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