The Asian associate of JTC, a Jersey-headquartered private and institutional client service provider, will be able to enhance its offering with the new licence.

Kensington Trust Group has secured a licence from the Monetary Authority of Singapore to conduct trust business in the city-state.

JTC established a strategic association with KTG in 2013, giving it a platform to provide corporate, trust and cross-border structuring services to clients across Asia through its teams in Singapore, Hong Kong, Labuan, Malaysia and New Zealand.

In Singapore, KTG already provides corporate services, implements cross-border structures and has locally resident directors for Singapore-incorporated companies. The new development means it can offer clients Singapore-specific fiduciary solutions.

“Singapore is justifiably perceived as the leading trust jurisdiction in Asia and one of the most popular and credible international financial centres in the world,” said Linda Wong, managing director and co-founder of KTG, and chairperson of STEP Singapore. 

“Given JTC Kensington’s continued dedication to expansion in Asia, we are confident that obtaining this licence will prove to be a pivotal moment in our long-term growth.”