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Collas Crill

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Grand Cayman, Singapore, St Helier, St Peter Port, Tortola

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Collas Crill promotes Channel Islands trusts to 400+ experts in Singapore

November 2011

Monday, November 14, 2011 

Collas Crill stood alongside both Channel Islands' finance bodies to promote Jersey and Guernsey fiduciary services at a Singapore conference at the start of November.

And the firm, which opened the first and only office to offer Channel Islands law in Singapore just three months ago, has also announced its imminent expansion in the country.

More than 400 trust professionals from all over the world attended the over-subscribed event organised by STEP - the Society of Trust and Estate Practitioners - on 1 and 2 November and enjoyed a gala dinner sponsored by Collas Crill.

An emerging wealth management centre,Singapore is one the top international hotspots for high-net-worth individuals. The conference theme was Trusts, Families & Business - An Asian Focus.

Collas Crill opened its Singapore office on 1 August to enable Asia-based private clients, institutions, advisers and intermediaries to access Guernsey and Jersey legal services in their own time zone and on their door-step.

Collas Crill Singapore is headed up by Sean Cheong, who moved from Guernsey earlier this year. 

Sean said: "We have been warmly received by the international and local finance community, who welcome the offshore legal expertise that we bring to Singapore, even though it is already well served by professional firms. We can provide real-time access to Guernsey and Jersey legal expertise and this differentiates us from all other firms. Our presence at STEP this year reaffirms our commitment to Singapore and this region generally."

"We've seen a great deal of interest in the wealth planning structures both Channel Islands have to offer," said joint senior partner Nuno Santos-Costa, who attended the conference as a member of the Collas Crill team, together with Marcus Hinkley, Collas Crill's head of fiduciary.

"Many of the lawyers and financial services providers we met at STEP Asia were extremely enthusiastic about the idea that the Channel Islands' range of trust and related services could prove attractive to their clients."

Marcus explained that "the Channel Islands are attractive because they are perceived as stable, safe and highly reputable. Many advisers and potential clients now recognise that the relatively high level of regulation in the islands is also extremely positive. There is interest in the trust offerings of both Channel Islands, and our experience from our first three months in Singapore, and particularly at the STEP conference, is that there is particular appetite for Jersey Foundations, not least for holding family businesses for which trusts may not be entirely suitable."

STEP presented a unique opportunity to bring together the islands' respective promotional agencies, Guernsey Finance and Jersey Finance, who have, over a number of years provided support to Channel Islands' firms looking to develop their businesses in Asia.

Nuno said: "Our presence in Singapore enables us to promote the Channel Islands as a whole rather than Guernsey or Jersey separately and so we were delighted to host representatives from Jersey Finance Limited and Guernsey Finance, and to thank them for their ongoing support.

"It is clear that there are many opportunities for the Channel Islands in Asia and Collas Crill already has plans to expand our Singapore based team in the very near future."

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