A trust under French law (called in French « fiducie ») is defined as a contract by which a person, the settlor, transfers all or part of the property or rights that he or she owns to another person, the trustee, on condition that the latter acts for a specific purpose for the benefit of one or more beneficiaries.
A distinction is made between a security trust, which secures a debt, and a management trust, the purpose of which is to manage one or more assets in the interest of a beneficiary.
The status of fiduciary is reserved for lawyers, credit institutions, investment firms, management companies and insurance companies.
GVD Fiduciaires is registered with the Paris Bar as a fiduciary lawyer.