Singapore Interest In Jersey Wealth Planning Structures

Since Collas Crill opened its Singapore office in August - the first Channel Islands law firm to do so - there has been a great deal of interest in the various wealth planning structures both Channel Islands have to offer.

While Singapore has its own statutory trust law, many Singapore residents seeking structure to their wealth consider it to be more constraining then enabling, and have therefore looked elsewhere.

The Channel Islands are attractive because they are perceived as safe. However it is fair to say the high level of regulation is sometimes seen as a downside because of the various processes which have to be gone through. This is because what is sought to be structured is new entrepreneurial wealth made by people who are used to making decisions quickly and being able to implement them without delay. Therefore a degree of education to realise that high regulation is a positive rather than a negative quality is important.