Singapore legislation
Regulation 3
of Income Tax (Exemption of Income of Foreign Account of Philanthropic Purpose Trust) Regulations 2007
Regulation 3
Status of foreign account where settlor becomes citizen of Singapore or resident in Singapore
Where any settlor (being an individual) who injected funds or assets into a foreign account of a philanthropic purpose trust subsequently becomes a citizen of Singapore or resident in Singapore, that account shall continue to be regarded as a foreign account for the purposes of section 13O of the Act if —
as from the date on which the settlor becomes a citizen of Singapore or resident in Singapore, he does not —
inject any funds or assets into that account; or
receive or enjoy any benefit under that account; and
if the settlor had previously been a citizen of Singapore or resident in Singapore and had ceased to be such citizen or resident before the constitution of the trust, a period of at least 5 years has elapsed between the date he last ceased to be a citizen of Singapore or resident in Singapore before the constitution of the trust and the date he subsequently becomes a citizen of Singapore or resident in Singapore.