The Company is able to provide services for the client’s needs relating to lifetime and/or testamentary management of assets. These include advisory and involvement with the creation and management of trust-related structures, such as:
- Private Trust Companies
- Purpose Trusts
- Asset Protection Trusts
- Charitable Trusts
A Bahamian Private Trust Company (PTC), is a company formed (either as an International Business Company or a Bahamian Company) for the express purpose of acting as trustee of a specific trust or group of trusts for the client’s family members. It can be tailored to suit a client’s need and has become the preferred tool in the structuring of estate and inheritance planning requirements, ensuring protection for future generations.
A PTC allows settlors and beneficiaries to have more involvement and control in the administration of underlying trusts, without prejudicing the validity of those trusts. The PTC structure, with a Board of Directors made up of trusted professionals, and/or advisors and/or family members will give comfort and assurance to clients whose needs require specific attention.
The Private Trust Company Structure
Why opting for a Bahamian PTC ?
The benefits of establishing a PTC:
The PTC allows the family to keep control of its assets as the client has full flexibility to appoint the board of directors of the PTC from among family members and/or trust advisors and without the need for a Bahamas resident director.
The trustee is genuinely knowledgeable of, and sensitive to, the needs, the background and the dynamics of the family.
The PTC gives comfort with the ability to limit the circulation and disclosure of information concerning the family’s affairs.
A “trusted advisor” relationship can deliver continuity of service.
The powers and operations of the PTC can be tailored to meet the needs of the family.
Education and Empowerment
Involving the next generation is an effective way of preserving wealth across generations.
The ongoing costs of a Private Trust Company can be very attractive, particularly at the more sophisticated end of the market in which it is most likely to be used.
The corporate entity enables individuals to act in connection with a trusteeship without exposing the assets of the individual to the same risk of unlimited liability, which flows from individual trusteeship.
Non-liquid assets from real estate, boats, aircraft and artwork, to operating companies can be held through the same structure.