Benefit and Advantages of setting up a Trust company in Labuan
Here are some benefits and advantages that you should know about setting up a Trust in Labuan
- When the assets are placed in a Trust, it is no longer considered to be in your possession
- If your Trust is set up as an irrevocable Trust, in the event of claims from creditors or external parties, the assets are protected.
- Since the assets are not in your possession, you do not have to pay income tax on any money generated from these assets
- Useful tool for estate planning
- Tax savings in international income and capital gain because in Labuan, no tax charges for non-trading activities
Flexible and Recognition
- Can be tailor-made according to different family sizes and requirements
- Recognized in all common law jurisdiction and plus increasing recognition in civil law jurisdictions
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