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During the previous centuries, different communities of the world have progressively established closer relationships. However, these processes have significantly "deepened" during the last decades. Globalization has stipulated the interconnectedness of juridical systems of the world. Closer contacts resulted in the popularization of the "trust" - a unique creature of Equity. The "trust" appeared at the end of the Middle Ages. However, after "invading" American business sphere, its alternative devices appeared throughout Europe. Initially, the implementation of these devices was contradicted by the traditions of the continental law-governed countries - the duality of ownership seemed almost unacceptable to the "rigid" European jurisdictions. However, despite such circumstances, "trust-like" mechanisms appeared in different forms and variations. The given paper is focused on the study of the Swiss and Luxembourgish trust-like devices. The greatest emphasis is put on the formation of these institutions, their peculiarities and influence on the development of Switzerland and Luxembourg. The terminological context of the study directly points to the origin of the newly adopted mechanisms. Moreover, the novelty of the research is presented by the terminological approach towards the innovative legal institutions and by the assumptions concerning the strategies of their future impact and development. [ABSTRACT FROM AUTHOR]