The article is devoted to some problematic issues related to the regulation of personal funds with a foreign element and international personal funds. The author notes that these are two distinct structures with distinct regulatory characteristics, but both may face issues of «depecage» applicable law. Attention is drawn to the differences in the regulation of international personal funds and Russian personal funds. The author suggests ways to resolve the issue of contradictions in the current legislation of the Russian Federation, taking into account that international personal funds were created primarily as an anti-offshore measure.