Article on Trust Regulation in Romania

Alexandra Safta (Independent) and Mirela Violeta Buliga (Doctor, Universitatea de Vest Timisoara) have recently published an article entitled, Considerations on the Legal and Tax Regime of the Trust, 4 Romanian Private L. Rev. (2012). Provided below is the abstract from SSRN:

The regulation of the trust was placed from the very beginning under the sign of the legislator’s concern of not creating an instrument which could be used for tax evasion or money laundering purposes. This concern is described in the explanatory memorandum of the new Civil Code, but also in its contents, by enacting a series of interdictions and a formalist regime. The heterogeneous nature of the grounds laying at the basis of the instauration of the present regime determined us to attempt an analysis both from the civil side and from the tax side of the trust institution.