Private Trust Companies
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A private trust company (PTC) is generally established by a wealthy family to act as trustee of specific family trusts. It allows the family to retain a level of influence over their family trusts as they can have input into the choice of the directors of the PTC and in fact, family members or their trusted advisers may sit on the board of such companies.
The PTC may also allow the family greater flexibility when it comes to the choice of investment strategy and advisors. Often a PTC is run in conjunction with a family office.
Services
- Establishment of the required entity and filing of all set up or registration documents with CIMA
- Maintenance of the required entity including meeting filing requirements, annual registration and/or other CIMA requirements
- Acting as Trustees for the Trust that owns a Restricted Licensed Trust Company(“RLTC”) or Registered Private Trust Company (“RPTC”), where applicable
- Provision of Principal Office, Authorised Agent, Directors, Officers and administrative services for either RLTC’s or RPTC’s and its related entities
- Provision of the Money Laundering Reporting Officer, Deputy Money Laundering Reporting Officer and Anti-Money Laundering Compliance Officer for RLTC’s
- Provision of accounting services for any RLTC or RPTC and its related entities