Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Singapore is a good place to set up a trust: Asiabiz Services
  • USA - English


News provided by

Asiabiz Services Pte Ltd

Apr 22, 2014, 04:05 ET

Share this article

Share toX

Share this article

Share toX

AsiaBiz Services - Singapore company incorporation consultancy
AsiaBiz Services - Singapore company incorporation consultancy

Singapore (PRWEB) April 22, 2014 -- Singapore is a good place to set up a trust as it has recently emerged to be one of the top 4 wealth management hubs in the world, says Asiabiz Services, a leading incorporation services company. The republic offers not only a safe and stable environment to do so, but provides ample opportunities to invest and grow wealth.

Singapore’s ascent to one of the top four wealth management hubs in the world has placed it alongside traditional hubs. This in turn reinforces its good standing to service trusts.

Post this

Commenting further, Mr. James Nuben, Head of Taxation at Asiabiz Services, said, “As the word suggests, trusts naturally gravitate towards safe jurisdictions, where there is consistency in tax policies, long-term stability and an abundance of investment opportunities. Singapore offers all that and more, including a legal framework which facilitates trusts as well as licensed trust companies to be established.”

Some of the reasons to set up a trust in Singapore are as follows:

SINGAPORE TRUSTEES ACT FACILITATES WEALTH MANAGEMENT

As part of the Singapore government’s goal to boost the city-state’s position as a leading financial and wealth management center, the Singapore Trustees Act was amended in 2004 to facilitate wealth management in Singapore via trusts and trustee services.

Foreigners are encouraged to use Singapore trusts. In some cases, they are excluded from forced inheritance and succession rules, which do not allow a person to dictate who will inherit the estate. This is provided that they can do so under either Singapore law, the law of their domicile or the proper law of the transfer.

Under the Trustees Act, the reservation of a settlor’s power is permitted. This means that no trust or settlement of property on trust shall be invalid just because the settlor reserves certain powers to himself. In addition, a 100-year perpetuity period has been introduced, making the trust valid for up to 100 years unless a shorter period is specified in it.

THE TRUST COMPANIES ACT ENSURES SINGAPORE TRUST BUSINESSES ARE LICENSED, BONAFIDE

The Trust Companies Act (TCA) 2006 Revised Edition is the legislative and regulatory framework for all financial institutions that provide trust services for investment and wealth management purposes, whether the trusts are established under Singapore law or other law.

It ensures that persons conducting trust businesses in Singapore are fit and proper for their role and have Trust Business Licenses. They are also to facilitate the prevention of money laundering as well as financing of terrorism.

POLITICAL AND ECONOMIC STABILITY

The Singapore brand is associated with trust and integrity because of the political and economic stability it offers. According to Transparency International’s Corruption Perceptions Index 2013, it is the 5th least corrupt country in the world and the least corrupt in Asia. The city-state is also known for its business-friendly policies, regardless of world economic crises. Singapore has been named the easiest place to do business for 7 years running by the World Bank not without good reason.

ATTRACTIVE AND CONSISTENT TAX POLICIES

Per Deloitte's recently released 2014 Asia Pacific Tax Complexity Survey, Singapore has one of the most consistent, least complex and most predictable tax policies in Asia Pacific. This reinforces the accolades it has received to date.

In addition, with effect from 2006, under the Income Tax Act (Exemption of Income of Foreign trusts), certain income derived from Qualifying Foreign Trusts (QFTs) and Qualifying Domestic Trusts (QDT) are tax free if administered by a Singapore licensed trust company.

RESPECT FOR RULE OF LAW

According to the IMD World Competitiveness Report 2013, Singapore has a very stable and enduring competitiveness model partly due to the respect to rule of law, effective governance, political stability and reliable infrastructure.

The city-state also has an internationally-acknowledged reputation for being vigilant against illicit funds that could threaten its integrity, and cooperates extensively with global authorities e.g. the Interpol, to deter and prevent such crimes. It also implements the internationally agreed Standard for Exchange of Information for tax purposes in its tax treaties.

ABUNDANCE OF INVESTMENT OPPORTUNITIES

Singapore allows trusts to invest and offers access to world class investment management services. According to the Monetary Authority of Singapore (MAS), there are also over 500 players in Singapore’s Asset Management industry operating under various license schemes.

In addition, it revealed that assets under management (AUM) grew 22% from S$1.34 trillion in 2012 to S$1.63 trillion last year.

“Singapore’s ascent to one of the top four wealth management hubs in the world has placed it alongside traditional hubs Switzerland, London and New York, and on the radar of high net worth individuals from all over the world. This in turn reinforces Singapore’s good standing to service trusts, as a means of managing wealth securely,” affirmed Mr. Nuben.

Start your Singapore incorporation journey at http://www.asiabiz.sg/services/incorporation.

##END##

ABOUT ASIABIZ SERVICES
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include company incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides work visa and immigration services professionals wishing to relocate to Singapore.

120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614
http://www.asiabiz.sg

James Nuben, Asiabiz Services Pte Ltd, http://www.asiabiz.sg, +65 63034622, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.