Trust Business License Singapore

The tca actually provides the framework for companies following company registration that provide various trust services in singapore and this is true even if the trusts are established in a different country or location.

Trust business license singapore. Industry specific business licenses in singapore. 61 robinson road 19 02 robinson centre 068893. Licensing authorisation and registration capital and financial resources security deposit and pii.

This regulated status in singapore complements the trust license and tcsp status trust or company service provider maintained by madison s hong kong entity madison pacific trust limited. The trust business licence will enable madison s singapore entity to take on a wide range of trust engagements and administration. Shares land cash valuables private family business etc so long as the property is in existence ascertainable and capable of being owned by an individual.

The trust business licence will enable madison s singapore entity to take on a wide range of trust engagements and administration. In order to obtain a trust business license the applicant must furnish a minimum paid up capital or qualifying assets to the tune of s 250 000. This regulated status in singapore complements the trust license and tcsp status trust or company service provider maintained by madison s hong kong sar entity madison pacific trust limited.

Provides guidance on the regulatory scope of the trust companies act including licensing and reporting requirements for licensed trust companies exempt trust companies and exempt persons providing trust services. The licence is revoked or suspended by mas in accordance with section 10 2 of the tca. Only private trust companies accountants lawyers people residing outside singapore people who carry out trust business in connection with the issuance of debentures are exempted.

A trust business license is what is required to carry out all the activities related operating a trust unless exempted from the licensing requirement. The licence lapses in accordance with section 10 1 of the tca. The framework sets up the licensing requirements for people who are conducting business involving trusts in singapore.

All entities that are holding a trust business licence to conduct trust business are listed on the financial institutions directory. Essentially a business license is a permit issued by a singapore government agency that allows you to conduct a specific type of business. Correspondingly all entities that ceased to hold a licence will be removed from the financial institutions directory.