ITMC Fiduciary Limited is licensed by the Labuan FSA to act as trustee, drawing on a Labuan practice operating since 1996, managing trust structures, custodian functions and fiduciary obligations for clients across Asia-Pacific.
ITMC is licensed by Labuan FSA (licence LT0030) to act as trustee. Our trust and fiduciary services cover the full range: Labuan trusts (as trustee), foundations (establishment, and acting as secretary, nominee officer or council member), custodian trustee for funds and bondholders, and management of managed trust companies (MTCs) for groups that require Labuan trust company capability without having their own local operational presence.
We have been providing trust and fiduciary services in Labuan continuously since 1996 (under Island Trust until 2003, then ITMC). That continuity is what trust administration demands.
Labuan Trust: the classic structure. Settlor transfers assets to trustee, trustee holds them for beneficiaries under the terms of the trust deed. Private (no public register), flexible, rooted in common law. See our trust setup page.
Labuan Foundation: a separate legal entity, owned by no-one, governed by Charter and managed by an officer, with an optional council. More founder control than a trust, clearer asset segregation. A Labuan foundation is primarily utilised for private wealth management, asset preservation and multi-generational succession planning, with the flexibility to incorporate philanthropic purposes. See our foundation page.
Custodian trustee: for mutual funds and debenture issues. The trustee holds the fund or debenture assets in trust for the unit-holders or bondholders, in accordance with the trust deed.
Trust manager of MTCs: for groups that require Labuan trust company capability without having their own local operational presence. ITMC manages the trust function on the group's behalf under a managed-services arrangement.
ITMC is licensed to act as trustee in Labuan. It registers Labuan foundations and provides trust, fiduciary and custodial services to Labuan trusts, foundations, mutual funds and debenture holders, as well as management services to Labuan MTCs. The firm has practised fiduciary work in Labuan continuously since 1996.
The two structures solve overlapping problems but differ in legal nature, control architecture and how assets are held. The table below sets out the practical differences a Founder or settlor will weigh.
| Feature | Labuan Trust | Labuan Foundation |
|---|---|---|
| Legal status | Relationship between settlor, trustee and beneficiaries | Separate legal entity, owned by no-one |
| Governing instrument | Trust deed | Charter and by-laws |
| Manager | Trustee (ITMC under LT0030) | Officer, with an optional council; ITMC acts as secretary |
| Founder / settlor control | Limited; settlor must be excluded for asset-protection reasons | Higher; Founder rights can be embedded in the Charter. Founder can also be appointed officer or council member |
| Asset segregation | Assets held by trustee for beneficiaries | Assets owned by the foundation itself |
| Public registration | No public register; trust deed is private. Option to register the trust with Labuan FSA | Charter registered with Labuan FSA |
| Beneficiary rights | In a trust, the beneficiaries have equitable rights to the assets | In a foundation, the beneficiaries do not have any rights to the assets |
| Beneficiary register | Inside trust deed (private) | Inside Charter (private) |
| Typical suitability | Common-law families, succession across generations, classic trust comfort | Civil-law founders, control-conscious clients, clear asset isolation |
| Asset protection cliff | From 2 years after the creditor's cause of action arose (Labuan Trusts Act 1996) | From 2 years after the creditor's cause of action arose (Section 58, Labuan Foundations Act 2010) |
Trust work tends to fall into a small number of recurring patterns. Three archetypes cover most of the structures ITMC sets up and administers.
First-generation Asian entrepreneurs consolidating operating businesses, real estate and investment portfolios into a single Labuan trust. Beneficiaries are typically the spouse and children, with a Letter of Wishes describing how the trustee should treat education funding, distributions during the settlor's lifetime, and the transition after death.
Shareholders of operating businesses ring-fence specific assets, often intellectual property, brand rights or holding-company shares, from the trading risk of the operating subsidiary. The trust sits above the operating group; trading liabilities cannot reach the ring-fenced assets.
Mutual funds and debenture issuers appoint ITMC as custodian trustee. We hold the underlying assets or the security interest in trust for unit-holders or bondholders, monitor compliance with the trust deed or debenture instrument, and step in if the manager defaults.
A trust is a three-party (sometimes four-party) relationship. The settlor places assets into the trust; the trustee holds and administers them; the beneficiaries receive the benefits under the trust deed. A protector can be added where the settlor wants an additional check on trustee decisions.
The person who establishes the trust and transfers assets into it. Once the trust is constituted, the settlor's role typically ends, unless the trust deed reserves specific powers.
Holds legal title to the trust assets and administers them under the terms of the trust deed. ITMC acts as professional trustee under Labuan FSA licence LT0030.
The persons (named individuals, classes, or charitable purposes) who receive the benefit of the trust. The trust deed sets out their entitlements and the trustee's discretion.
A trusted individual or committee with veto or consent rights over specific trustee decisions: distributions, change of trustee, amendment of the deed. Frequently used where the settlor wants additional oversight without becoming the trustee.
Trustee services for Labuan trusts; establishment of Labuan Foundations, with secretary, nominee officer or council member services and a registered office; custodian trustee for funds and debenture holders; and management of managed trust companies. ITMC is licensed by Labuan FSA (licence LT0030) to act as trustee.
Discretionary, fixed, charitable, and purpose trusts. The most common for private wealth is a discretionary trust. See our Labuan trust setup page for the process.
A trust is a relationship: the settlor transfers assets to a trustee who holds them for beneficiaries. A foundation is a separate legal entity owned by no-one, governed by a Charter and managed by an officer, with an optional council. Foundations offer more founder control and clearer asset segregation. See our Labuan Foundation page.
Yes. We can act as custodian trustee for mutual funds and for debenture holders, holding assets in trust and ensuring compliance with the trust deed or debenture instrument.
A managed trust company (MTC) gives a group Labuan trust company capability without its own local operational presence. ITMC acts as trust manager for selected Labuan MTCs and runs the trust function on the group's behalf.
Yes, with the approval of Labuan FSA. Foreign assets can be placed into a Labuan trust without additional approval. The trust deed is private; there is no public register of trust ownership. If the trust property includes any Malaysian asset, any income derived from that Malaysian property is subject to the standard Malaysian Income Tax Act 1967.
The Labuan Foundation is an alternative wealth structure with stronger founder control and clearer asset segregation than a trust.