General FAQ

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Avoids freezing of assets
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Protects assets
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What is a Trust?

A Trust is a fiduciary relationship in which one party, known as a settlor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. The trustee can professionally manage the settlor’s property in accordance with his or her instructions.


Trust is widely recognized around the world. Overseas courts and prestigious financial institutions also recognize such structure. In Hong Kong, a trustee is not only bounded by Hong Kong Trust Law (Trustee Ordinance Cap.29 and Recognition of Trusts Ordinance Cap. 76) but also the Hague Convention of International Law.


The Law of Trust developed in the United Kingdom hundreds of years ago. In the past, it was constructed as part of the equity which helped to reduce the strictness of the Common Law. Nowadays, all these past judgements have become the main source of law in Hong Kong and other Commonwealth countries.

Is the Trust robust?

1) High compliance regulation

Trust service in Hong Kong has a history of more than 100 years and are regulated by the Hong Kong Trustee Ordinance, which mirrors British Trust Law. Hong Kong trusts are also protected by the Hong Kong Recognition of Trusts Ordinance of which The Hague Convention also applies to it. Trust licensed companies in Hong Kong are directly monitored by the Financial Secretary of the Hong Kong Special Administrative Region.


2) Independence of the trust asset

Section 89 of Chapter 29 of the Trustee Ordinance stipulates that all money, property and securities received or held by any trust company as a trustee shall always be kept separately from the money, property and securities of the company. Each trust is marked in the account book to distinguish it from any other money, property and securities in the company’s register and other account books. Therefore, no trust money shall form part of the company’s assets or be mixed with the company’s assets at any time . The client's assets will never be used to repay the debts of the trust company according to the Article 11 of Cap. 76 Recognition of Trusts Ordinance. Therefore, the trust assets are protected in law and not affected by the collapse of the Trust Company.

What is the difference between a Trust account and bank account?
What is the difference between an offshore account and a trust offshore account?
Is Trust private?

UniTrust Global Limited is regulated by a high standard legal and compliance department and fulfills all legal requirements. In accordance with Section 2(1), Chapter 1 Section 2(a), of the Trust Recognition Ordinance (Cap. 76), the assets of the trust are an independent fund, held in the name of the trustee, and the client and asset information is confidential. All trust management and operation will be carried out in the name of the trustee (UniTrust Global Limited), the assets and contents of the trust are strictly confidential and will not be disclosed to any third parties.

Can creditors claim my assets in Trust?

The custodial trust service provided by UniTrust Global Limited can act as a firewall of property. According to Section 89 of Chapter 29 of the Trustee Ordinance, the trust assets are a separate fund that is not part of the Trust Company's property. Furthermore, the legal title of trust assets is the trustee, who is responsible for managing the trust assets in accordance with the terms and special duties imposed on him. If the purpose of the trust is not illegal and the trust period is more than 5 years, the chance of the trust assets being claimed is low.

What is family trust (Private Trust)?

Family trust is a type of private trust. A family trust is any trust vehicle that you've set up to benefit members of your family. The family trust is a popular vehicle in estate planning. You know your family best, and a family trust can help you customize how you provide for your family, both during your lifetime and after your death.


The initial trust property of a family trust can be:

· Current assets (e.g. cash, securities, fund units)

· Fixed assets (e.g. land and real estate, art, antiques and collectibles)

· Contracts and agreements (e.g. including insurance contracts, private contracts, commercial agreements)


Benefits of a Family Trust:

· Avoid expensive court certification procedures for probate of the Will while the estate might be being frozen during the probate period.

· High confidentiality. Estate information does not become a public record like a Will.

· Promote family harmony since family trust is very difficult to refute or challenge.

· Prevent squandering money for pleasure in the next generations. Family trust can distribute the property exactly as you want to avoid future generations being profligate.

· Scalable. the establishment can increase assets at any time as needed, and the establishment of a "durable power of attorney" to designate someone to deal with in times when they cannot manage the transaction.

· When the establishment loses the legal physical and will judgment ability, it is not necessary to appoint an asset manager through a certified court.

Will I lose control of the assets in a Trust?

No. All the investment powers and asset management functions will be reserved by you. You are also obliged to assign a new trustee or revoke the trust deed anytime provided that you are the settlor of a revocable trust.

Is Trust regulations different from bank regulation?

Yes. Trust regulation has predominantly evolved upon Common Law and equitable principles where fiduciary duty is the overarching requirement. In contrast, banking regulation is typically based on well formulated rules and regulations which govern almost all actions and reporting requirements which banking institutions need to follow to the letter.


Arguably, trust regulation provides the trustee with greater flexibility in terms of actions which it can execute on management of trust assets and in its reporting requirements. Trust regulation will often allow settlor and beneficiaries to maintain a significantly higher level of discretion.


From application of Common Law and equitable principles, the legal title of assets vested under trust (subject to certain timeline constraints) will no longer be in the name of the original contributor but be transferred to the trustee. Hence, personal creditors of the settlor or claimants under matrimonial, family feudal or other civil litigation will not be able to claim the assets under trust. Unlike under banking regulation, customers’ assets are under personal or corporate legal title which means there will be less legal protection from any legal challenge or claimant against the assets of the person or corporate.

Who can be beneficiaries of my Trust?

Anyone. You, as a settlor of the trust, can also be the beneficiary of your own trust. According to Section 2(c) Recognition of Trusts Ordinance (Cap. 76), if you have not decided who will be the beneficiary/beneficiaries of your trust, you can always assign a class of persons as your beneficiaries. For instance, your children or grandchildren.

How long can a Trust last for? Can I terminate my Trust?

A trust set up in Hong Kong can last forever if you do not terminate it, which means your assets would be protected by a trust for an unlimited period. However, you can always terminate it if you are subject to a revocable trust (s3A Perpetuities and Accumulations Ordinance Cap. 257).

If my trustee (a trust corporation) goes bankrupt, will my assets in the Trust be affected?

Section 89 of Chapter 29 of the Trustee Ordinance stipulates that all money, property and securities received or held by any trust company as a trustee shall always be kept separately from the money, property and securities of the company. Each trust is marked in the account book to distinguish it from any other money, property and securities in the company’s register and other account books. Therefore, no trust money shall form part of the company’s assets or be mixed with the company’s assets at any time . The client's assets will never be used to repay the debts of the trust company according to the Article 11 of Cap. 76 Recognition of Trusts Ordinance. Therefore, the trust assets are protected in law and not affected by the collapse of the Trust Company.

Can I vest my overseas assets to my trustee?

Under section 41Y of the Trustee Ordinance (Cap. 29), the validity of transfer of movable assets would not be affected by the foreign law of succession. For immovable property, clients should make a transfer in accordance with the law of the country where the property is situated.

Can I assign my unborn child as the beneficiary of my Trust?

Yes. You can assign a class of persons as your beneficiaries. For instance, your children or grandchildren. Under s46 Trustee Ordinance (Cap. 29), where any interest in land is subject to a contingent right in an unborn person or class of unborn persons who, on coming into existence would, in respect thereof, become entitled to or possessed of that interest on any trust, the court may make an order releasing the land or interest therein from the contingent right, or may make an order vesting in any person the estate or interest to or of which the unborn person or class of unborn persons would, on coming into existence, be entitled or possessed in the land.

Can my assets held in China be held by an offshore family Trust?

The Law of China strictly restricts transfer of assets to other countries. In most cases, assets held in China cannot be transferred to an offshore family trust directly. If these assets are held or will be held by an overseas company, you can consider having your trustee hold that overseas company on trust for and on behalf of you. Our legal department will assess whether or not that is feasible and provide alternatives which fit your situation.

If I am involved in a Matrimonial Proceeding, will my assets held by the trustee be affected?

The custodial trust service provided by UniTrust Global Limited can act as a firewall of property. According to Section 89 of Chapter 29 of the Trustee Ordinance, the trust assets are a separate fund that is not part of the Trust Company's property. Furthermore, the legal title of trust assets is the trustee, who is responsible for managing the trust assets in accordance with the terms and special duties imposed on him. Therefore, if you are involved in matrimonial proceedings, the assets which are held in your trust account will not form part of your matrimonial property. Furthermore, if the purpose of the trust is not illegal and the trust period is more than 5 years, the chance of the trust assets being claimed is low.

How will my assets be distributed if I do not set up a Trust account nor execute a Will?

Your assets will then be distributed in accordance to s4 Intestates’ Estates Ordinance (Cap. 73). The family members of the deceased have to apply for a death certificate and then they can apply for a grant of probate at the high court. Rule 21 Non-contentious Probate Rules (Cap 10A) provides that where a person dies wholly intestate, the persons having a beneficial interest in the estate shall be entitled to a grant to administration. For instance, the surviving spouse, children or parents of the deceased.


If you have set up a trust which is managed by a licensed trust company, the trustee will distribute the trust assets in accordance to his or her wishes when the settlor dies. The beneficiaries do not need to go through all kinds of expensive and long statutory procedures. You also do not have to choose an executor(s). To avoid any dispute in the future, you are advised to make arrangements when you are of sound mind.

Which authority governs the administration and books of a Trust Corporation?

s95(1) Trustee Ordinance provides that the Financial Secretary may at any time appoint an inspector to investigate the affairs and management of any trust company if it appears to the Financial Secretary that there are circumstances suggesting that the Trust Corporation is in breach of trust, persons concerned with its formation or the management of its affairs have in connection therewith been guilty of fraud, misfeasance or other misconduct towards it or towards its members or the Trust Corporation is insolvent etc.


s95(2) further provides that all officers and servants of the company have the duty to produce all books, accounts, vouchers and other documents in their custody or control in relation to matters under investigation, and to answer truly all inquiries addressed to them respecting any matter affecting the affairs of the company.

How does a Trust benefit me and why should I open a Trust account?

Control and Flexible use of Trust

UniTrust Global, as the trustee, will allocate trust assets to beneficiaries in accordance with the wishes of the settlor, including any time and conditions imposed. The trust can be used for payment of daily living expenses such as bill payment, property rental, car repayment and credit card repayment. The trustee can withdraw funds from the trust account as instructed by the settlor to support families in need or to meet medical and other emergency expenses.

A UniTrust Global trust account can centralize all your assets and provide full function services, which even banks may not be able to offer. Most banking institutions do not support transactions with/on or accept custody of precious metal, large cash amounts or overseas assets. We have a dedicated team of relationship managers with professional qualifications, solid investment and financial knowledge to provide wealth management solutions tailored to your personal needs. With a global team of experts, we can provide a comprehensive solution to support your daily financial needs and cross-border financial requirements.

The trust account can safekeep different assets including cash, stocks, private company shares, insurance policies, precious metals, property and vehicles. Customers will also obtain a personal Asset Link Mastercard credit card. The credit card limit is based on the market value of the assets under the trust account and there is no limit to the amount of credit.

Simply using a single login to our trust platform, you can enjoy cross-regional cross-banking services and a world of investment opportunities.

Asset Protection

A well-established trust protects your wealth and holds your assets through the trust to effectively avoid future claims by creditors. Trust also allows you to protect inherited assets from being squandered by family members, provide life protection for current or future generations of minor or disabled members. By leveraging our network of multijurisdictional banking class partners, a trust can also protect your assets in times of political instability. We can also assist you on business inheritance arrangements.

Most advanced jurisdictions have banking deposit protection program in place, adding in an extra level of security for our customers.

Protection of privacy

The identity of you and the ultimate beneficiary of the trust is highly confidential, keeping the potential of any assets being frozen to a minimum. It can protect the family assets from creditors or other claimants.

Tax planning

Trusts are internationally recognized tax planning tools. Under a robust legal framework and the protection of the laws of Hong Kong, the trust can minimize the tax burden of heirs.

Protect young beneficiaries

If your loved ones are young or do not have the ability to manage their wealth, the trust can properly manage the trust assets for them and use them to cover the living expenses of the beneficiaries.

Exemption from probate requirements

Assets under the name of the trust are managed by the trustee and therefore not part of the settlor estate. Setting up a trust ensures that assets can be distributed quickly and efficiently to your designated beneficiaries without having to go through lengthy and expensive probate court proceedings. In other words, you give legal ownership of the assets to the trustee, and the beneficiary has beneficial ownership.

Succession Planning

By setting up a trust, you can help your family assets pass on from generation to generation or ensure your family business is sustainable.

Trust legislation follows the common law of the United Kingdom and has a history of more than 100 years. Private trust account combined with the traditional banking and the emerging financial services concepts, has become the hottest choice of asset management today. Trust accounts can provide a high degree of privacy and asset appreciation, assets are absolutely protected. Hong Kong has many advantages so that the trust account plays its unique functions including low tax system, US dollar linked exchange rate, high regulatory environment, free access to funds in and out of Hong Kong and a variety of favourable factors have accelerated the rapid growth of the trust account. The trust account is clearly a time-bound financial choice.

What can a trustee hold on Trust for and behalf of me?

A wide range of assets can be held by trust, including but not limited to those listed below:

  • House and other real estate
  • Stocks, bonds, and other investment
  • Cash in multiple currencies (we also offer offshore bank accounts)
  • Large life insurance policies (if the beneficiary is a child, the insurance trust can store the policy compensation in the trust, managed by the Trust Company for the child, until the child reaches adulthood before allocating assets, avoiding possible family disputes)
  • SME ownership and income (small business shares, partnership income, or limited liability company ownership)
  • Precious metals
  • Automobile
  • Works of art, aircraft, yachts

According to s81(f) Trustee Ordinance (Cap. 29) a trustee can hold currencies, securities, jewellery, automobile license plate or other valuable property and of papers, documents, deeds, wills, debentures and other evidence of title or indebtedness on trust for and on behalf of you. By putting your assets into your trust account, you can invest and manage them with the greatest degree of flexibility. UniTrust Global Limited would manage your assets strictly in accordance with your instructions. UniTrust Global Limited has set up an offshore trust account which is recognised by different jurisdictions. We welcome our clients to transfer their capital to our offshore trust account.

What kind of people would we recommend to open a Trust?

We would recommend to those who:

  • Want to access diversified investment opportunities to increase their asset value
  • Are living in countries that may have high tax regime or other financial controls
  • Company which is ready to go public
  • Are living in countries with high financial instability and political risk
  • Are concerned with personal assets being frozen
  • Immigrate or intend to immigrate
  • Need offshore account-based operations
Can I use the assets in the Trust flexibly?

Yes, UniTrust Global provides the basic benefits of the general trust such as asset isolation, confidentiality, and asset protection, we also offer services which can help you take care of payments of living expenses such as bill payment, bank transfer, opening securities accounts, but also the global allocation of assets. Trustee’s role is to act on behalf of our customers in the interest of the beneficiaries.

Over and above, we provide every client a secured Mastercard credit card. You can spend as much as the permitted card credit limit, based on a percentage of the market value of your assets. UniTrust maximizes the liquidity of your assets. Regardless of the client’s credit rating (TU), the credit limit will not affect account operations and credit card applications.

Is Trust difficult to set up?

You can apply online on our licensed digital trust platform at www.utgl.io or make an appointment with our Relationship Manager for account opening. Your application will be processed within 2-3 working days, which is much faster than any other traditional trust application.

Is setting up a Trust expensive?

Opening a standard custodian Trust account on our digital trust platform is free, if you maintain a minimum average monthly account balance of US$10,000.

If you are interested in a more advanced trust account or have specific financial needs, our skilled professionals, including but not limited to lawyers and trust admin, can create a tailor-made private Trust.

How to set up a private Trust?

The simple process of setting up a private trust includes:

1) Client provides his/her identity document and the latest address proof

2) Relationship Manager of UniTrust Global will set up a meeting with client to understand his/her needs

3) Client signs the trust documents (e.g. trust deed, letter of wishes)

4) Client can inject assets afterwards

I heard there are many types of Trust, how do I choose the type?

Private Trust setup is flexible. It is true that a Trust structure can be very simple and standard or can be very complex, depending on the purpose and need that the customer requires. You can set up a simple standard private Trust to meet basic needs or customize the details to meet complex needs.

Are my assets safe with UniTrust Global?

At UniTrust Global Limited, earning your trust and serving our clients are our utmost priorities. We are trustees and custodians in legal title. Yet all assets are held by licensed financial institutions or best in class custodians.

We also pride ourselves on our high legal compliance. All our most important legal documents, from account opening forms to trust deeds are supported by our external Barrister’s legal opinion. This top-notch standard we hold ourselves to will result in better servicing and trust arrangements such that we are confident it provides quality protection to our customers from potential regulatory and litigation risks.

Part (iii) Section 77(2) of the Trustee Ordinance requires all public company Trustee licensees to place a substantial deposit with the Government’s Department of Accounting Services. In addition to compliance with this statutory requirement, we also have voluntarily taken out professional indemnity insurance and full third-party liability insurance for your added peace of mind.

UniTrust Global Limited is a licensed Trust Corporation in Hong Kong and it is also a member of the Hong Kong Trustees’ Association. Some other relevant legal obligations are below for our customer’s understanding.

  • s2 Recognition of Trusts Ordinance (Cap. 76) states that our clients’ and our trust accounts are governed by the law.
  • s3A Trustee Ordinance (Cap.29) states that the trustee must exercise the care and skill that is reasonable in the circumstances, having regard to any special knowledge or experience that the trustee has or holds out as having and if the trustee is acting in that capacity in the course of business or profession, any special knowledge or experience that is reasonably expected of a person acting in the course of that kind of business or profession.
  • s97 Trustee Ordinance (Cap.29) further provides that employees of a trust corporation shall be personally responsible to the court and subject to the process of the court as if he is appointed as a Trustee personally.

The structure of trust provides a greater scope of protection to clients’ assets than the Banking Ordinance offered to the banking account customers. We, UniTrust Global Limited, comprises experts from different fields. Together, we form a well experienced team to manage your account and assets.

Would the relationship manager manage my assets in my account?

Settlor has absolute discretion to hire experts like lawyer and accountant when professional and investment advice are required. Our relationship manager will always take your instructions promptly.

I get into an accident, how can a trustee help my children?

s33 Trustee Ordinance (Cap.29) provides that trustee has the power to pay income of the assets to the parent(s) or guardian of the minor beneficiaries or otherwise apply for or towards his maintenance, education or benefit.

Can insurance policy be held by Trust?

Yes. It can be done by having your trustee as policy holder or policy beneficiary. Insurance trust is always used to hold life insurance with great cash value. After the death of the settlor, the life insurance proceeds will be distributed smoothly to your designated beneficiaries in accordance with your wishes.

Will your company grow my assets in the Trust?

UniTrust Global Limited does not provide investment advice but will invest in different products in accordance with your or your investment manager’s instructions. Our services include but not limited to IPO subscription, purchasing shares or fund units, precious metal trading and purchasing insurance policies. s2 Article 2(c) Recognition of Trusts Ordinance (Cap.76) provides that the trustee has the power and the duty, in respect of which he is accountable, to manage, employ or dispose of the assets in accordance with the terms of the trust and the special duties imposed upon him by law. Our one-stop service not only provides a greater level of confidentiality but also allows our clients to enjoy a more convenient lifestyle.

Any special requirement for setting up a Trust account?

There are no special requirements. We accept various kinds of assets and set no standard to our clients, other than as required by AML regulations. (s81(f) Trustee Ordinance (Cap. 29))

Bank assets are often subjected to 3rd party investigation. Will a Trust account come across the same problem?

UniTrust Global Limited, as a Trust Company is regulated separately from the banks' regulators.

Trust structure and Trust operations are highly secure and private in law. Under the Recognition of Trusts Ordinance (Chapter 76), Schedule 2 (1), Chapter 1, 2 (a), trust assets are a separate fund held in the name of the trustee and customer and asset information is kept confidential. All property is managed and operated on behalf of the trustee (UniTrust Global Limited) and the trust assets are confidential.

Can setting up a Trust account help to avoid CRS?

By subscripting our services, our professional team could provide different alternatives to alleviate the tax burden of settlor. We also provide special proposals to clients when they file the CRS form. A trust structure is not a tax evasion tool but a professional trust corporation can advise clients ways to make their tax exposure more efficiently planned.

Case Study 01 - Asset Protection

Background

Walter Kwok was a Hong Kong real estate developer. He was the eldest son of Kwok Tak-seng, founder of Sun Hung Kai Properties, and his wife Kwong Siu-hing. Following their father's death in 1990, he and his brothers Thomas and Raymond inherited Sun Hung Kai Properties. To protect HK$246.6 billion Sun Hung Kai Properties empire, Kwok Tak-seng set up a family trust before his death. The beneficiaries are his sons and his wife who is also the protector of the family trust.


Until Walter Kwok’s mother figured out the relationship between and Kwok and Kwok’s mistress, Ida Tong Kam-hing, she decided to remove Kwok as a beneficiary out of the family trust in order to protect the family asset.


Benefit of Trust

Integrate assets into a robust legal framework helps to separate trust assets from personal assets. The legal ownership of trust assets does not belong to the settlor or beneficiary. Under a specific trust structure, if the settlor encounters a debt crisis or divorce, etc., it will not affect the ownership of the trust property.


There is no public disclosure requirement for family trusts and the actual beneficiaries will not be threatened by security.


Law Reference

1) Section 2(1) of the Trust Recognition Ordinance

2) Note that section 43(1a) of Chapter 6 of the Bankruptcy Ordinance, Chapter 32 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance and Chapter 219 of the Conveyancing and Property Ordinance, stating that the liquidator has the right to recover Certain situations of unfair transactions, for example, if the deployment takes place within a certain period of time before the bankruptcy or liquidation process begins.


News Reference

Walter Kwok puts faith in original family trust deal

Case Study 02 - Marriage Protection

Background

Jolin Tsai is a Taiwanese Mandopop star and a well-known billionaire. She has been in a steady relationship with New Zealand-born model beau Vivian Dawson for the past four years and wedding rumour have been rife. However, the singer’s father is reportedly worried about incompatibility in status between the pair and that they could end up in a divorce if they decide to get married. As a result, Tsai has trusted Jolin’s NT$2 billion (approximately S$84.4million) assets to the bank as a precaution.


Benefit of Trust

Trust protects assets from divorce proceedings, and restricts the beneficiary of the trust through “conditional distribution” to avoid disputes arising from the division of property.


Note: The establishment of a trust does not completely avoid assets disputes. If the settlor has thought of divorcing a few years after establishing the trust, the trust scheme or arrangement which is, or is likely to be treated by the court to be, a fraudulent attempt by one spouse to defeat the other spouse’s ancillary relief or financial remedy claims.


Law Reference

Section 11c of Chapter 76 of the Trust Recognition Ordinance


News Reference

Jolin Tsai’s assets reportedly trusted to bank

Case Study 03 - Highest Privacy

Background

Mr Vadim Schmidt sought disclosure of accounts and information in relation to two trusts set up by his father, who had died intestate. Rosewood Trustee Ltd was the trustee of the two relevant trusts. The defendant trustee argued that Schmidt was not entitled to the disclosure of the trust documents because he did not have a proprietary interest under the trust. Nor had his father been the settlor under the trust, which had been executed by Pacquerette Ltd as settlor (the nominee of Mr Schmidt).


Benefit of Trust

Trust is a high-standard legal arrangement, inheritance information does not become public records like a will, and the wealth will be kept in a legal, safe and private structure. After the establishment of a family trust, the management and use of the trust property are carried out in the name of the trustee. Except for special circumstances, the trustee has no right to disclose the operation of the family trust property any extreme party.


Note: The beneficiary has the right to request the disclosure of the trust file, but it is best to treat this right as an exchange of the court's inherent jurisdiction. , the court supervises and intervenes in trust management as appropriate.


Law Reference

Section 11c of Chapter 76 of the Trust Recognition Ordinance


Court Case Reference

Beneficiaries' rights to trust information in the light of Schmidt v Rosewood Trust Limited

Case Study 04 - Save hassle to apply for Grant of Probate

Background

If there is a Will, the Registry would validate the Will and issue a legal document called the 'Grant of Probate'. One of the reasons is to prevent someone from forging the will. Usually it takes a long time to receive it before having access to the assets. Hence, the family may not be able to meet the immediate financial needs, such as mortgage payment, children's living expenses and school tuition fees, family living expenses, etc.


Benefit of Trust

Clients can consider a testamentary trust to arrange Hong Kong properties to be transferred to the trust after the client passes away without paying stamp duty. Trustee can also facilitate the family’s (if beneficiary to trust) immediate needs.


Law Reference

Section 2a of Chapter 76 of the Trust Recognition Ordinance


Court Case Reference

Late tycoon Nina Wang’s charitable foundation files bankruptcy petition against former ‘lover’ Peter Chan, jailed for forging her will

Case Study 05 - Succession Planning

Background

Anita Mui was a popular Hong Kong singer and actress making major contributions to the Cantopop music scene. She had set up a trust fund that had prevented her mother and elder brother from misusing her inhe­ritance by providing them monthly allowance.


Benefit of Trust

Beneficiaries are chosen by the settlor and the list of beneficiaries can always be amended. Distribution of assets can be done in different ways. For instance, one-off distribution and regular distribution can be selected. Settlor may even set conditions in the distribution of assets over time.


News Reference

Pop diva Anita Mui's mother to get allowance from trust
Anita Mui’s mum gets RM130,000 for party

Our Real Case 01

Background

Emily, 45 years old, runs an online cosmetic shop for many years. She has 3 offices in Hong Kong, Zhuhai and Shenzhen with staff of around 20. She was divorced two years ago. She is now living with her son of 5 years old and her mother. She gained reputation by word of mouth, now her shop has over 50,000 members. The business brings her monthly revenue of about HK$200,000, and can be up to HK$400,000 during peak season. She accumulates her wealth to HK$5,000,000 which includes stocks and cash. She recently is in love with a gentleman while concerning the consequences of her wealth and child if someday she gets married and the marriage ends up unwell.


Solution from UniTrust:

  • Set up a private trust for Emily for asset protection and estate planning.
  • Manage her assets with our platform, allowing her to trade and transfer freely
  • Manage her securities account, assist for to trade stock without any delay
  • UniTrust’s solution solves all problems for Emily and are able to meet her needs
Our Real Case 02

Background

Mr Xu is 40 years old, holding a HKID card and PRC passport. He has lived in Hong Kong with his wife for over 10 years. He is an IT expert working in a multinational company. His work hour is long, sometimes he works until mid-night. They are financially independent. He has a high interest in trading of stock. His accumulated wealth is around HK$12M. He seeks for asset privacy and a platform allowing him to have fund flow flexibility.


Solution from UniTrust:

  • Set up a custodian trust for Mr Xu
  • Trustee acts according to his instruction to transact crypto or stock trading
  • Monthly statement is available for Mr Xu to view his assets and trade history via our online platform
  • The Trust structure provides a certain level of asset protection to benefit his wife as beneficiary of the trust
  • Mr Xu can freely enjoy one platform to fit his investment goal
Our Real Case 03

Background

Mr Yeung is a business owner. He is 55 years old, while his wife is a housewife, 40 years old. They both are Hong Kong tax residents. They have two daughters at the age of 10 and 12 living in Hong Kong as well. He owns a factory in Guangzhou and a trading company in Hong Kong. His wealth is around HK$40M consisting of properties, stock and cash. He is a frequent traveler but due to Covid-19, he is compelled to stay in Hong Kong. Last year, he was diagnosed with stroke. He is worried that his wife has no experience to manage the wealth if he has any accident one day. Therefore, Mr Yeung seeks for UniTrust service to provide wealth planning solution to solve his concern.


Solution from UniTrust:

  • Set up a private trust for Mr Yeung for succession planning. Mr Yeung is the Settlor, his wife is the Protector and the Beneficiaries are his wife and two daughters
  • Work with a lawyer to prepare a Will for Mr Yeung. The properties will transfer into the trust once Mr Yeung demises. This avoids the payment of stamp duty on transfer of ownership in the current stage
  • Arrange bill payment for his company so as to ease his administration burden
  • Maintain his securities account to let Mr Yeung focus on his business
  • Arrange for remittance to assist the salary payment to his employees in China
  • UniTrust provides one-stop solution to fix Mr Yeung’s various concerns