Private Trust Companies
A Private Trust Company (PTC) is a company formed to act exclusively as a corporate trustee of a limited number of trusts for one family. Advantages of a PTC include control, confidentiality and protection from fiduciary risk.
Often owned by an overlying purpose trust, this structure is established to act as the trustee of one or several trusts, which each hold part of the family wealth for the benefit of family members.
Louvre Trust can assist in establishing and administering PTCs and their underlying trust structures.
Why Use a Private Trust Company?
- Flexibility. PTCs can be created to fit a family’s personal and financial circumstances;
- Control. PTCs give the family and their trusted advisers direct control and influence over the trust decision-making process;
- Ease. In Guernsey, a PTC does not need its own fiduciary licence provided the PTC is not remunerated for its services as a trustee. A fully licensed trust company will be required to provide administration services, registered office and secretarial services for the PTC. Louvre is experienced at providing these services as well as local director(s) for the PTC, which is also required.
For more information about Private Trust Companies contact us.