GuideMeSingapore Releases Guide for Setting Up a Trust Services Business in Singapore
SINGAPORE, Nov. 15, 2012 /PRNewswire/ -- Leading Singapore business information portal GuideMeSingapore.com has published a comprehensive guide on setting up a trust services business in Singapore( http://www.guidemesingapore.com/industry-guides/trust-industry/singapore-trust-services-business-setup ).
The guide outlines the regulatory requirements that need to be considered when setting up such a business. The most important of these is the Trust Companies Act, the relevant industry legislation which is administered by the Monetary Authority of Singapore (MAS). The guide discusses the scope of the Act, as well as its various mandated compliance and reporting requirements.
It also describes the prerequisites, application procedures, and exemptions for a Trust Business License. After the initial step of registering a company in Singapore( http://www.guidemesingapore.com/incorporation/company/singapore-company-registration-guide ), the firm must be licensed unless it is of a type that is specified in the second schedule of the Trust Companies Act or is otherwise exempt from the licensing requirement.
"We decided to add this topic to our large collection of online industry guides because of its relevance to the current business environment in the country," said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading Singapore incorporation, tax, and immigration services firm( http://www.guidemesingapore.com ) and the parent company of GuideMeSingapore.com.
"Well-to-do families from the US, Europe, and other Asian countries are increasingly considering Singapore for the management of their money and assets because of its stable political climate, efficient legal environment, world-class banking infrastructure, and asset-friendly policies," she explained. "Trusts have traditionally played a key role in wealth and succession planning, as they are designed to protect assets in uncertain times, offer tax efficiency, and ensure that family wealth is passed on to the appropriate people at the right time."
"Singapore has already gained the distinction of having the highest density of millionaires in the world, as well as the home of the world’s richest expatriate population," continued Ms. Low. "With demand for these services growing, and a projected influx of more HNWIs, Singapore is set to become a lucrative market for trust businesses."
About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company registration, immigration visa, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visithttp://www.guidemesingapore.com
CONTACTS:
Jacqueline Low
+65-6222-7445
[email protected]
SOURCE　Janus Corporate Solutions Pte Ltd