Singapore has a complex legislation regulating trusts and offering trust services which is why 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. The laws covering trust services in Singapore are:
The last law enumerated above establishes the legal requirements to set up a trust company in Singapore. Our specialists in Singapore can provide with detailed information about the laws on trusts and trusts services.
The city-state, through its legal framework, offers numerous advantages to those setting up trusts here. Among these advantages are:
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.
Trust companies can carry out the following activities:
Among the services a Singapore trust company can provide are:
Our consultants in company formation in Singapore can assist foreign entrepreneurs who want to open a trust service company here.
Another reason for setting up a trust company in Singapore is the fact that there are several exceptions from the trust business license:
For more information about reasons to start a trust services company here, do not hesitate to contact our Singapore company formation agents.