Certificate in International Tax Considerations for Families of Wealth
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Programme Overview
With the increasing globalisation of Family Wealth, tax considerations are integral to ensure families comply with global tax conditions to preserve wealth.
This course explores in-depth tax considerations in Singapore and across the globe, allowing learners to understand how best to advise or practice tax compliance for family offices. It covers the broad overview of existing and emerging global tax issues and obligations, and how these may impact tax-related decisions of families today (e.g., FATCA/CRS) and discusses the challenges of families with large global footprints and common trigger points that may have tax impact.
- Structure investment and succession plans with a holistic view of the tax landscape
- Highlight relevant tax developments in relation to Family Office and the Family
- Analyse and contextualise these developments to the Family’s situation and highlight where there may be a possible impact
- Make recommendations on possible tax implications referencing supporting information and sources
Total: 10 CPD hours
Core FAA CPD: 10 hours
Core SFA CPD: 10 hours
Modules
Trusts in Wealth Planning
This module provides a comprehensive overview of the wealth & estate planning industry. A good understanding of the features and characteristics of the wealth & estate planning tools and structures, applicable laws and regulations, are essential elements of a successful wealth planner. Lessons will be drawn from global industry trends and regulatory developments applied to daily work practices.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Wealth and Estate Planning: Tax
This module provides an overview of global tax regimes and how they impact the administration of trust companies in Singapore. Fundamental taxation concepts like taxation of trust, domicile and residency will be discussed. Participants will gain broad perspectives of key tax concepts and the regulations relevant to wealth and estate planning.
Total Training Duration / CPD Hours: 4
Classroom Hours: 4
Client Acceptance and Management
In this age of enhanced regulatory requirements, trust companies have to be aware of the various regulatory changes that impact the growth of the trust business. This module imparts the practical knowledge and skillsets required during the client acquisition and on-boarding process. This module also dives into the industry best practices to uncover service opportunities and develop client loyalty and confidence in the organisation.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
Arriving at the Trust Decision
Wealth planners need to have a good understanding of a client’s needs and objectives in order to provide sound advice and recommendations. This module prepares professionals to conduct meaningful evaluations of their clients’ needs using financial as well as non-financial information. Through the extensive use of complex multi-jurisdictional case studies, participants will learn key considerations in trust structuring and understand the various types of structure options and capabilities.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Trust Administration and Management
This module covers the principles and end-to-end processes involved in the administration, implementation and management of a trust. Participants will learn the relevant market laws and regulations as well as the industry best practices of organisation’s policies and procedures. This includes accounting, compliance, and methods used in the implementation and periodic performance review of the trust assets. The trustee’s fiduciary duty of care will also be discussed.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Trust Regulations and Practices
The international regulatory and compliance environment have been developing alongside the rapidly evolving industry. It is imperative for professionals in the industry to keep abreast of the latest legislative and regulatory requirements relevant to the industry, organisation, operational environment and individual roles. This module covers the emerging and changing regulatory and compliance frameworks governing estate planning and trustee services in Singapore.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
Trust Business Risk Management
This module provides an overview of the compliance, monitoring and control functions in a trust company. Critical risk areas and fiduciary duties involved in the various stages of tax operations will be highlighted. Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) will be covered. Case studies will be used to enhance the learner’s understanding and application of risk knowledge.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
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Who Should Attend
- Trust Administrator/ Manager
- Wealth Planner and Estate Planner
- Trust Relationship Managers
- Lawyer
- Family Office Advisor
- Client Advisor
- Client Relationship Managers handling UHNW and Family Office segment
- External/ Independent Asset Manager
- Financial Planner
Useful Links
Certification
Participants who successfully complete the programme will be awarded:
Fees and Funding
| Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Company-Sponsored | Company-Sponsored/Self Sponsored | |
| Application Fees | 85 | 85 | ||
| Course Fees | 6000 | 6420 | 1020 | 642 |
| TOTAL | 1105 | 727 |
Fees and Funding
| Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Singaporean Aged Below 40 / PR | Singaporean Aged 40 & Above | |
| Application Fees | 85.00 | 85.00 | 85.00 85.00 | 85.00 85.00 |
| 85.00 | 85.00 | |||
| 85.00 | 85.00 | |||
| Course Fees | 2,250.00 | 2,430.00 | 1,305.00 1,305.00 | 855.00 855.00 |
| 1,305.00 | 1,305.00 | |||
| 855.00 | 855.00 | |||
| TOTAL | 2,335.00 | 2,515.00 | 1,390.00 1,390.00 | 940.00 940.00 |
| 1,390.00 | 1,390.00 | |||
| 940.00 | 940.00 |
Fees and Funding
| Modules | Fees after Subsidy (incl. of GST) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | |||
|---|---|---|---|---|---|
| Category | |||
|---|---|---|---|
| 2 | |||
| 1 | Not Applicable | ||
1 For Singaporeans aged 40 and above, you are eligible to utilise the SkillsFuture Credit (Mid-Career) further to offset your course fee after the IBF subsidy.
2 Fees shown are after IBF-STS funding assuming students meet the minimum academic standards outlined by IBF and are physically based in Singapore. The fees are also subject to IBF accreditation approval for all modules.
Fees and Funding
Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Singaporean Aged Below 40 / PR Company Sponsored/Self Sponsored | Singaporean Aged 40 & Above Company Sponsored/Self Sponsored | |
| Singaporean Aged Below 40 / PR | ||||
| Company Sponsored/Self Sponsored | ||||
| Singaporean Aged 40 & Above | ||||
| Company Sponsored/Self Sponsored | ||||
| Course Fees | 2,250.00 | 2,452.50 | 1,327.50 | 877.50 |
Fees and Funding
Core Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | |
|---|---|---|---|
| Before GST | Singaporean Aged Below 40 / PR | Singaporean Aged 40 & Above | |
| Company Sponsored/Self Sponsored | Company Sponsored/Self Sponsored |
Note:
Fees shown are after IBF-STS funding. Subsidised# fees apply upon participants’ successful completion of the programme, which includes (i) fulfilling minimum attendance requirements and (ii) passing all relevant assessments.
#Click here to read more about funding support for IBF-STS, and the terms & conditions governing registration, payment, cancellation, deferment and no-show.
Eligible SG citizens may utilise SkillsFuture Credit to offset course fees. This is only applicable for the regular SkillsFuture Credit, and not applicable for the SkillsFuture Credit (Mid-Career) additional top-up funding.
Global-Asia Family Office Circle (GFO Circle) Members are entitled to 10% discount across “Trust Services” programmes. Click here for more information on GFO Circle membership.
The information above is correct at the time of publication. Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.
In addition to Course Fees, each participant will also be charged a non-refundable and non-claimable application fee of S$85 (including GST).
This programme is pending accreditation by the Institute of Banking and Finance (IBF). When accredited, Singaporeans and Permanent Residents will be eligible for funding support of up to 70% course fee subsidy under the IBF Standards Training Scheme (IBF-STS).
Fees shown are after IBF-STS funding. Subsidised fees apply upon participants’ successful completion of the programme, which includes (i) fulfilling minimum attendance requirements and (ii) passing all relevant assessments.
Subsidies are subject to change by IBF and fees will be adjusted based on prevailing funding rates. Click here to read more about funding support for IBF-STS, and terms & conditions governing registration, payment, cancellation, deferment and no-show.
The information above is correct at the time of publication. Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.
Schedule
Please note that program dates are subject to change at WMI’s discretion in the event of unforeseen circumstances. WMI will strive to provide advance notice of any changes whenever possible.
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