Comparisons

Family Asset Structures in Civil-Law Europe: Certification Done the Dutch Way (STAK)

Updated: 18 August 2026 By Robert Jeffrey, Holdwise Asset structures STAK Civil law

Families from common-law countries often ask for an Anglo-American family fund. In continental Europe, where legal systems are based on written codes (civil law), the certification foundation (STAK) works better. The two work differently, and each has its own uses. Reviewed 18 August 2026. At Holdwise, we keep this answer up to date and change it when the rules change.

Problems with common-law funds in civil-law countries

In a common-law family fund, a fiduciary, the person who manages the assets for others, has the legal ownership while the beneficiaries have the economic ownership. Civil-law countries handle that split through registers, tax fictions and recognition case by case. As a result, banks ask many questions, tax offices treat the fund in different ways and some paperwork always stays open. The wish to keep control in one place and the value in another is legitimate, but the fund itself works poorly in civil-law countries.

Certification as the civil-law solution

A Dutch STAK achieves the same split under Dutch law. The foundation owns the shares and votes on them under articles of association that you write. Family members receive certificates for the full economic value, including the dividends. A board you choose controls the foundation, while the next generation already owns the value. The STAK is registered, legally recognised and accepted by banks, as the full explanation sets out.

In a holding structure, one Dutch company owns the shares of another, and each has its own deed of incorporation, as the Dutch holding structure for non-residents explains. Corporate secretarial services in the Netherlands covers the shareholder register, the board decisions and the yearly filings of both companies.

A Dutch family office consists of a holding company, a foundation that issues depositary receipts for the shares (STAK) and a foundation for charitable giving. For how families organise the decisions, see a family office in the Netherlands.

When each instrument works best

The common-law fund remains the better instrument for assets and heirs in common-law countries. Certification is the better choice for continental companies, EU banks and heirs in civil-law countries, because the law there recognises it. Certification can be combined with a separate foundation for the family charter, as how a family governance foundation works explains. The structure is placed above the holding company described in how a holding company works. Families with ties to both legal systems often use both instruments.

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Frequently asked questions

Is a STAK recognised outside the Netherlands? +

Yes. A STAK is a Dutch foundation with legal personality, so it can register, open a bank account and sign contracts across the EU. Common-law funds have to negotiate for that recognition, while a STAK certificate is recognised from the start.

Can a STAK own assets beyond shares? +

A STAK mainly owns shares, usually those of the family holding company, which in turn owns all other assets. In this setup, each of the two parts has its own task.

When was this last checked? +

Reviewed 18 August 2026. These instruments have changed little in decades, and the difference in recognition follows from the legal systems themselves.

Sources Belastingdienst · KVK · wetten.overheid.nl Last updated: 18 August 2026