The Private Trust Companies Act, 2012-22 (the Act) has
been enacted into law in Barbados and was proclaimed on May 16,
2014. The Act provides an innovative product to enhance the
international structure offering for companies and ultra high net
worth individuals and families.
A Private Trust Company (PTC), essentially, is a company which
is incorporated for the main purpose of acting as a trustee of a
specific trust, or a number of related trusts. To give some
perspective, this can be compared to a professional trust company
which is in the business of acting as trustee, and providing trust
administration services to the public at large for a fee. PTCs have
been quite popular in various jurisdictions for about 20 years,
with the main benefits including:
