A LUXEMBOURG SPF HOLDING (PRIVATE WEALTH MANAGEMENT COMPANY) IS EXEMPT FROM ALL TAXES (WITH THE EXCEPTION OF A SUBSCRIPTION TAX AT 0.25%)
One of the conditions that a SPF company must satisfy to benefit from this unique tax system is to limit its business activities to the acquisition, holding, management and execution of financial assets (excluding all commercial activities).
Financial assets are defined as :
a) all transferrable securities and other securities including shares and other securities which can be converted into shares, participations in companies and collective investment institutions, bonds and other debts, certificates of deposit, medium term certificates and bills of exchange;
b) securities including the right to acquire shares, bonds or other securities through subscription, purchase or exchange;
c) options and securities leading to a cash settlement (excluding instruments of payment), and including money market instruments;
d) all the other securities representing rights of ownership, debts or transferrable securities;
e) all instruments related to underlying financial instruments, indexes, raw materials, precious materials, foodstuffs, metals or merchandise, other goods or risks;
f) the debts related to different elements listed in sub a) to e) or the rights to or related to these different elements.
It is not necessary to know if these financial instruments are represented or not, transferrable by book entry or traditional methods, bearer or registered, transferrable or non-transferrable and the rights which apply to them.
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