A New Guide for Setting up Private Trusts in Singapore Released by GuideMeSingapore.com
Singapore's leading business information portal has released a comprehensive guide for creating private trust structures in Singapore that describes the benefits, challenges and procedures for such trusts.
SINGAPORE, March 4, 2013 /PRNewswire/ -- Individuals who are exploring trust-based wealth management solutions can now obtain comprehensive information about Singapore's trust framework. A new series of guides on a) Singapore trust law and setting-up private family trusts( http://www.guidemesingapore.com/incorporation/topics/singapore-trust-setup ) and b) the benefits of Singapore as a trust jurisdiction( http://www.guidemesingapore.com/incorporation/topics/singapore-private-trust-benefits ) have been released by Singapore's leading business information portal - GuideMeSingapore.com. The guides were released in response to a growing interest in such structures from clients who wish to manage their assets and plan an order transfer of their wealth to their families.
Trusts are versatile vehicles for holding and managing assets. The guides explain the concept of trusts and the applicable Singapore laws without the use of complicated legal jargon, and outline the main features that should be considered by any individual who is considering setting up a private family trust. The first guide should be read in conjunction with the second guide that explains the benefits that Singapore has to offer for locally domiciled trusts and that have attracted a growing number of wealthy individuals to the country.
The country's booming wealth management segment is supplemented by a trust industry that is supported by attractive tax laws( http://www.guidemesingapore.com/taxation/topics/singapore-tax-rates ), strong confidentiality laws, and a modernized trust regulatory framework( http://www.guidemesingapore.com/industry-guides/trust-industry/singapore-trust-services-business-setup ). Not only is Singapore ranked #1 for its ease of doing business (as published by the World Bank's 'Doing Business 2013( http://www.doingbusiness.org/%7E/media/GIAWB/Doing%20Business/Documents/Annual-Reports/English/DB13-full-report.pdf )' report), it is also renowned as one of the top jurisdictions for its ease of establishing a trust.
"With a globally integrated financial industry, anyone with substantial wealth should take a global perspective for managing their assets in the most efficient manner," observes Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a leading Singapore business registration services( http://www.guidemesingapore.com ) firm and the parent company of GuideMeSingapore.com. "Trust structures are tried and tested vehicles for wealth planning that have their roots in the Middle Ages. With proper planning, a trust structure can preserve an individual's wealth so that it is protected from creditors, potential claims in bankruptcy, hostile regulatory action, and forced inheritance; they are also a useful tool for planning orderly transition of assets to future generations."
"In Singapore, the high net-worth population is increasing dramatically, and the trust industry here is growing to respond to increased demand from this demographic segment. Singapore's trust framework and its reputation as an international financial centre make it an ideal choice for wealthy individuals looking to establish family trust arrangements," concluded Ms. Low.
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, private trust setup facilitation, immigration, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemesingapore.com.
For media queries, please contact:
Jacqueline Low
Chief Operating Officer
Janus Corporate Solutions
+65-6222-7445
[email protected]
SOURCE　Janus Corporate Solutions Pte Ltd