Why Open a Trust Services Company in Singapore?

Why Open a Trust Services Company in Singapore?A presentation brought to you by OpenCompanySingapore.com

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Trust Legislation in Singapore

• The first legislation on trusts in Singapore dates back in 1967 when the Trustees Acts was enforced. 

• Singapore has various legal frameworks in order to legalize and allow locals and foreign citizens to set up trusts here.

• Other laws regulating the establishment of trusts in Singapore are the Trust Companies Act, the Business Trust Act and the Civil Law Act.

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Trust Services in Singapore

• Given Singapore has a complex legislation regulating trusts and offering trust services, the city-state has become an important wealth management center.

• In the last few years, Singapore has modernized its legislation so trust companies provide a large number of services. 

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Why Set Up a Trust in Singapore? >>

• The city-state, through its legal framework, offers numerous advantages to those setting up trusts here.

• Among these advantages are:

confidentiality;

protection against forced heirship demands;

the possibility to appoint trustees to oversee the trust;

no capital, estate and inheritance taxes.

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>> Why Set Up a Trust in Singapore?

• Additionally, foreign investors setting up trusts in Singapore can also benefit from the city-state’s double tax treaties which offer further tax benefits.

• These are a few of the reasons the number of trust services companies has risen in Singapore.

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Activities of Trust Services Companies in Singapore

• Trust companies can carry out the following activities:

create of trusts;

act as trustees;

appointing trustees;

offer trust administration services.

•  Our specialists in company formation Singapore can provide detailed information about trusts services.

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Services Provided by Singapore Trust Companies

• Among the services a Singapore trust company can provide are:

drafting and advising on documents related to the trust;

offering tax advice;

registering companies to hold assets on behalf of the trust;

distributing assets;

revising and monitoring the trustees;

opening bank accounts for the trust.

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Reasons to Open a Trust Services Company in Singapore

• A good reason for setting up a trust company in Singapore is the fact that there are several exceptions from the trust business license:

private trust companies;

 accountants and lawyers;

foreign citizens providing trust services in Singapore;

trustees of collective investment schemes;

individuals undertaking introducing activities.

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Company Registration Services in Singapore

• For assistance in opening a Singapore company, do not hesitate to contact our local company formation experts.

• You can also rely on us for opening a trust services company in Singapore.

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Thank you for your attention!

For more information, please contact us at:

+ 852 8191 3385office@lawyers-singapore.com

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