Private Trust

Governed under the Financial Services Act 2007 (FSA) and the Companies Act 2001, a Private Trust Company (PTC) is, essentially, a company formed for the specific purpose of acting as trustee of a single Trust or a group of related Trusts.

Such a Company provides a means by which a settlor can retain a greater degree of control over his trust affairs, have a “hands on” approach in the management of the affairs of the Trust without compromising the validity of the Trust structure and whilst providing enhanced protection for fiduciaries.

A PTC is used mainly for the benefit of High Net Worth (‘HNW’) family or for the benefit of different branches of a HNW family or for distinct (but related) family groups as opposed to the public in general.

A PTC may be registered either as a GBC1 or as a GBC2.