Wealth Management
Labuan IBFC’s comprehensive ecosystem which includes a strong set of legislations provides the needed comfort and protection for wealth management activities. The Centre also offers investors particularly affluent individuals the avenue for structuring and administering their wealth management and estate planning. Legally-established vehicles such as trusts and foundations are available to suit investors seeking for common and civil law wealth management solutions. These structures can provide a wide array of private wealth management needs and are especially suitable for family offices and wealth managers in facilitating dynamic wealth transfer, dynastic planning and inheritance management. The structures can be undertaken either via conventional or Islamic means, to meet individual preference.
- Labuan Trusts
A Labuan trust is a common-law vehicle which can be used for asset preservation, protection and income distribution, making it one of the primary vehicles for wealth management. The creation of a Labuan trust is generally for an individual (settlor) to give specific property to a third party to be held for the benefit of others, including charities. The Labuan legislation allows the creation of various types of trusts including purpose trusts, charitable trusts; spendthrift or protective trusts; and special trusts. - Labuan Foundations
Labuan foundations offered by the Centre provide a wealth management solution with legal certainty to cater for the needs of high net worth individuals in the region. Labuan foundations are established either for charitable purpose or private wealth management. Charitable foundations are established for various non-profit or philanthropic purposes which include for relief of poverty, advancement of education and other social economic purposes to benefit the community. Private foundations, on the other hand, are geared towards affluent individuals looking for a civil law vehicle to manage estates and assets for their beneficiaries.
