What is Fiducia?

Fiduciais the legal operation, having its source in law or contract, whereby one or more constituents transfer real rights, debt rights, guarantees or other property rights, or a set of such rights, present or future, to one or more trustees who exercise them for a definite purpose for the benefit of one or more beneficiaries. These rights form an autonomous patrimonial mass distinct from the other rights and obligations in the assets of the trustees.

The fiduciary contract will have three parts: the constituent; the fiduciary (credit institutions, investment firms, lawyers, notaries, etc.); respectively the beneficiary, who may be either a third person or the constituent.

It should also be noted in connection with the fiduciary contract that the fiduciary will be able to exercise the transferred rights only in accordance with the purpose set by the constituent and for a fixed term which cannot exceed 33 years and when the contract ends the fiduciary property shall be transferred to the beneficiary or, failing that, to the constituent.

Benefits

  • Access to the latest information and professional standards on the fiduciary mechanism;
  • The existence of an interaction environment with professionals in the field;
  • Access to relevant experience of Association members;
  • Your representation by a professional body
  • Promote your problems and interests in front of public authorities
  • Substantial (or fee-free) fees to CFA events, special prices for events organized by third parties and other special offers (insurance providers, educational centers, etc.)
  • Participation in the Association’s committees, offering the possibility of communicating with the institutions present in the field, as well as the possibility of exchanging opinions and ideas on current developments and topics of the industry
  • Participation in seminars and training courses on issues related to the fiduciary sector
  • The possibility of publishing your ideas and articles through the news bulletins of the Association

News and Articles

Mission & Purpose

The Romanian Trustees Association was founded with the following main purposes:
Joining and co-operating with similar bodies in states where the fiduciary mechanism/trust has a longer history
Making the general public aware of the benefits of using the fiduciary mechanism
Creating a professional standard in the field
Improving fiduciary practices

FAQ

What is the role of the Romanian Trustees Association?

Creating standards in terms of the work carried out by the collectivity of fiduciaries in Romania

Association to similar international bodies

Adopt codes of good practice

Organization of training courses, seminars

Ce este un contract de fiducie si ce presupune acesta?

Fiducia is the legal operation by which one or more constituents transfer real rights, claims, guarantees or other property rights, or a set of such, present or future rights, to one or more trustees that exercise them for a specified purpose, in the benefit of one or more beneficiaries.

Fiducia is created by contract concluded in authentic form by the constituent and the fiduciary, or by law.

The fiduciary becomes the owner of the property, respectively the owner of the rights that are transferred to him by the constituent. However, these rights can be exercised only in accordance with the purpose set by the constituent and for a specified duration, which may not exceed 33 years.

How do I become a member of the Association?

In order to become members of the Association the natural or legal persons, in the country or abroad, must support the Association morally and / or materially.

In consideration of becoming an associated member, a written request is required and the General Assembly will be empowered to rule on the admission of new members.

Associate membership may also be acquired on request by natural or legal persons acting as trustees in accordance with applicable law or who wish to acquire the skills to do so.

Accepting membership implies adhering to the provisions of the Statute of the Romanian Fiduciary Association.

What contributions/fees do I have to pay as a member?

The members have the obligation to pay in due time the annual subscription for this quality, and, if they require the provision of services, the tariffs set for them.

The amount of the annual membership fee and the service charges are set by the decision of the Board of Directors. The annual associate membership fee is paid in full at the time of issuance of the associated membership card

The amount of the annual subscription of permanent members and senior members shall be established by the General Assembly upon proposal of the Board of Directors and shall be paid in full during the first quarter of each year until the date fixed by the decision of the Board of Directors with the exception of the first subscription, the issuance of the permanent or senior member’s card.

„Fiducia reprezinta un instrument juridic inovator cu caracter de noutate in peisajul romanesc care va fi utilizat in anii urmatori din ce in ce mai frecvent pe masura ce avantajele acesteia vor fi cunoscute.”

Av. Dr. Daniel MOREANU

Contact