Family Office Service in Singapore

Family Office Services

A family office is an entity established to provide services and manage assets of high-net-worth families. Singapore is an attractive location to set up family offices, trusts and funds to manage family wealth, due to Singapore’s well developed financial infrastructure and low tax rates.

A Singapore family office can be used for immigration planning, may sponsor employment passes or even be used as part of an application for permanent residency by high-net-worth family members under the Global Investor Programme. Singapore family office structures can typically be designed to be exempt from local securities law for providing fund management services and exempt from income tax under fund tax incentives.

Types of Family Offices

Single Family Office (SFO)

Single Family Offices cater to a single wealthy family. It’s a family-owned business where a single family manages all of the assets. Single family offices can in a variety of sizes and shapes, depending on a family’s actual wealth and makeup. They can specialise in investment services for a small family (in which case they are known as a private investment office or single-family investment firm) or offer a much broader range of services to a large, multi-generational family with a huge crew

Multi Family Office (MFO)

The MFO is a family office that was formed by a group of families who are not related to one another. There are three key sources: the first is the change from a single family office, the SFO, to accepting additional family clients; the second is private banking, which was established to better service large clients; and the third is professional creation.

Types of Family Offices

The following are characteristics of family offices:

• A rm is entrusted with family assets, which are separated from a natural person.
• Only the holding company’s shares must be transferred when assets are inherited.
• Professionals can manage family assets.
• Simple to operate

Tax Exemption

In its Security and Futures Act, the MAS does not dene a single family office, nor does it licence or regulate one. The Singapore government has offered licencing exemptions and tax benets to family offices in order to stimulate their development. Go Global Gem can assist you with tax exemption applications an
consultations for family offices; please contact our experienced accountants for more information.

Why Choose Us?

We provide a one-stop comprehensive family office solution to high-net worth individuals planning to set up family office in Singapore, covering:

• Tax-efficient family office structure set up and implementation
• Tax-free fund and trust set up
• Bank custody and account opening
• Legal documentation for fund management service and compliance
• Annual virtual family office maintenance services