If you would like to set up a Singapore Private Trust Company (PTC) in Singapore, you should first learn what it is all about. In a gist, PTC is a form of trust that is available to clients who would like their family members to be involved in the management of the family trusts for several generations. Typically, the PTC would be considered where the family wealth is substantial.
What is PTC?
PTC is a structure that could be suitable alternative to the traditional trust form. In the PTC, the settlor might be more comfortable in shifting his assets into a special purpose vehicle where it is his family members that can be “owners” or the legal shareholders. The shareholders can be the same people as the beneficiaries, but may not be so. Conceptually the Singapore PTC is similar to PTCs allowed in some offshore jurisdictions, to give broader breath and scope to the trust industry in Singapore.