BCS Products | Private Trust Companies
With the passing of The Bank & Trust Companies Regulation (Amendment) Act, 2006 and The Banks & Trusts Companies (Private Trust Companies) Regulations, 2007, a new private wealth structure, the Private Trust Company (PTC) was added to the suite of wealth management product offerings available here in The Bahamas.
A PTC is a company formed for the express purpose of acting as trustee of a specially designated trust, or group of related trusts. Its advantages include greater control, influence, privacy, continuity, flexibility and cost efficiency. Hence, it is an ideal tool for wealthy families to use in succession planning for current and future generations.
The PTC must have a registered representative which provides the services of Secretary, Director or Bahamas Agent