Fund Retention Service
We serve as enforcers of your Trust Deeds or Will.
Our role is to hold and apply trust assets on behalf of your beneficiaries, ensuring that this is done according to your wishes.
Service Fee for Trust Fund Retention
| Fund Amount (USD) | 1 Year Quote | 3 Year Quote | 5 Year Quote | ||
|---|---|---|---|---|---|
| < 300K | $210 | $350 | $1,050 | ||
| > 300K < 1$Million | $370 | $617 | 0.062% | ||
| > 1$Million < 5$Million | 0.037% | 0.062% | 0.185% | ||
| > 5$Million | 0.035% | 0.058% | 0.175% |
Important Note
- Fee charge for drafting trust deed is $ 500-$ 1,000.
- Fees excludes a 10% VAT and other associated taxes and fees including trust registration fees.
- Fees are subject to change without prior notice.
Fund Management Process
Trusteeship Consulting
Our trustee advisor will
provide:
- A company brochure.
- Information on service procedures.
- Fee quotation.
Pre-trusteeship Service
(5 Working Days)
Our pre-trustee service requires:
- A sign-off on the application form.
- ID or passport of individual trustors.
- The company’s board/shareholder resolution, M&A, patents, certificate of incorporation and company extract.
- A negative report stops the process, while a positive report brings us to the next step.
Enter Trust Agreement and Proceed with Trust
(3-5 Working Days)
A trust agreement is entered by the customer and Phillip Trustee to establish a trust fund.
The customer is required to
make a transfer to the trust
fund under Phillip Trustee’s
company bank account,
Phillip Bank.
In proceeding with the trust,
the terms of payment for the
service are agreed upon.
The customer has to create a
trust sub-account under the
Trustee main account.
The Trustee is to coordinate
the trustor’s documents and
submit them to the bank to
apply for an account.
The trustee is to sign on the sub
-account opening form on behalf
of the trustor.
100% of the Trustor’s fund
will be deducted.
Trust Registration
The trust should be registered
with the Trust Regulator (TR)
within 3 months after the date
of establishment in order to be
valid.
