Macau Trust Law Law No. 15/2022 on December 1, 2022.
jan26 AMCM Não usado To provide a legal foundation for financial institutions to carry out wealth management business involving trust arrangement, the Macau SAR Government enacted Law No. 15/2022 (the Trust Law), which came into force on December 1, 2022. This Law sets out the general system and fundamental principles of the trust arrangement in Macao, and outlines the rules for the concept of trust, its constitution, trust property, the requirements and obligations of trustees, and the protection of beneficiaries. The enactment of the Law represents a significant breakthrough for Macao's legal system. The Law provides a legal foundation for the long-term development of wealth management business, and will help faciliate Macao financial institutions to develop competitive financial services and wealth management products. Besides, it can attract more overseas clients, particularly high-net-worth ones, to choose managing their assets in Macao, thereby fostering the development of Ma...