Legal Templates
Nominee Declaration Of Trust

Nominee Declaration Of Trust Template for Singapore

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Key Requirements PROMPT example:

Nominee Declaration Of Trust

"I need a Nominee Declaration of Trust for my Singapore company to hold shares in a tech startup on behalf of an overseas investor, with specific provisions for digital voting rights and quarterly reporting requirements to be implemented by March 2025."

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What is a Nominee Declaration Of Trust?

The Nominee Declaration of Trust is a crucial document in Singapore's legal and business landscape, particularly used when there's a need to separate legal and beneficial ownership of assets. This arrangement is commonly implemented for confidentiality, administrative efficiency, or regulatory compliance purposes. The declaration explicitly states the nominee trustee's role in holding assets on trust for the beneficial owner, outlining the scope of the trustee's powers and the beneficial owner's rights. Under Singapore law, this document must comply with the Trustees Act and related legislation, providing clear evidence of the trust relationship and protecting both parties' interests.

What sections should be included in a Nominee Declaration Of Trust?

1. Parties: Identifies the nominee trustee and beneficial owner

2. Background: Sets out the context and purpose of the nominee arrangement

3. Definitions: Defines key terms used in the declaration

4. Declaration of Trust: Core declaration confirming the nominee arrangement

5. Trust Property: Detailed description of assets held in trust

6. Trustee Powers and Duties: Specifies the nominee's obligations and authority

7. Beneficial Owner's Rights: States the beneficial owner's entitlements and control

8. Governing Law: Confirms Singapore law governs the arrangement

What sections are optional to include in a Nominee Declaration Of Trust?

1. Remuneration: Terms of payment for nominee services - include when nominee trustee charges fees

2. Termination: Conditions for ending the arrangement - include when specific termination provisions are needed

3. Indemnification: Protection clauses for the nominee - include when additional trustee protection is required

4. Confidentiality: Privacy obligations - include when specific confidentiality provisions are needed

What schedules should be included in a Nominee Declaration Of Trust?

1. Schedule of Assets: Detailed list of trust property

2. Powers of Attorney: Any related POAs granted to nominee

3. Corporate Documents: Relevant company documents for corporate nominees

4. Fee Schedule: Details of nominee fees if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Industries

Trustees Act (Chapter 337): Primary legislation governing the appointment, duties, and powers of trustees, trust administration, and statutory duties of trustees in Singapore

Trust Companies Act (Chapter 336): Regulatory framework for trust companies and their operations, particularly relevant if the nominee is a professional trust company

Companies Act (Chapter 50): Legislation covering nominee shareholding arrangements, disclosure requirements for nominee shareholders, and corporate governance requirements

Securities and Futures Act (Chapter 289): Regulations concerning securities and financial instruments, including regulatory requirements for nominees holding securities

Income Tax Act (Chapter 134): Tax legislation covering implications of trust arrangements, reporting requirements for trustees, and tax treatment of trust income

Stamp Duties Act (Chapter 312): Legislation governing stamp duty implications for trust instruments and transfer of assets into trust

Evidence Act (Chapter 97): Legal requirements for documenting and proving trust arrangements

Registration of Deeds Act (Chapter 269): Requirements and procedures for registration of trust deeds where applicable

Common Law Trust Principles: Fundamental principles of trust law derived from common law precedents applicable in Singapore's legal system

Equity Principles: Principles of equity that govern trust relationships and trustee obligations

MAS Guidelines: Regulatory guidelines from the Monetary Authority of Singapore applicable when trust involves financial assets

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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