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.