Trust company

A trust company is a corporation, especially a commercial bank, organized to perform the fiduciary of trusts and agencies.

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Licensing Requirement for Trust or Company Service Providers

With effect from 1 March 2019 (the “Commencement Date”), Trust or Company Service Providers (“TCSPs”) are required to apply for a licence from the Registrar of Companies (the “Registrar”) to carry on a trust or company service business, and to comply with statutory customer due diligence (“CDD”) and record-keeping requirements.

The relevant legislation is contained in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2019, which amends the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Cap 615) (the “AMLO”). The AMLO, as amended, extends CDD and record-keeping requirements to designated non-financial businesses and professions (which include solicitors, professional accountants, real estate agents and TCSPs) when they engage in certain businesses and transactions, such as trust or company service business, and requires TCSPs to be licensed for this purpose.

document required for PF Registration - For Employers

identity proof of Proprietor

  • PAN for indian nationals, notarised passport copy for foriegn nationals

address proof of Proprietor

  • passport, driving licence, aadhar card, bank statement, the document must be valid, recent and less than 2 month old.

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