und seine Angehörigen für die steuerliche Sicherheit hingewiesen. Des Weiteren werden Gerichtsentscheidungen diskutiert, die zeigen, wie die deutsche Gesetzgebung mit ausländischen Strukturen umgeht, die hierzulande nicht bekannt sind oder nicht zugänglich sind.

20:13

📊 Gerichtsentscheidungen und ihre Auswirkungen auf ausländische Stiftungen und Treuhand

In diesem Absatz werden drei konkrete Gerichtsentscheidungen vorgestellt, die die steuerlichen Folgen von ausländischen Stiftungen und Treuhand für deutsche Steuerpflichtige verdeutlichen. Es wird gezeigt, wie die deutsche Finanzbehörde in diesen Fällen die Vermögenswerte, die in ausländische Strukturen übertragen wurden, weiterhin dem Vermögen des Stifters zuzurechnen und damit Erbschaftsteuer fällig machen wollte. Zudem wird dargestellt, wie die Rückkehr in Deutschland zu zusätzlichen steuerlichen Verpflichtungen führen kann.

25:16

📘 Empfehlungen und Beratung für ausländische Stiftungen und Treuhand

Schließlich werden Empfehlungen für Personen gegeben, die an der Gründung einer ausländischen Stiftung oder Treuhand interessiert sind. Es wird betont, dass die meisten ausländischen Strukturen für deutsche Steuerpflichtige problematisch sein können, mit Ausnahme der Stiftung in Liechtenstein. Es wird auf die Wichtigkeit von qualifizierter Beratung durch Steuerberater oder Anwälte hingewiesen und ein Angebot zur individuellen Beratung und Unterstützung bei der Vermögensplanung und Vermögenssicherung gemacht.

Keywords

💡Stiftungen

Stiftungen sind rechtlich anerkannte Einrichtungen, die dazu dienen, Vermögenswerte für einen bestimmten Zweck zu verwalten. Im Video werden Stiftungen in Nicht-EU- oder Nicht-EAA-Ländern, wie in den USA, Nevis oder Panama, diskutiert, die von Personen gegründet wurden, ohne die steuerlichen Nebenwirkungen vollständig zu verstehen.

💡Trusts

Trusts sind eine Art Vermögensverwaltung, bei der ein Treuhänder (Trustee) das Vermögen im Namen und im Interesse eines oder mehrerer受益人 verwaltet. Im Video werden Trusts als mögliche Strukturen für Vermögensübertragungen diskutiert, die jedoch steuerliche Risiken bergen können.

💡Schenkungsteuer

Schenkungsteuer ist eine Steuer, die für den Vermögensübergang im Leben oder bei Tod von einer Person zu einer anderen fällig wird. Im Video wird betont, dass die Übertragung von Vermögenswerten an ausländische Stiftungen oder Trusts in Deutschland 30% Schenkungsteuer auslöst.

💡Steuerklassenprivileg

Das Steuerklassenprivileg ist eine Regelung in Deutschland, die bestimmte Begünstigungen für die Übertragung von Vermögenswerten innerhalb einer Familie vorsieht. Im Video wird erläutert, wie dieses Privileg die Schenkungsteuer für die Übertragung an eine deutsche Familienstiftung verringern könnte.

💡Erbschaftsteuer

Erbschaftsteuer ist eine Steuer, die fällig wird, wenn Vermögenswerte nach dem Tod einer Person vererbt werden. Im Video wird erwähnt, dass auch ausländische Stiftungen oder Trusts, die Vermögenswerte enthalten, in Deutschland Erbschaftsteuer unterliegen können.

💡Zinsen

Zinsen sind im Kontext des Videos Einnahmen, die aus investierten Vermögenswerten resultieren. Sie können bei ausländischen Stiftungen oder Trusts, die in Deutschland besteuert werden, zu einer zusätzlichen Steuerlast führen, wie im Video dargestellt.

💡Zusätzliche Besteuerung

Zusätzliche Besteuerung bezieht sich im Video auf eine Steuerpflicht, die für ausländische Familienstiftungen und Trusts gilt, deren Einkommen den deutschen Steuerpflichtigen zugerechnet wird, selbst wenn es nicht ausgezahlt wird. Dies kann zu einer hohen Steuerbelastung führen.

💡EU- und EEA-Ausnahme

Die EU- und EEA-Ausnahme ist eine Regelung, die ausländischen Stiftungen und Trusts, die in EU- oder EEA-Ländern ansässig sind, von der zusätzlichen Besteuerung befreit. Im Video wird betont, dass Stiftungen in Liechtenstein von dieser Ausnahme profitieren können.

💡Austrittssteuer

Austrittssteuer ist eine Steuer, die in Österreich fällig wird, wenn Vermögenswerte in einen ausländischen Trust oder eine ausländische Stiftung übertragen werden. Im Video wird erläutert, dass diese Steuer auch für unrealisierte Kapitalgewinne fällig ist.

💡Steuerplanung

Steuerplanung ist der Prozess, bei dem Finanzen so organisiert werden, um die Steuerlast zu minimieren, während die Gesetze eingehalten werden. Im Video wird betont, wie wichtig es ist, sich von qualifizierten Steuerberatern oder Anwälten beraten zu lassen, um die Risiken bei der Einrichtung von ausländischen Stiftungen oder Trusts zu vermeiden.

💡Vermögensschutz

Vermögensschutz bezieht sich auf Maßnahmen, die ergriffen werden, um Vermögenswerte vor Verlust oder Schädigung zu schützen. Im Video wird diskutiert, wie ausländische Stiftungen und Trusts ein Mittel zum Vermögensschutz sein können, jedoch mit steuerlichen Risiken verbunden sein können.

Highlights

Clients often establish foundations or trusts outside the EU or EEA without being aware of the tax implications, especially in Germany.

The 'Retirement Abroad' seminar in London will discuss estate planning, including the use of foundations and trusts.

German inheritance tax and gift tax can often be avoided without long waiting periods through strategic planning.

Transferring assets to foreign foundations or trusts can trigger significant German gift tax liabilities.

The tax class privilege in Germany allows for exemptions when transferring assets to a German family foundation.

Liechtenstein foundations are often ideal for clients looking to establish a foundation outside the EU due to their position in the EEA.

Loss of control over assets is a key feature of the Liechtenstein foundation, providing legal security.

Austrian and Swiss taxpayers face different tax implications when transferring assets abroad due to their country's tax laws.

German residents are subject to unlimited inheritance and gift tax for at least five years even if they move abroad.

Inheritance or gift tax is due when assets are transferred to foreign foundations or trusts, and also on distributions to German beneficiaries.

Additional taxation under Section 15 of the Foreign Tax Act can lead to tax rates of up to 75% for foreign trusts and foundations.

EU and EEA foundations are exempt from additional taxation, unlike those in other jurisdictions.

Court rulings have shown that foreign trusts and foundations can still be considered part of an individual's estate for tax purposes.

Transfers to foreign trusts can result in high gift tax liabilities, even if the assets are managed abroad.

The dissolution of foreign trusts and their distributions can also trigger gift tax in Germany.

Clients are advised to seek expert advice when considering foreign foundations or trusts to avoid negative tax consequences.

Liechtenstein foundations are recommended due to their legal security and information exchange with Germany, despite higher costs.

The speaker's law firm offers consultations and support for clients looking to legally reduce their tax burden and protect their wealth.

Transcripts

We repeatedly speak to clients who have founded foundations or trusts in non-EU or non-EEA countries

, for example in the USA, in Nevis, in Panama or wherever, and who

are aware of the fatal tax side effects We were not aware of the whole thing, especially

in Germany. Find out more about what this is all about in this video.

[Music]

Another small announcement on our own behalf:

Our “Retirement Abroad” seminar will take place in London at the end of September 2024. It will be about exactly questions like the ones

we are now discussing in this video. How can I plan my estate? Which

structures are appropriate here? Foundations, trusts? In which countries? What should I take into account for tax purposes

if I transfer assets to these structures? If this is a topic that interests you,

particularly as it relates to your own estate planning, then I would be happy

to meet you there. We will of course discuss all sorts of interesting topics there,

not only foundations and trusts, but also topics such as how you can avoid German

inheritance tax or gift tax without having to wait five to ten years,

where can you buy and store gold, how can you to protect yourself from EU measures such as

a possible EU wealth tax, a possible EU asset register, a possible

equalization of burdens, how can I collect pensions in a tax-efficient manner,

which double taxation agreements can I use here? These are all topics

that are at stake and of course also questions of tax optimization, such as how can I

live abroad and, for example, avoid taxes on capital gains, crypto, etc.

in order to continue to build up wealth abroad? If you are also thinking about your retirement

and are concerned with such things here, I would be happy

to meet you in London. You can find all further information here in the link in the first comment

to this video. As always with our events, your spouse, life partner or

business partner can come along free of charge. I would be happy to see you in London.

I recently spoke to a client who had bought an apartment in Panama for

around 500,000 euros and then the local Panamanian lawyer advised her to set up

a foundation and put this apartment into the foundation, then it would be

easier for your descendants. If you die, then there will be no

change of ownership in Panama, which could cause all sorts of problems there, according to the lawyer,

with notaries, the land register, etc. pp. The client did that, founded this foundation,

has transferred the newly purchased property there and did not realize that at that

moment it triggered 30 percent gift tax in Germany. This is how much gift tax is

due in Germany when assets

are transferred to a foreign foundation, a foreign trust or a similar asset management structure. The

gift tax is not necessarily due or not due in the same amount if I

transfer assets to a German family foundation, because there is the so-called tax class privilege,

which means that it is basically checked who is the beneficiary of the foundation. In this

case, the client who set up the foundation in Panama was her son. With a German

foundation, you could have set the exemption amount that you have available

when you give to your children, 400,000 euros every ten years, and would thus have been

able to significantly reduce the gift tax burden. By the way , it seems as if this regulation will

soon be transferred to EU and EEA foundations here, and then it would also

apply to the foundation in Liechtenstein, for example. So, of course, this was a

slap in the face for the client, 30 percent gift tax, more than 150,000 euros, just because

she followed the advice of this local Panama lawyer and set up a foundation

in order to then transfer the assets to the foundation transmitted. Now we're trying to

somehow undo the whole thing. We'll see what comes out of it in the end.

This is a good example of how many people, without knowing anything, end up

slipping into a situation where they set up such structures. Of course with the best intentions,

because you want to protect your assets, you are worried about what is happening in the EU,

you would like to stay outside the EU and of course there is such a foundation in Panama,

in Nevis, in the USA , wherever, there are trusts, a welcome solution to a

seemingly complicated problem and you are always led to believe that you can

then save some taxes in Germany, which is definitely not the case,

but more on that in a moment . By the way, an interesting thing about gift tax, which many people don't know:

Both the recipient and the donor are

liable for gift tax in Germany. If the recipient is not subject to tax in Germany, as in the case of the Panamanian

foundation, the Panamanian foundation is not subject to tax in Germany, then

the gift tax liability falls back on the donor, which means that he or she

then has to pay the gift tax. So that means that the client who

founded this foundation is in Panama and the property that she transferred to this foundation is

fully committed here. Unfortunately, that's not the only problem, the gift tax

that you face when you transfer assets to a foundation or a trust,

there are also a number of other disadvantages that we'll talk about in a moment.

I would like to say in advance that much of what we will discuss here today

does not apply to the foundation in Liechtenstein. Although Liechtenstein is not part of the EU, it is part of the EEA,

the European Economic Area, like Norway, for example, which means that some of the

disadvantages that we are talking about today do not have to be feared with a foundation in Liechtenstein. The foundation in Liechtenstein is

often the ideal vehicle for clients who

want to set up a foundation abroad, in non-EU countries. The disadvantage of Liechtenstein, of course, is that you

lose control over the assets here. It is then the foundation advisory board in Liechtenstein,

the lawyer there, the tax advisor who ultimately

has control over the assets here. As a founder you still have certain influence, but an important aspect,

and that's why the whole thing also works in Germany, is the de facto loss of control

and the fact that Liechtenstein is in the EEA, which helps to avoid some disadvantages here

, But gift tax is also definitely

a problem for the foundation in Liechtenstein. By the way, the exemption amount for this gift tax class 3, which is the issue here,

is only 20,000 euros every ten years. That may now change. There

are of course other possible solutions that are often rumored here, which I

don't necessarily want to go into today, for example giving loans to the foundation

that then have a term of 100 years. This actually requires a real expert who is

familiar with it; these are highly complex processes, but in principle

I am explicitly not referring to the foundation in Liechtenstein today when I

talk about foreign foundations and trusts. A solution can usually be found in Liechtenstein, or things

that we are about to discuss here are not a problem in Liechtenstein from the start.

By the way, Swiss and Austrian viewers and listeners are not so

affected by the points raised here. As is well known, there is no gift tax in Austria.

In Austria, too, it is a problem when capital assets are given away abroad, because

then the exit tax is due, even if not the gift tax. And in Austria

I don't have to hold a stake of at least one percent in the corporation

like in Germany, even if I now have, for example, a few Google shares or

a few Tesla shares and I would give them away to a foundation abroad,

exit tax would be due in Austria on the unrealized capital gains. That is

to be noted. If I give money to the foundation, then of course no exit tax would be due, but

for capital assets there would be. In Switzerland itself there is no gift tax or

inheritance tax at the federal level, but most cantons also have a gift tax,

an inheritance tax, some with very low rates, some with very high rates,

40 percent and so on Western Switzerland. Here too, precise planning is necessary

so that you, as a Swiss citizen or taxpayer in Switzerland

, do not fall into a tax trap if you transfer assets to a foreign foundation or trust.

Now you might say, well, Sebastian, I'm away from Germany anyway

and my foundation is also abroad, what do I know, in Panama, in Nevis or Trust

in the USA or something like that, then that's it It really doesn't matter at all, then I can give away

whatever I want to the foundation, and then no tax will be due in Germany. Unfortunately

, this is wrong, because if you move away from Germany, you will be subject

to unlimited inheritance and gift tax for at least five years. So an example,

let's take the example of the client I just spoke about. The client leaves Germany,

the client buys an apartment in Panama, six months after leaving Germany and

then transfers this apartment to the foundation in Panama, then the full German

gift tax is due here, in Panama even for ten years. The same applies, of course, if

you inherit or pass on something and are abroad for less than five years or less than ten

years in low-tax countries, inheritance tax is also due in Germany and

as I said, the recipient and the donor are both liable for it the gift tax.

But now our question is, what are essentially tax-relevant processes when

it comes to foundations or trusts? So, first of all, the topic we just discussed

. Inheritance or gift tax, if assets are transferred on death or during lifetime to

an asset under foreign law whose purpose is to tie up assets,

a foundation or trust abroad is designated in German tax law.

Or donations of such assets under foreign law to intermediate beneficiaries

during the existence of the assets are subject to gift tax. This is

about distributions from the foundation or trust to beneficiaries in Germany.

And the third case when taxes can be due here in Germany for foreign

foundations and trusts is gift tax on donations that

are paid out when such a foreign asset is dissolved. So if the trust, if the foundation

is dissolved and assets are distributed here, tax will also be due in Germany.

One of the most important reasons, and this is actually the most important advantage

of the foundation in Liechtenstein, is the so-called additional taxation.

This could lead to 75 percent in taxes. Regardless of

distributions actually received, the beneficiaries of foreign

family foundations and trusts who are subject to tax in Germany

must comply with the so-called additional taxation in accordance with Section 15 of the Foreign Tax Act. It means that the trust's income is subject to income tax on domestic

beneficiaries under certain conditions, even if it

is not distributed to them. So, here we had a good example. We had a

client, a German, her mother had moved to the USA, got married there, and then

left a trust to the children who were in Germany, which contained American assets

, investments and so on and so forth. But the trust had some strict regulations here,

so the children only had access to this money when they were 30, then to a little more when they

were 40, so it was controlled in such a way that the money was gradually passed on to the children is distributed

, but not all at once. So that means during the year or in the meantime

So the trust generated a lot of capital gains here, which then stayed in the trust and the

children haven't seen a cent of it, at least not yet. However, they ultimately had to

pay income tax on the income from this trust that they did not receive and

that applies to all of these structures. Not only for this American trust from my example,

this applies to a Nevis trust, this applies to a Panama foundation, but it does not apply to

the Liechtenstein foundation, which we will come to again in a moment, or also the Jersey, Guernsey foundation

and trust, everything that might be out there, it all applies to them. This means that

the income that this trust generates, regardless of where it comes from, must then

be taxed in Germany with additional income tax. And now comes the kicker.

If the beneficiaries actually receive a distribution, then gift tax will be

due again on the distribution. This is how the 75 percent tax comes about. That's a blatant

injustice, you might say, and it actually is, but I can tell you

that the German legislature doesn't give a damn. The jurisprudence of the German courts has

recently seen no problem in such double taxation. For example

, the Münster Finance Court decided that the legislature

consciously accepted the double burden of gift and income tax. So the legislature says, if you

use any structure like this abroad that we don't really have access to here,

that we don't really understand, then you have to pay up to 75 percent taxes, bad luck,

then don't use such a structure. And double taxation is also constitutionally

harmless, since double taxation is unavoidable in a high-taxation system. However, a final decision from the Federal Constitutional Court is

still pending.

Now here comes a very important point, I already mentioned it earlier.

The foundation in Liechtenstein is not affected by this. An important exception

to the additional taxation and its detrimental effects is

the EU, EEA area exception according to Section 15 Paragraph 6 of the Foreign Tax Act. So EU foundations,

EEA foundations, including, for example, a foundation in Malta,

very interesting foundation law there by the way. Family foundations and trusts

based in an EU or EEA state are not subject to additional taxation.

Now comes the other important point when the settlor and the relatives

no longer legally or actually have any power of disposal over the transferred assets.

That's what I said about Liechtenstein, it bothers many clients that in the end

you actually lose control of your assets, but that's exactly an important feature

of this foundation in Liechtenstein, because it makes it legally secure. And the second important

reason why Liechtenstein works: there is

sufficient exchange of information between the country in question and Germany. That's exactly the problem with countries like the USA,

Nevis, Panama and what else there is, Jersey, Guernsey and so on and so forth,

they all have no exchange of information with Germany, no aid agreements

regarding tax matters and so on This then leads to this horrendous additional taxation. And

I have to say again what I said before. Let's assume you're abroad, you

left Germany two or three years ago, you live in an extremely low-tax country,

maybe Dubai, you don't pay any income taxes there and you have

set up such a trust or foundation abroad and then you come here such capital income in the

trust, in the foundation together, then due to the extended limited

tax liability in Germany, exactly the same tax consequences that I just mentioned apply to you

. That means that in Germany you have to pay for another ten years on the income that

this trust, that this foundation generates here, without you even seeing anything about it.

Finally, I would like to briefly summarize three relevant court rulings,

to show you what happens here in real life, from life for life, so to speak.

In the decision, a testator resident in Germany had

transferred assets to a Guernsey trust before her death. So what I'm saying here now applies to trusts,

applies to foundations abroad and so on. In my examples here we always talk about trusts

because there are relevant judgments, at least those that

are particularly easy to present here. The trust was managed from Guernsey by a trust manager based there

, so there was someone there who was obviously responsible there too.

In addition to the testator, the beneficiaries of the trust were her children.

In a memorandum of wishes, which is what I call a memorial, the testator

was granted extensive say and property rights, including the ability to decide when and in what

amount distributions should be made to her. Furthermore, with the testator's consent, the testator's children were able to

give instructions to the trust manager regarding the management of the assets.

After the testator's death, the responsible tax office was of the opinion that the

assets transferred to the trust were still attributable to the testator, that is, part of the estate. So,

that means the testator actually wanted to save the inheritance tax here, but now the

tax office says, no, you can't do that, here at your death, we'll attribute these assets to

you yourself. This means inheritance tax will be due even though your assets

may be stuck here in this trust. The reason for this is that of course

there was this right to have a say here, that is, here the relatives and the heiress herself could have a say in

what should happen to it. So there was not this

strict separation, as explained earlier using the Liechtenstein example, between what the founder or the beneficiaries

can actually do here, i.e. nothing, they are actually separated from the assets, they

cannot decide about it. The trust was not recognized as a protective asset,

which is why the tax office assessed inheritance tax on this asset for the heirs.

My next example, also from the Federal Finance Court. The US resident husband

had established several trusts under US law, each of which was his wife as the beneficiary.

The trusts were irrevocable. The wife had no influence on the

trust's investment decisions. The husband died as a result. The trust instrument provided that from that

point onwards the net income of the trust was to be paid to the wife

or used for the benefit of the wife in quarterly installments . So here's the huge mistake this woman

made, she was German. After the husband's death, the wife moved back to Germany

and subsequently received distributions from the trust. So if you have such a structure and

you live abroad, thinking about moving to Germany is usually a bad idea. Get

100% advice and don't just do it, the consequences can be catastrophic.

The tax office treated the distributions as gifts subject to gift tax

because the wife is a so-called intermediate beneficiary. In addition, the income generated by the trust was

added to the wife's own income as part of the additional taxation

. So, now we have the situation here with the 75 percent taxes.

First of all, the woman has to rely on the income from the trust, which she doesn't get, she

only gets installments every quarter, so she has to pay this with income tax and

in addition, gift tax is also due from this trust and that

might be equal to 30 here Percent. So that means she has to pay 75 percent taxes here

just because of the fact that she moved back to Germany.

Third example. A British citizen resident in Germany was the beneficiary

of a trust. The trust's assets include shares in British limited companies and

cash. The trust was managed by a trustee based in Switzerland. The Trustees

decided in 2006 to dissolve and wind up the trust and distribute the

assets to the beneficiaries. The assets of the trust were distributed to the beneficiary three years later in 2009

. The tax office made this distribution subject to gift tax at the beneficiary level in

2006. The problem is, gift tax sounds harmless now, but

in this specific case, gift tax is due according to gift tax class 3,

that is, 30 percent and the minimum exemption amount is 20,000 euros. That means,

for example, if this trust has assets of 900,000 euros,

then almost 300,000 euros in taxes will be due. Normally, if one

were to take into account that there may be gift tax exemptions here and that

the actual gift tax is sometimes only 9 or 15 percent, then in this

case the gift tax for this trust is perhaps twice or three times as high like what

one would actually have had to pay if this trust had not existed.

So much for my three examples from this trust taxation. As I said,

this also applies to foundations; it doesn't matter what legal form this is.

As I said, in Germany we speak of foreign assets.

So, I've almost reached the end. Here's my tip again:

Be extremely careful when it comes to

setting up such foreign foundations and trusts here for beneficiaries in Germany or even if you yourself

are subject to the extended limited tax liability or inheritance tax liability or

gift tax liability in Germany . Most of the time it backfires and

can have extremely negative consequences for you. An exception here, as I said, is the foundation

in Liechtenstein. This is something you can definitely recommend. The disadvantage here, of course, is

that the costs for this foundation are relatively high, not only the one-off costs

for setting it up, but of course also the ongoing costs. This means that in many cases

the foundation will make no sense when it comes to managing assets here, which

are not exactly in the high millions, unfortunately it has to be said very clearly. So the only thing that really helps here

is to get away from Germany and restructure the assets so that

there are no longer any German assets. Of course, it helps best if the heirs

aren't even big in Germany, but you won't always be able to avoid that, or the recipients either,

and then you have to go to a country where the conditions are more

favorable may have to wait a few years, although there are

clearly ways in which this waiting time can be shortened. There are completely legal ways that you

can't wait these five to ten years. I can explain to you in the consultation

how this works. But very important, a very important note to you, get advice

from a qualified tax advisor or lawyer. Basically, the

Liechtenstein Foundation is a good solution; I would treat everything else with the utmost caution.

If these are topics that interest you too, asset protection, estate planning,

how you can keep your assets safe from the state, then I would be happy

to have a consultation with you. I'll include the link here in the description of this video

. We have been supporting clients for almost 20 years in moving abroad,

positioning themselves in a tax-optimised manner, protecting their assets and building new assets. We have a

large network of tax advisors, lawyers and experts for such foundations at home and abroad

who will be happy to accompany you with your project abroad under our coordination. I

would be pleased to be able to count you as one of our clients soon.

Are you an entrepreneur, freelancer or investor? Have you been moving

abroad for a long time? Take the first concrete step today towards a future with more money and more freedom.

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