Private Trust Company (PTC) setup — Complete 2026 guide
Private Trust Company (PTC) setup — Complete 2026 guide. This guide is for high-net-worth families and family offices seeking to establish a Private Trust Company in Singapore. It explains what private trust company is, who it applies to, the eligibility and process, the costs and timeline, the common mistakes to avoid, and where it fits inside the wider Singapore framework. All figures are practitioner-grade and aligned to current statute and regulator guidance.
Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
What is private trust company?
A Private Trust Company (PTC) is a Singapore-incorporated entity established to act exclusively as trustee for trusts whose beneficiaries are connected to a single family. The PTC structure allows founders to retain meaningful influence over trust administration while ringfencing trustee liability inside a regulated corporate vehicle.
Who private trust company is for
PTCs are typically used by families with consolidated wealth above S$50 million, by founders preparing for an eventual liquidity event, and by families holding operating businesses across multiple jurisdictions. The structure also suits families where a professional trustee mandate is impractical due to the complexity, illiquidity or family-sensitivity of the trust assets.
Eligibility and requirements
- A Singapore-incorporated company with at least one Singapore-resident director under section 145(1) of the Companies Act 1967.
- Trust administration services delivered by a Singapore-licensed trust company under section 15 of the Trust Companies Act 2005.
- Settlor and trustee documentation aligned with MAS Notice TCA-N03 on anti-money-laundering and countering financing of terrorism (AML/CFT).
- An exempted status registration with the Monetary Authority of Singapore if the PTC trades exclusively for related family trusts under regulation 4 of the Trust Companies (Exemption) Regulations.
Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
Cost and timeline for private trust company
The total cost depends on the complexity of the matter and whether external advisers are engaged. Indicative ranges in S$ are set out below.
| Item | Indicative range |
|---|---|
| Incorporation of the PTC (ACRA) | S$315 |
| Initial paid-up capital (recommended) | S$10,000–S$50,000 |
| Licensed Singapore trust company administration | S$30,000–S$80,000 per year |
| MAS exempted PTC registration filing | S$0 (notification basis) |
| Annual statutory audit (where applicable) | S$8,000–S$25,000 |
| Trust deed drafting and review | S$15,000–S$60,000 one-time |
Timeline: 10–18 weeks from instruction to first trust funding. For complex multi-jurisdictional matters, factor in additional weeks for legal opinions in the other relevant jurisdictions.
Step-by-step process
- Settle the family structure chart and identify which family members fall within the connected-person definition.
- Engage a Singapore-licensed trust company to act as administrator for the PTC.
- Incorporate the PTC with ACRA, with a constitution that restricts the PTC to acting as trustee for connected-family trusts only.
- Notify the Monetary Authority of Singapore of the exempted status under regulation 4 of the Trust Companies (Exemption) Regulations.
- Draft and execute the trust deed, lifting the licensed trustee's standard terms only where appropriate.
- Establish the bank account, custody, investment management and tax reporting workflows.
- Establish the family governance overlay — protector, investment committee and family charter.
For related governance and tax considerations, see our broader guide on Singapore Supplementary Retirement Scheme (SRS) for EP Holders and PRs: A 2026 Tax Planning Guide and the deeper-dive piece at Singapore trust structures for HNW families — Complete 2026 guide. For the cross-site perspective, see Winding Up a Singapore Company on Just and Equitable Grounds Explained.
Common mistakes to avoid
- Treating the PTC as if it were a licensed trustee in its own right and pitching for unrelated mandates — this strips away the exempted status.
- Failing to map the connected-person definition rigorously so step-children, in-laws and trusts of cousins fall outside the exempted scope.
- Drafting the trust deed without considering substance-over-form challenges under section 33 of the Income Tax Act 1947.
- Underestimating the AML/CFT documentation burden on the licensed administrator — onboarding takes 8 to 14 weeks.
- Forgetting to update the family charter when generations shift — the PTC outlives the founder and needs governance updates.
Where private trust company sits in the wider Singapore framework
Private trust company interacts with several adjacent Singapore regimes. Personal tax and treaty considerations are covered in our cross-site article on Singapore Supplementary Retirement Scheme (SRS) for EP Holders and PRs: A 2026 Tax Planning Guide. Corporate-secretarial mechanics are detailed in Winding Up a Singapore Company on Just and Equitable Grounds Explained. Reading these alongside the present guide gives the rounded picture.
The relevant Singapore regulators publish authoritative guidance on this area — see mas.gov.sg and iras.gov.sg for the current rule positions.
FAQs
Does a Singapore PTC need a MAS licence?
Generally no, where the PTC acts solely as trustee for trusts whose beneficiaries are connected to a single family. The PTC must rely on a Singapore-licensed trust company as administrator and notify MAS of the exempted status under regulation 4 of the Trust Companies (Exemption) Regulations.
Can the founder be a director of the PTC?
Yes. Founders, family members and trusted advisers can sit on the PTC board, subject to the residency requirement in section 145(1) of the Companies Act 1967 and the AML/CFT due-diligence by the licensed administrator.
How is a PTC taxed in Singapore?
The PTC itself is taxable as a Singapore-resident company at 17% on its trustee-services income, although those fees are usually nominal. The trusts under the PTC are taxed under Part 6 Division 3 of the Income Tax Act 1947, with foreign-sourced income often exempt under section 13G.
Can a PTC hold operating businesses?
Yes, indirectly — the underlying trust can hold operating company shares. Direct trade by the PTC would breach the trustee-only constitutional restriction and forfeit the exempted MAS status.
What ongoing filings are required?
Annual returns to ACRA, AML/CFT periodic reviews by the licensed administrator, IRAS Form C-S corporate filings for the PTC, and trust-level tax filings for each underlying trust.
Related guides
- Singapore Supplementary Retirement Scheme (SRS) for EP Holders and PRs: A 2026 Tax Planning Guide — cross-site companion guide.
- Winding Up a Singapore Company on Just and Equitable Grounds Explained — wider Singapore-secretary or fund context.
- Singapore trust structures for HNW families — Complete 2026 guide — adjacent topic on this site.
Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.