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The EU Unshell Proposal - possible impact on family governance structures
The International Family Offices Journal
Vol. 6 - Iss. 4 pp. 5–12
Jun 2022
In "The EU Unshell Proposal: possible impact on family governance structures", Constantijn Verhaeren and Rick van der Velden, of the law firm Loyens & Loeff, provide timely comments on a very important proposal for an EU directive meant to prevent tax avoidance and evasion through the use of EU resident entities without adequate substance (the Unshell Proposal). To this purpose, the Unshell Proposal provides for reporting obligations and exchange of information. The Unshell Proposal is expected to enter into force from 1 January 2024. The authors set out examples of the material impact of the Unshell Proposal on family structures. It is therefore recommended that families and family offices start assessing the impact of the Unshell Proposal in relation to their structures and take appropriate action well ahead of its entry into force.