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HMRC internal manual

Money Laundering Regulations: Registration

Trust or Company Service Providers (TCSPs): What is an 'Express Trust'?

An express trust is an arrangement where there is a clear and expressed intention to create a trust. It is usually created by a written document (a trust deed).

In a trust, ownership is divided between the trustees and the beneficiaries: the trustee is given the legal title to the property which gives them the duty to manage and control the property, for the benefit of the beneficiaries who are exclusively entitled to the benefit of the property. A trustee can also be a beneficiary of the trust.