Labuan Trust Company
Labuan Trust Company is the first contact point for anyone who would like to start their business in Labuan. There are two types of Trust Companies, namely full-fledged and managed trust.
The role of a Labuan full-fledged Trust Company is as follows:
- Acts as the agent and is responsible for incorporating and registering all Labuan entities such as Labuan company, foundation, protected cell, and limited partnership
- Acts as Resident Secretary for Labuan entities and performs the secretarial duties such as lodgement of documents to the Labuan FSA, report of business activities, keeps the record of minutes and statutory documents
- Provides the registered office for all Labuan entities
- Provides management, accounting, and tax services to all Labuan entities
- Provide consultation and advice regarding taxation, business structuring, estate planning, and wealth management. It can also provide tax filing service for all Labuan entities
- Acts as liaison party with Labuan immigration department for all Labuan work visa applications for the expatriates’ employment by Labuan company
- Provides Trust service and act as Trustee
- Provides Custodian service
Labuan Trust Company has to comply with a strict due diligence process of its clients based as per the guidelines issued by Labuan FSA, and Anti-Money Laundering Act and Anti-Terrorism Financing Act 2001.
Managed Trust Company is permissible to undertake the above roles except for acting as Trustee and Custodian.
Powers of Labuan Trust Company
A full-fledged Labuan Trust Company can be appointed as executor, custodian, administrator, agent, sole or joint trustee and any other function that allowed by Labuan FSA and permitted by the Labuan legislations. Labuan Trust Company has the powers to execute, act and perform duties for the appointed position as fully and effectively including any of the following:
- Acting as trustee under any instrument creating a trust for the care and management of the property under the same circumstances and in the same manner as any other trustee;
- Accepting and executing any trusts, duties, and powers that may be granted to it regarding holding, managing, investing, or disposing of any property, real or personal, that may be committed or transferred to or vested in a trust estate and any rents, income, profits, and proceeds of that property or the sale of that property;
- Acting as agent for holding, managing, investing, or disposing of any property, real or personal, and any rents, income, profits, or proceeds of that property or the sale of that property;
- Acting as trustee under any mortgage, deed of trust, or indenture for securing bonds or other debt securities issued by any corporation, association, state or country;
- Acting as agent or trustee for registering, countersigning, or transferring certificates of stock, bonds, or other evidence of indebtedness of a corporation, association, state or country;
- Acting as a custodian for the clients’ funds.
TRICOR Trustco (Labuan) Ltd is a full-fledged Labuan Trust Company licensed (LTC 0061) by Labuan Financial Services Authority (Labuan FSA). Tricor Trustco is part of TRICOR GROUP of companies (www.Tricorglobal.com), Asia No #1 in Corporate Services. With this platform, we look forward to serving you with a one-stop solution not only locally but globally as well.
To serve our clients better and more conveniently, we have two (2) offices located in a prime location for easy accessibility as follows:
Our Management Office in Labuan;
Suite 15A(1), Level 15, Main Tower Financial Park
Jalan Merdeka, Labuan 87000
Federal Territory Malaysia
Tel: +6087-453 288 (same building as Labuan FSA office)
Our Marketing Office located within the vicinity of Bangsar South, Kuala Lumpur:
Unit 31.01 Level 31, Vertical Suite
Bangsar South, Jalan Kerinchi
59200 Kuala Lumpur, Malaysia
Tel: +603-2783 9191 (Labuan Division)
You do not need to fly into Labuan to register your company. Once the company is fully set-up, for the onward handling of changes or compliance matters for your company, it can easily be done through emails or meet up at our Kuala Lumpur office.
Often, our clients will fly-in to Labuan only for these purposes:
- To visit Tricor Trustco management office, perform Annual General Meetings, discussion of company structure change, compliance matters, etc
- For Immigration meetings for Labuan visa application and endorsement
- To meet Labuan banker for opening bank accounts
- To visit to engage office and residential address
- To visit Labuan for better understanding and sightseeing
As a full-fledged Labuan Trust Company licensed by Labuan FSA, we are qualified to provide extensive support from due diligence, incorporation, profiling the license applications, work permit, structure funds, and assisting clients on full compliance duties for all the businesses and sectors of the Labuan Jurisdiction as follows:
Labuan Financial Services | Labuan Insurance | Labuan Wealth Management | Labuan Capital Markets |Labuan Special Vehicles | Labuan Mutual Fund | Labuan Commodity Trading | Labuan International Company | Labuan Business Licenses | Labuan Protected Cell | Labuan Partnerships | Labuan Leasing | Labuan Shipping |
The service of Labuan Trust Company, not limited to providing advisory on recommending, and establishment of the right structure for estate planning and wealth management for the following vehicles:
Labuan Private Foundation | Labuan Charitable Foundation | Labuan Trust | Labuan Private Trust |
We work closely with the following three (3) main Labuan authorities to meet perform all compliance duties for or on behalf of our clients:
- Labuan Financial Services Authority
- Labuan Immigration Department
- Labuan Inland Revenue Board
3 simple steps to set up a Labuan Company as follows:
Step 1 – Define your objective for setting up a Labuan company and type of business you intend to start
Step 2 – Choose your name, officers and banker
Step 3 – We will perform due diligence and guide every piece of documents for successful incorporation of the company with Labuan FSA
Like any other form of entity in Malaysia, Labuan company has to apply for Business Licenses to operate. [What is Business License?]
4 simple steps to set up the Labuan Private Foundation as follows:
Step 1 – Identify your objectives and goal for succession needs
Step 2 – List of your assets to endow and beneficiaries concerns
Step 3 – We will guide you to get the right structure of the Foundation
Step 4 – We perform the due diligence process with complete profiling of your documents to enable smooth registration with Labuan FSA.
Wealth succession planning is about how to successfully preserve and transfer your wealth from the present generation to future generations with a financial strategy to ensure that your assets go to the right people at the right time. Labuan IBFC offers complete solutions to manage your wealth protection and succession. It is the only jurisdiction in Asia that offers Private Foundations! Find out why Labuan Private Foundation is a preferred wealth vehicle now!
CRS Solutions for Labuan Company
Due to Common Reporting System (CRS) introduced by OECD to guide proof of tax resident of all businesses, we glad to extend our office back-end solutions to assist all our clients to create commercial substance tax proofing for their Labuan Companies legitimacy operation in Labuan. For convenient, we provide a complete CRS solution for Labuan company to assist you to comply with the current CRS guidelines to kick-start your office operations in Labuan as follows:
- Office space solutions
- Business center secretarial service
- Human resource hiring
- Billing assistance
Feel free to contact us to guide you on your Labuan investment needs!
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