Characteristic of Labuan Trust


  • Settlor must be a qualified person or a resident who can retain certain wide powers including revoking, amending or varying the terms of the trust.
  • The beneficiaries of a Labuan trust must also be a qualified person or a resident.
  • At least one of the trustees of a Labuan trust must be a Labuan Trust company
  • Where a trust property includes Malaysian property, prior approval must be obtained from Labuan FSA
  • The duration of a Labuan trust may be prescribed
  • The Act allows the settlor to provide a letter of wishes, in addition to provisions contained in the Trust Deed.

 

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