Why Should You Think About Setting Up a Labuan Trust Company?

by Simply Offshore Labuan Offshore Company

Before we move further in exploring the insights about a Labuan trust company, let’s just figure out what exactly is a Labuan trust company? Whoever is having sufficient assets is free to set up a Trust company in order to protect his assets. The owner who is having assets can form a Trust relationship with one or more Trustee who is legally responsible to fulfill the duty of holding and managing the assets for the Beneficiaries as directed by a Trust’s Deed. The most basic purpose of the Trust is to protect the assets like money, property any type of investment or belongings properly according to what all is directed by the Trust. Now, here in this article few points are highlighted on that why should you think or look forward to establishing a Labuan Trust company so that you can fully safeguard assets.

Maintenance of Family Wealth

The assets like land or any other type of interest in the family company can be owned by the Labuan Trust company which can make easy for the settlor to divide between the family members properly. The good about the Trust is that it can benefit the relevant members even without their direct interference or ownership in the assets and can fully maintain the asset from any threat.

Tax Relief

A Labuan trust company is a good initiative for tax planning or tax saving schemes because there is hardly a need to pay taxes for the assets maintained by a trust company. Through a trust company, you can avail the liberty of securing your assets from taxes and can enjoy the benefits that you can get by the income of the trusts. The Labuan trust company is not liable to pay taxes on the assets and the income earned through it.

Emigration

Now another major reason of forming a Labuan trust company is when the owner of the assets or owner’s family is moving to any other country because this is the best time to set up a trust and to acquire the benefits like tax exemption, accessing other laws of the countries in order to maintain the credibility of the family wealth and make the situation better and convenient for the family members to take advantage of the assets and income earned through assets.

These were few favourable points which you can think of for setting up a Labuan trust company, besides these, there are other points too which can also foster your trust company and allow you and your family members to manage the assets without any hassle.