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Labuan: Offshore Business Sectors

Trust Management

A "Trust company" means a company registered under the Labuan Financial Services and Securities Act 2010 (LFSSA) to carry on business as a trust company. Any company that is incorporated or registered under Labuan Companies Act 1990 (LCA) may apply for a licence as a trust company.

A company may also apply to be licensed as a managed trust company. This is a trust company licensed under LFSSA, but is managed by a fully operational trust company in Labuan. Besides companies established under the LCA, a registered trust company in other jurisdictions is also eligible to register as a managed trust company in Labuan.

It is a requirement under the LCA that a Labuan company must employ the services of a trust company.

A trust company is required (at the time of writing) to have a minimum authorised and paid up capital of RM500,000 and RM150,000 respectively, and to deposit RM100,000 with the Accountant-General as a security deposit. A nominal annual licence fee is payable.

A Labuan trust company may act as a trustee, agent, executor or administrator pursuant to its memorandum, and may provide share registration services, administer, manage or otherwise deal with property as an agent or trustee, maintain an office, agency or branch for another company, provide management and accounting services, directors, secretaries and registered offices of offshore companies, and incorporate and register offshore companies.

 

 

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