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 company formation in Singapore can provide with detailed information about the laws on trusts and trusts services.
The reasons for which one should open a company in Singapore as a trust services company are also presented in the video below:
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 can assist foreign entrepreneurs who want to open a company in Singapore as a trust service company.
Another reason for opening a company in Singapore as a trust company is the fact that there are several exceptions from the trust business license:
For more information about the reasons to start a trust services company here, do not hesitate to contact our Singapore company formation agents.