What Are The Advantages And Types Of Labuan Trusts

A trust is defined as a legal relationship whereby an individual also termed as the settlor transfers her or his assets to a company or an individual termed as the trustees, who is responsible for managing and holding the assets for the benefits of beneficiaries named by the settlor.

When the trust was created, the settlor and the beneficiaries must be ‘qualified persons’ and must nominate a trustee, and also, there should be at least one of the trustees of the trust must be a Labuan Trust Company. It falls into four different categories, namely: Private, Corporate, Charitable, and Purpose. There is a wide range of creating Labuan Trust, including Tax Mitigation, Preservation of Family Wealth, Avoidance of Probate, Emigration, and Protection of Assets.

Additionally, Labuan Trusts offers great and effective solutions for individuals as well as companies including Wealth protection, Tailored to specific family requirements, Recognized in all common law jurisdictions, Increasing recognition in important civil law jurisdictions, An important tool in international income, and capital gains and estate tax planning. Simply Offshore is a reputed firm that can help you in efficiently establishing Labuan Trust while helping you be content with all the laws and regulations.

What Are The Numerous Advantages Of Labuan Foundation

Being a Federal Territory of Malaysia, Labuan has its own regulations for numerous financial activities supported on within the Labuan International Business and Financial Centre, which is pretty different from the domestic Malaysian laws and regulations. Labuan is one of the few offshore jurisdictions that interests foreign companies and investors, especially Asian business, who are looking for the right entity to set up their business’ operational center offshore.
 

Labuan Foundation is a corporate body that has a different legal entity, established basically to hold numerous assets in its own name. The purpose is to set out in its charter or constitutive documents, so as to manage the assets for the benefit of a class of persons on a contractual basis.
 

Labuan Foundation is basically used for the management of private wealth, other charitable purposes, collective purposes, and also for family patrimony. Get content with the process and benefits of Labuan Foundation with one of the most reputed and reliable independent trust companies, Law & Commerce Trust Limited (SimplyOffshore.com), which is licensed by the Labuan Financial Services Authority.