Private Trust Company

Labuan Private Trust

A trust in which each beneficiary of the trust is a connected person in relation to the settlor of the trust.
Labuan PTC is a Labuan company formed for the specific purpose of acting as trustee for a group of connected persons.
In a PTC, the settlor, members of his family or his advisors can be appointed to the Board of Directors. The composition of the Board can be changed from time to time to bring in members of succeeding generations and in this way, involve them in the management of the family affairs.
A Labuan PTC is used to facilitate the management and administration of family wealth for the purposes of dynastic planning and wealth transfer.

An applicant is required to submit an application of which the submission should include the following:

Complete Form LTC as required by LFSSA 2022.
Submit draft trust instrument to Labuan FSA.
Ensure fit and proper directors/officers to be appointed for the Labuan PTC.
Provide a letter of undertaking that the PTC shall not carry out any trust company business other than with respect to the private trust(s).
Appoint Labuan trust company as agent and provide a certified copy of the executed agent’s engagement agreement.