A private Trust company is a specialized company formed only to act as a Trustee. A Trust company may require special permissions in certain jurisdictions to act as a trustee. On the other hand, it can work as a trustee for multiple trusts as per the needs.
A trust company is now preferred as an individual trustee as it protects the identity of the trustee as well as providing continuity in the management of the trust assets which may not be possible with individual private trustees. A Trust company requires the appointment of directors who will also act as the controllers for the Trust and any suitable individual may be appointed for the purpose.
Among the various destinations that we offer for opening trust companies, Nevis is commonly preferred owing to the ease of company formation and the strict privacy rules in the country. Further, companies also do not require any special registrations or permits to act as Private Trust companies here.
No designation has been made by the Texas Board of Legal Specialization for a Certificate of Special Competence in this area.