3. How many types of trusts?

12 months ago Updated: 08 December 2022 Credit source:

There are four types of trust defined based on trust purposes: (i) Commercial Trust is a trust created with the purpose of gaining profit for the benefits of trustor or any specified individual determined by such trustor. The commercial trust may include pension, education foundation, depositary services, or employee stock option plan. (ii) Public Trust is created for the benefits of Cambodian people in general which include the development of a bank or micro-finance, or for other public benefits whereby the relevant trust regulator appoints any trustee to safeguard the trust fund pursuant to the trust deed. (iii) Social Trusts is created when a trustor donates his/her property to a trustee for the benefits of society, with the purposes of culture, education, humanitarian, religion or science. (iv) Personal Trust is created for the benefits of trustor or specified individual whereby trustor is individual who donates his/her property or fund to trustee for the benefit of his/her own or someone else, or the transfer of trustor’s property/fund.