Family Offices are used by ultra-high net worth families to address financial and non-financial needs such as family governance, legacy preservation, education, insurance, charitable giving, investing and oversight of family-owned businesses.
Family offices are gaining popularity in Singapore for a number of reasons. Firstly, one of the most remarkable things about Singapore is that it is commonly known as a financial hub not within the region but across the world as well. Singapore is considered as one the most attractive markets to go among investors and financiers around the world and Singapore has overtaken the likes of Hong Kong as the top financial hub in Asia. Moreover, Singapore is well known for its attractive corporate and personal tax rates, tax relief measures, absence of capital gains tax, one-tier tax system and extensive double tax treaties. The political, legal and economic stability, attractive tax schemes and a benevolent regulatory framework of Singapore offer a unique and conductive environment to set up a family office.
Owners of significant fortunes face increasingly complex challenges in managing their wealth in all its forms. Our will facilitate the set-up of your single-family office in Singapore, providing comprehensive advice on how to structure and set up the family office, apply for tax incentives and regulatory exemptions, and provide ongoing support to ensure full tax and regulatory compliance and the smooth administration of the family office.