A trust moves legal ownership to a trustee who holds and manages assets for the people you name. ITMC takes that role under its own licence.
You transfer assets to a trustee. The trustee becomes the legal owner and holds them for your beneficiaries. What the trustee may and may not do is written into the trust deed before anything moves.
That deed is the document that matters, and you shape it with your own adviser.
You. The person who sets up the trust and transfers the assets into it.
ITMC. Holds legal title and administers the assets under the terms of the deed.
The people you name. What they receive, and when, is set out in the deed.
A client holds a company in Singapore, property in Malaysia and an account in Hong Kong. Without a structure, each country applies its own succession rules when he dies. His family then deals with three processes at once.
A Labuan trust holds all three under one trustee, with one set of instructions.
Four things sit with us once the deed is signed.
We take the trustee role under our own Labuan licence, LT0030.
We hold the assets, keep the records that go with them, and carry out what the deed says.
Your adviser drafts it. We review it and sign.
When a beneficiary or a bank has a question, a named trust officer answers it.
Your beneficiaries deal with one trustee instead of several jurisdictions.
The trust deed is not filed in a public register, so its contents stay between the parties to it.
You keep a named contact who knows the file.
Yes, if the deed provides for it. Ask your adviser to include that when it is drafted, because retrofitting it later is harder than getting it right first.
The parties to it, and anyone the deed itself requires. A Labuan trust deed is not filed in a public register.
Yes, and it is common. Your adviser will explain what it means for how much control you can keep.
A short conversation is the quickest way to find out whether a trust fits your situation, or whether something else does.