Ark Trust Singapore Wins MAS Trust License
On December 8, Ark Trust (Singapore) Ltd. ("Ark trust Singapore"), a wholly-owned subsidiary of Noah Holdings (NYSE:NOAH) has been granted the Singapore Trust Business License by MAS (Monetary Authority of Singapore). Prior to that, Noah Singapore Ltd. had obtained the Capital Market Services License issued by MAS in March 2020.
According to Noah’s 3Q20 financial report, its overseas business network currently covers Hong Kong, Jersey Island(British), New York, Silicon Valley, Vancouver, Melbourne, Singapore, and other countries and regions. Its business scope covers diversified services including private equity investment, real estate investment, public securities investment, family office, and discretionary portfolio management.
According to the 2019 Global Financial Center Index, Singapore is ranked as the fourth most competitive financial center in the world, and has become a strategic hub for global investors to enter the rapidly growing and developed markets in APAC, Europe, and the United States.
Founded in 2020, Ark Trust Singapore is a wholly-owned subsidiary of Noah Holdings.
"Noah has always adhered to the client-centric principle," said Liu Yan, CEO of Noah International,” In the past decade, the demand of China's high net worth clients has shifted from wealth creation to wealth preservation and inheritance. As one of the most important solutions to inheritance, family trust has seen increasing acceptance.”
Noah Holdings currently holds three overseas family trust licenses. In addition to Singapore, it also obtained family trust licenses from Hong Kong in 2014 and from Jersey Island in 2016.
In the past few years, Noah’s Family Trust practice continuously focuses on value creations for client’s inheritance needs. “Noah has served more than 200 family trust clients with a total asset exceeding USD 30 billion. I believe that more and more clients will choose Noah as the professional institution to serve their family inheritance needs,” added Yan.