Advantages of Setting Up A Family Office in Singapore

With the cooperation of Kelvin Chia Partnership (KCP), our affiliate and full-service law firm, our team can assist you in structuring, registering and maintaining both single-family or multi-family offices in Singapore.

Why Establish a Family Office in Singapore?

• Singapore has established itself as one of the leading private banking and wealth management centres globally and in Asia. High networth (“HNW”) individuals and families choose Singapore for our sound financial ecosystem, strong rule of law, as well as political and economic stability. The breadth and depth of institutions here also give them ready access to global and regional financial markets while providing a full suite of wealth management services to meet their every need.

Source: https://www.mas.gov.sg/development/wealth-management


• The legal and regulatory landscape in Singapore extend commercial and tax advantages to investments made through Singapore-registered family offices:


• In other jurisdictions financial advisory services (which are usually provided by family offices) must be licensed under relevant securities laws. Singapore does not require licensing for single-family offices (SFOs) that provide financial advisory services to related funds owned by the same individual/family.


• Investment funds established by a HNW individual or family can avail of tax exemptions (specifically exemption from income taxes) for profits received on investments managed by related SFOs, since SFOs recognized as qualified fund managers as required under Singapore tax laws.


• SFOs may sponsor employment passes and even permanent residency by HNW family members.




What is a Single-Family Office?

A single-family office is a private wealth management organizational structure that manages the personal and financial affairs of wealthy individuals and families. lt can be structured in different ways depending on the family's needs and goals. Some single-family offices focus solely on investment advice and have a small team. Others are more complex organizations with their own investment team, relationships with vendors, and a wide range of financial services.

What is a Multi-Family Office?

A multi-family office is a wealth management firm that provides comprehensive financial services to very wealthy families and individuals. A multi-family office does the same thing as a family office but for more than one family or individual. Multi-family offices can vary greatly in terms of the services and strengths they offer. This is because they are personalized to meet the specific needs of each individual or family.