Why Open a Trust Services Company in Singapore?
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Transcript of Why Open a Trust Services Company in Singapore?
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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 [email protected]
www.opencompanysingapore.com10