About
Sovereign’s Private Client services have been developed to assist internationally mobile families and entrepreneurs to structure their assets in a way that will help to grow their wealth now and preserve it for future generations. Our founding vision was to create an independent trust company that balanced competitiveness with the maintenance of best professional practice to deliver secure, efficient wealth and succession planning.
Sovereign also has experience in setting up family offices and Variable Capital Companies in Singapore, applying for tax incentives and assisting with the regulatory process and ongoing accounting and taxation requirements.
If you are also looking to set up a company in Singapore please look at our Corporate Services section.
Singapore Trust Services
Trusts have been used a way of holding and managing assets in English common law jurisdictions for hundreds of years. Unlike corporate vehicles, the lack of rigid formal requirements for the creation and operation of trusts, and the tremendous flexibility of trust instruments, mean they can be highly effective structures in a number of personal and commercial contexts.
Although many of the tax benefits that were associated with trusts have been eroded in recent years by anti-avoidance legislation, they still offer great advantages – particularly for individuals who are changing, or planning to change, their domicile, residence or citizenship; those with families resident abroad; those seeking asset protection; and those whose principal motivation is not to avoid taxation but to dispose of their estate on death freely and without recourse to a lengthy and expensive probate procedure.
Singapore Family Office
There are about 200 Single Family Offices (SFOs) in Singapore and the number has grown in recent years, Tharman Shanmugaratnam, Senior Minister and minister in charge of the Monetary Authority of Singapore (MAS), told the Singapore parliament on 5 October.
He said the MAS did not have hard data on the scale of their operations because SFOs do not manage third party monies and are therefore not registered with or licensed by MAS. However, industry research estimates that each SFO typically manages assets in excess of US$100 million, so total assets under management by SFOs could be around US$20 billion. Read more
Latest News
Please contact us if you have any questions or queries and your local representative will be in touch with you as soon as possible.
