Licensed trust companies are regulated by the Monetary Authority of Singapore. You can use MAS’ directory of financial institutions to find a suitable licensed trust company in Singapore.
But look no further, Phillip Trustee Pte Ltd has the license to conduct the business. As a representative of Phillipcapital, I can direct you in setting up a trust for your needs and objectives.
A trust is a business structure that doesn’t have an owner or owners in the traditional sense. The trust imposes an obligation on the trustee – a person or a company – to hold and operate the business assets for the benefit of others, the beneficiaries.
Since I hold the fund management license, I can be appointed as investment manager of the trust assets.
In Singapore, Trusts created on or after 15 December 2004 can continue for a maximum period of 100 years. Subject to this new statutory rule against perpetuities, the duration of a trust is otherwise determined: According to the provisions in the trust deed.
An irrevocable trust allows you to minimize estate tax, protect assets from creditors and provide for family members who are under 18 years old, financially dependent, or who may have special needs.
Protection from creditors is the single biggest reason why people buy property under an irrevocable trust. Given that the property no longer forms part of the assets of the Settlor (i.e. the person who creates the trust), this means that property will be protected from any bankruptcy proceedings against the Settlor.
The trustee holds the trust property for the benefit of the beneficiaries. Separation of ownership interest and beneficial interest is done via the irrevocable legal trust.
Trusts have undeniable benefits for wealth management and asset protection. In Singapore, legal trusts are well regulated. Individuals and families can create trusts and have peace of mind that their assets are in capable hands and protected by a well-established common law and statutory framework.
- Experienced and Qualified Portfolio Manager – Access to various geographical regional markets and asset classes (direct fixed income) with insights to companies and deep understanding of Macroeconomics who will assist you in your investment goals. CFA Charter obtained in yr2015.
- Human touch – Isaac embraces the design driven innovation approach, evidenced in his FDM (Facilitating Decision Making) White Paper. A hyper focus on what is meaningfully relevant to you, is assured.
- Investment Direction – Through the letter of wishes, you may direct and influence your investment.
- Securing Your Wealth for Generations – The Trust Structure ensures a safeguard for your wealth, providing a peace of mind for you and your beneficiaries.
- Seamless distribution of Trust Assets – No probate process required.
- Flexibility in Asset Distribution – Freedom to customize the distribution timing of your assets. Tailor distributions to align with your financial goals and family dynamic.
- Transparent Fees – A basic, standard and straightforward product at an affordable price.
Other Services Offered via Phillip Trustee Pte Ltd
As a representative of PhillipCapital, access to a wide range of services are available such as the following:
- Living Trust
- Standby Trust
- Private Trust Companies (PTC) – exempt from MAS licensing, PTC acts as trustee for family connected living trust(s)
- Escrow Agent
- Trust with charitable purposes
- Custodian trustee that undertakes the safe custody of assets
- Trust created in connection with issuance of debentures
- To hold (as bare trustee) stocks/securities deposited with CPD on behalf of sub-account holder
- Trust that is created to hold or administer any collateral given to secure any liability in connection with the granting of any credit facility, advance or loan. (This gets interesting)
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