Bill No. 4,758 / 20, which has been in deliberation in the Chamber of Deputies since October last year, deals with the trust relationship and aims to regulate trusts in the country. This structure, so far, exists only abroad and, despite not being supported by law, it is widely used by Brazilians who have a high income.
A trust is a legal concept used in an international context as a contractual instrument that allows an organization to plan for their successors, formalized through a “Trust Deed”, wherein the founder ( “Settlor”) transfers all or a part of the ownership of their assets to a third party (“Trustee”), so it can be administered in a relationship of trust, benefiting third parties.
The proposal aims to bring a structure very similar to that which exists in the international scenario to Brazil. If it is approved, it will create new business in the country and will provide more security for Brazilians who have a Trust abroad.
The Bill had its first activity on March 10th and on April 6th, the deadline for proposing amendments ended, without any being presented.