Infinity treasures

[CptCaveman]

Big thanks to Captain Caveman who recognises there is a balanced argument here...

I just feel everyone is entitled to their own opinions and that's what it's all about. We learn from one another and then make our own judgments from everything we understood and learned here.

 

[limster]

buy land in England is not alternative investment.

buy land in England through profitable plots is alternative investment

the line is not very clear to me

The govt advises people to only buy tour packages from licensed agents regulated by STB.

Buy tour package to England from unlicensed and unregulated travel agent

Buy your own air ticket to England and book your own hotel.

The line is very clear to me.

 

[JamesPP]

Where did I claim that I know what your hidden agenda was, I merely state that you have a hidden agenda...This is really slander to say that I claim to know your hidden agenda...

Secondly, another accusation that I insulted developers...Seriously, do you even know what is regulated and what is not? What is owning something vs what is buying using a Trust? If you do know, you will not choose to say crap like developers who chose the non regulated route...If you don't know, please read up on what is regulated to not make a fool out of yourself...

It is not slander for you to suggest I have a hidden agenda,
But it is slander for me to suggest you do not know what my hidden agenda is....

OMG - I need a drink.......

 

[makav31i]

So - how much does it cost to set up a trust?

Putting aside the cost of registering a business in Singapore, the business need to pay $1,000 to MAS to apply...The Trust need to have minimum paid up capital or qualifying assets of $250k...so the cost to set up a trust is $1,000 other than the cost of registering a business...You are asking for the cost not the pre-requisites or compliance...

So $1,000 application fee to set up a trust is a lot for property developers?

Forgot to add, the annual license fee is $4,000..

 

[JamesPP]

Putting aside the cost of registering a business in Singapore, the business need to pay $1,000 to MAS to apply...The Trust need to have minimum paid up capital or qualifying assets of $250k...so the cost to set up a trust is $1,000 other than the cost of registering a business...You are asking for the cost not the pre-requisites or compliance...

So $1,000 application fee to set up a trust is a lot for property developers?

Forgot to add, the annual license fee is $4,000..

Forget the application fee, Its compliance where the costs add up...correct?

 

[makav31i]

Forget the application fee, Its compliance where the costs add up...correct?

Firstly, you asked for the set up cost and i give you just that with additional information...And wrong, the compliance part is not that difficult and is really not any much added cost as compared to running a normal business...So please read up and research about it before assuming anything...

Just some of the things to do:

The trust business license application procedure consists of submitting the following documents and information to the Monetary Authority of Singapore (MAS) along with a non-refundable application fee of S$1,000:

• Trust business license application form (Form 1);
• Application for approval of resident manager or director (Form 4);
• Name, registered office address, date and place of incorporporation of the Singapore company;
• A certified true copy of the company incorporation certificate and copy of the company’s business profile issued by the Singapore Company Registrar, ACRA ;
• Details of the company’s paid-up capital and professional indemnity insurance policy;
• Details of the trust services business such as the type of clientele that the company intends to cater to, the type of trusts for which the company will offer trust administration services, etc.;
• Details of business expansion plans within Singapore as well as overseas over a three to five year period including financial projections;
• An organizational chart detailing the company’s current and proposed staff strength as well their reporting lines and functions;
• Details of the qualifications, experience, and duties of the key officers of the company;
• Details of the company’s policies and procedures regarding all areas of its operation including financial policies, accounting and internal controls, trust accounting, internal auditing, trust administration, trusteeship, complaints handling, training and recruitment, etc.;
• Information about functions that will be outsourced by the company and details of the outsourced entities;
• A certified true copy of the company’s most recent audited balance-sheet and profit and loss account;
• If applicable, details of the parent company such as the name and address of the parent company along with its date and place of incorporation, company history, business activities of the parent company and its subsidiaries, details of the parent company’s board of directors and shareholders, the group structure of the parent company and its equity interests in its subsidiaries, and a certified true copy of the most recent 3 years’ audited balance-sheets and profit and loss accounts of the parent corporation;
• If applicable, details of the ultimate holding company such as the name of the ultimate holding company and each of its subsidiaries along with its date and place of incorporation, business activities of the holding company and the list of its Singapore incorporated subsidiaries.

It normally takes the MAS eight weeks to process a successful application, upon which an offer letter will be issued to the applicant. Once the applicant fulfills the conditions set out in the offer letter, the MAS will proceed to issue a trust business license. An annual license fee ofS$4,000 is payable within two weeks from the date of notification sent by the MAS. The license is valid until it lapses or is revoked or suspended. The license will lapse if the trust services company does not commence business operations within six months of receiving the license or if the company decides to cease to carry its trust services business.

and the reporting requirement

Financial Requirement

A licensed trust services company in Singapore must maintain a minimum net asset value or qualifying assets that is:

• One-quarter of its relevant annual expenditure of the financial year immediately preceding the current financial year; or
• Three-quarters of the minimum paid-up capital or qualifying assets of S$250,000, whichever is the higher amount.

Reporting Requirement

A licensed trust services company must submit the following documents to MAS annually:

• A true and fair profit and loss account and a balance sheet made up to the last day of its financial year along with the auditor’s report. This must be submitted to MAS within 5 months after the end of the financial year.
• A statement showing that the company has met the minimum financial requirement within 14 days of being granted a license. This must be submitted to MAS within 5 months after the end of the financial year.
• A statement detailing the company’s headcount, sources of revenue and assets under trusteeship in respect of each calendar year. This must be submitted to MAS within 60 days from the end of each calendar year.
• Any change of particulars of the licensed trust services company must be notified to the MAS.
• Persons and institutions that are exempt from holding a trust business license such as banks, merchant banks, and lawyers are also required to notify MAS of their commencement of trust business, changes in particulars and cessation of trust business.

 

[makav31i]

Firstly, you ask this...

So - how much does it cost to set up a trust?

and now you change to this because you know how stupid your above question is...

It is not slander for you to suggest I have a hidden agenda,
But it is slander for me to suggest you do not know what my hidden agenda is....

OMG - I need a drink.......

And I did not slander you as proven here with your own confession...

Of course I have a hidden agenda - it is so hidden, nobody knows what it is and never will. You would need to be incredibly stupid to claim to know my agenda is, so give it your best shot!!
So by definition, I am not here to promote, but simply to warn others - not that they need it now.

It is sad so many Singaporeans have lost monies in so many scams but please do not insult developers who choose the none regulated route which is often far simpler and cheaper, meaning more money (returns) for investors.

Big thanks to Captain Caveman who recognises there is a balanced argument here...

I for once never claim to know what your hidden agenda was...I merely state that "certain people have hidden agenda" and you admit yourself that you have a hidden agenda which was "I am not here to promote, but simply to warn others"...So did i say something that is false that you have a hidden agenda...?

And you said that I "claim to know what" your "agenda is"...Did I make any such claims?

 

[makav31i]

My sincerest apology to Yellowfin and the mods here, I am merely trying to highlight to people the risk of unregulated business as someone said that, "Some Singaporean investors will be making good returns from unregulated investments" and "However, by their very nature, if all unregulated alternative investments failed, they would not exist"...

I believed that the above statement is on one hand condemning an unregulated business that failed but at the same time saying that investors make "good returns from unregulated investments" and at the same time saying, "developers who choose the none regulated route which is often far simpler and cheaper, meaning more money (returns) for investors."

I merely highlight the cost to set up a trust fund as asked by the person which proves that the allegation that developers chose not to be regulated due to cost was really unfounded...You can see the edited message and deleted message to see what was edited and why it was edited...

I am saying this more than once here already, if an investment is too good to be true, it really is...MAS have an investor alert list to warn potential investors that a business is unregulated...If you choose to invest in this unregulated business or scheme, you should only blame on your own greed for any losses made...If someone is encouraging you or telling you that unregulated business/scheme makes money for the investors, you take it with a bucket of salt...

 

[JamesPP]

My sincerest apology to Yellowfin and the mods here, I am merely trying to highlight to people the risk of unregulated business as someone said that, "Some Singaporean investors will be making good returns from unregulated investments" and "However, by their very nature, if all unregulated alternative investments failed, they would not exist"...

I believed that the above statement is on one hand condemning an unregulated business that failed but at the same time saying that investors make "good returns from unregulated investments" and at the same time saying, "developers who choose the none regulated route which is often far simpler and cheaper, meaning more money (returns) for investors."

I merely highlight the cost to set up a trust fund as asked by the person which proves that the allegation that developers chose not to be regulated due to cost was really unfounded...You can see the edited message and deleted message to see what was edited and why it was edited...

I am saying this more than once here already, if an investment is too good to be true, it really is...MAS have an investor alert list to warn potential investors that a business is unregulated...If you choose to invest in this unregulated business or scheme, you should only blame on your own greed for any losses made...If someone is encouraging you or telling you that unregulated business/scheme makes money for the investors, you take it with a bucket of salt...

Blimey - I guess its impossible to make money from an unregulated investment then.
I find this deeply upsetting as I have a few myself. I cannot disclose which ones they are for fear of promoting or having a hidden agenda.....

Answers on a postcard.......

 

[JamesPP]

too good

My sincerest apology to Yellowfin and the mods here, I am merely trying to highlight to people the risk of unregulated business as someone said that, "Some Singaporean investors will be making good returns from unregulated investments" and "However, by their very nature, if all unregulated alternative investments failed, they would not exist"...

I believed that the above statement is on one hand condemning an unregulated business that failed but at the same time saying that investors make "good returns from unregulated investments" and at the same time saying, "developers who choose the none regulated route which is often far simpler and cheaper, meaning more money (returns) for investors."

I merely highlight the cost to set up a trust fund as asked by the person which proves that the allegation that developers chose not to be regulated due to cost was really unfounded...You can see the edited message and deleted message to see what was edited and why it was edited...

I am saying this more than once here already, if an investment is too good to be true, it really is...MAS have an investor alert list to warn potential investors that a business is unregulated...If you choose to invest in this unregulated business or scheme, you should only blame on your own greed for any losses made...If someone is encouraging you or telling you that unregulated business/scheme makes money for the investors, you take it with a bucket of salt...

Too good to be true is very subjective - too good for who??
I have many clients who are making in excess of 20% per annum. . When the regulator came for a chat, we told him to take a hike as our activity was none of his business.
We have yet to purchase any salt for our investors - just an occasional bottle of bubbly to thank them for their loyalty......

 

[JamesPP]

Lol... Not only it's a fact, it's a PROVEN FACT.

Good - if its a proven fact - PROVE IT......
Should be easy enough for you

 

[JamesPP]

Firstly, you ask this...



and now you change to this because you know how stupid your above question is...



And I did not slander you as proven here with your own confession...



I for once never claim to know what your hidden agenda was...I merely state that "certain people have hidden agenda" and you admit yourself that you have a hidden agenda which was "I am not here to promote, but simply to warn others"...So did i say something that is false that you have a hidden agenda...?

And you said that I "claim to know what" your "agenda is"...Did I make any such claims?

Sarcasm - the lowest form of wit - the highest form of intelligence. Look it up!

 

[alexchia01]

Good - if its a proven fact - PROVE IT......
Should be easy enough for you

Simple... Sunshine Empire, Gold Geniva, The Gold Guarantee, Assetton Wine, Premium Liquid, Profitable Plot.

Now is your turn... Since you said that some alternative investment do work. PROVE IT!

Show me 1 alternative investment that do work.

However, to be accurate, you have to show one that is over 5 years, that live up to its promises, its investors are happy and still collecting their high returns regularly.

 

[makav31i]

Too good to be true is very subjective - too good for who??
I have many clients who are making in excess of 20% per annum. . When the regulator came for a chat, we told him to take a hike as our activity was none of his business.
We have yet to purchase any salt for our investors - just an occasional bottle of bubbly to thank them for their loyalty......

I rest my case..

 

[alexchia01]

Too good to be true is very subjective - too good for who??
I have many clients who are making in excess of 20% per annum. . When the regulator came for a chat, we told him to take a hike as our activity was none of his business.
We have yet to purchase any salt for our investors - just an occasional bottle of bubbly to thank them for their loyalty......

WHAT!!!!

With this kind of attitude, I can see how they going to treat their clients when things goes sour.

 

[makav31i]

Sarcasm - the lowest form of wit - the highest form of intelligence. Look it up!

Why flip flop in the first place when you asked how much it cost to set up a trust, when I show how not difficult it is or expensive as you claimed, you simply ignore it and edited your post...If a business choose not to be regulated and said cost was the reason, it is totally crap because in no way $4,000 license fee a year is too expensive if the business is handling amount in the tune of millions...

The regulations is to protect investors from irresponsible business like Infinity Treasures, Gold Guarantee, Genneva and whatever crappy ponzi running scheme out there...At least the financial reporting structure to MAS ensures that the business is sound...If you are running an unregulated investment business and claim it was due to to cost or compliance, it is just out of ignorance or put into question why the business was not regulated in the first place...

I am here advocating for people not to be scammed by the likes of Infinity Treasures or any other get rich scheme by those unregulated schemes..I don't have any vested interest in any unregulated business or investment...However, you on the other have a vested interest in an unregulated investment but did not state where it was...

 

[makav31i]

Simple... Sunshine Empire, Gold Geniva, The Gold Guarantee, Assetton Wine, Premium Liquid, Profitable Plot.

Now is your turn... Since you said that some alternative investment do work. PROVE IT!

Show me 1 alternative investment that do work.

However, to be accurate, you have to show one that is over 5 years, that live up to its promises, its investors are happy and still collecting their high returns regularly.

Bro, more than 5 years a bit difficult as some like Genneva or those time share actually lasted for more than 5 years and was on the MAS investor alert list for a few years before the whole scheme collapse...Just like Bernie Madoff ponzi scheme started since 1990s till it collapse..

It actually boils down to how the business makes money and pay its investors...

 

[limster]

I rest my case..

Same old pattern as other threads. "I have a super secret investment making lots of money that I can't disclose in these forums."

Next, we will be seeing newly created accounts claiming that they are clients of James and earning loads of money but sworn to secrecy?

If returns so good, all the investment banks, venture capitalists, billionaires with spare change will be rushing to invest with you. No need to talk about it in HWZ.

Come to think of it, could the PP in JamesPP refer to private placement?

 

[makav31i]

Same old pattern as other threads. "I have a super secret investment making lots of money that I can't disclose in these forums."

Next, we will be seeing newly created accounts claiming that they are clients of James and earning loads of money but sworn to secrecy?

If returns so good, all the investment banks, venture capitalists, billionaires with spare change will be rushing to invest with you. No need to talk about it in HWZ.

Come to think of it, could the PP in JamesPP refer to private placement?

What to do, there are always opportunist people around just like during the collapse of Genneva, a lot of new accounts that posted specifically in those few group at the same time in private message asked vuctims to go to Asia Pacific Bullion or The Gold Guarantee for a "rescue" plan...This agents did not say openly that they are from APB or TGG..but at the same time, not willing to say anything about other similar scheme around...

How much cost and difficult is it to set up a trust fund that is regulated by MAS? If the business have no shady practices and a sound business plan, why is it not regulated in the first place...? If they claim that it was the set up cost, $5,000 is too much? If they realize that cost would not be an issue and claim that it was the compliance part, look what I posted on the previous page and tell me why the business choose not to be regulated in the first place..?

 

[JamesPP]

Simple... Sunshine Empire, Gold Geniva, The Gold Guarantee, Assetton Wine, Premium Liquid, Profitable Plot.

Now is your turn... Since you said that some alternative investment do work. PROVE IT!

Show me 1 alternative investment that do work.

However, to be accurate, you have to show one that is over 5 years, that live up to its promises, its investors are happy and still collecting their high returns regularly.

OK - you have convinced me with your analysis. The 6 high profile unregulated schemes that went wrong have convinced me. Right - its down to the bank for me to gain my paltry 3% whilst it gets rich on the back of my money. still at least its safe. banks never get it wrong.....