fiduciary services in singapore
TRANSCRIPT
Fiduciary Services in Singapore
A presentation brought to you by Lawyers-Singapore.com
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The Term Fiduciary in Singapore
• The term “fiduciary” comes from the Latin fiducia, which means trust.
• In Singapore, in general terms, a fiduciary is a person in charge with the management of assets.
• A fiduciary can also be seen as a representative with the main duty of acting in the best interest of a person, a group of persons, or even of a company.
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Who Can Offer Fiduciary Services in Singapore?
• Companies and lawyers in Singapore are allowed to provide a wide range of fiduciary services to local and foreign investors.
• Foreign investors will benefit the most from the fiduciary services provided in Singapore, especially if they are not familiar with the business climate in the city-state.
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Fiduciary Services Available in Singapore
• Whether you want to maintain the privacy of their identity or just appoint a trustee to conduct their business operations, here are few fiduciary services available in Singapore:
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nominee shareholder services;
nominee director services;
nominee secretary services;
trustee services;
accounting services.
Corporate Fiduciary Services in Singapore >>
• According to the Companies Act in Singapore, all companies are required to have at least one natural or corporate shareholder.
• Considering that the legislation allows the incorporation of onshore and offshore companies in Singapore, one may appoint a fiduciary nominee shareholder for any type of company in order to preserve corporate privacy.
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>> Corporate Fiduciary Services in Singapore
• The main role of the fiduciary nominee shareholder in Singapore will be to hold the beneficial owner’s shares in trust and to be identified within the Companies Register.
• The nominee shareholder will be appointed by signing a Declaration of Trust through which the fiduciary engages to hold the shares on behalf of the beneficiary and return or transfer them as accorded.
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Other Nominee Fiduciary Services in Singapore >>
• One of the key roles in a company is assigned to the secretary by the Singapore Corporate Governance Code.
• However, the company secretary must be a Singapore resident, which is why it is advisable to appoint a Singapore law firm or agent to act as company secretary.
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>> Other Nominee Fiduciary Services in Singapore
• Among the fiduciary nominee services provided by our lawyers in Singapore are:
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keeping and updating the company’s registries;
file all required documents with the Singapore Trade Register in a timely manner;
bank account opening in Singapore.
Assistance in Opening a Company in Singapore
• If you want to set up a company and need advice on the right type of company to register please contact our law firm in Singapore.
• Our Singapore lawyers also provide nominee shareholder and director services to foreign investors.
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Thank you for your attention!
For more information, please contact us at:+ 852 8191 3385
www.lawyers-singapore.com
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