I have considered setting up a trust (my child as beneficiary) to avoid ABSD when buying a condo. How difficult is it? What are the additional costs/resources needed?

Hi Junda,

Douglas here. 2nd Keynote speaker.

Setting a trust is not expensive. A ballpark would be 5 to 7k. The purchase will have to be done in full cash so my clients who buy in trust prefer to buy BUC new launch so that they don't have to pay cash upfront for the entire purchase but in stages until the project is completed.​​​
You can always connect with me via https://www.facebook.com/douglas.chow.908 or simply whatsapp/sms my company 24/7 hotline @83324283
Remember, plan your finances properly, don’t overstretch, do your homework and enjoy your property investment journey.
Regards
Douglas Chow

It will just cost several thousands to setup a trust with a qualified lawyer.

But u will also (most likely) have to purchase the property in full cash. Banks will not (mostly) do not loan to trust purchases especially the beneficiary is a minor.

Depending on the age of your child, also there are other drawbacks.