Labuan Trust

Labuan trust is an efficient tool for preserving assets, safeguarding wealth, and distributing income. It is one of the primary tools used to transfer wealth from one generation to the next, offering unparalleled financial control and significant fiscal benefits.

The creation of a Labuan trust is generally for an individual or settlor transferring specific property to a 3rd party to be held for the benefit of others, including charities. The Labuan Trust Act 1996 (LTA) allows the establishment of various types of trusts, including:

Purpose trusts;
Charitable trusts;
Spendthrift or protective trusts; and
Labuan special trusts.

Requirements:

The registered office of a Labuan trust shall be the registered office of the Labuan trust company which has been appointed as trustee of the trust and shall be the address for service of any documents relating to the trust.
Accounting records and other records shall be kept at the registered office of the Labuan trust.
The Labuan trust must ensure that its settlor, trustees and other relevant persons remain fit and proper throughout the operations of the trust, as specified in the Guidelines on Fit and Proper Person Requirements issued by Labuan FSA.
The Labuan trust must comply with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
All Labuan trust companies are required to submit a status update on the Labuan trusts under their care to Labuan FSA on a semi-annual basis.

Labuan Trust

Requirements:

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