Labuan Private Trust Companies:
A Private Trust Company is a Labuan company formed for the specific purpose of acting as trustee for a trust or trusts, in which the beneficiaries of the said trust or trusts are a group of connected persons in relation to the Settlor, the person creating the private trusts.
Thus by definition, a private trust company does not solicit from or provide trust company business services to public.
A Private Trust Company is deemed to provide services to its Settlor and as such, it is considered a Labuan Trading Company for tax purposes, hence, the Company has a yearly election of either paying a flat tax rate of MYR20,000 per annum or 3% of audited net profits.
BBS Trust International Limited +60 12-360 7313
+60 12-611 0168
+60 3-7772 6333
info -at- bbstrust -dot- com