Setting up a Family Office in Singapore is a symbol of family wealth and assets of a few selected high-net-worth individuals and wealthy families.
Start to capitalise and maximise your wealth while taking advantage of the tax exemption schemes under the Monetary Authority of Singapore. Now, you can set up your family office and get your Employment Pass in Singapore. The Singapore Government has provided tax exemption incentives for funds managed by family offices for both offshore and onshore vehicles.
Set your mind at ease and reside in Singapore while our managers working hard to maximise your wealth and assuring that funds managed by family offices will not incur Singapore income tax on your investment gains.
What is Family Office?
It is not too difficult to understand, what you earned is truly yours in your Family Office.As many high-net-worth families are transitioning into the next generation, there is growing demand from these families to put a proper structure in place to manage the family’s wealth. We have worked with many high-net-worth families, who are eager to ensure that their assets are held under tax compliant and tax efficient structures. We understand you.
Why work for others when you can work in your family office?
Family offices are entities which assume day-to-day management and administration of the assets of high-net-worth families. Many of our high-net-worth families are training the next generation to manage the family’s wealth and succession planning. One of the following exemption schemes and consider offered by the Singapore Government may suit you.
Why work for others when you can work in your family office?
Family offices are entities which assume day-to-day management and administration of the assets of high-net-worth families. Many of our high-net-worth families are training the next generation to manage the family’s wealth and succession planning. One of the following exemption schemes and consider offered by the Singapore Government may suit you.
13R – Onshore Fund Tax Incentive Scheme
This is the most preferred scheme among our foreign clients. For private equity funds investing and taking advantage of Singapore’s position as a global financial hub. Investors enjoy exemption of income of company incorporated and resident in Singapore arising from funds managed by fund manager based in Singapore. It is for tax resident of Singapore, for which funds must not be 100% owned by Singapore investors. No restriction on assets under management(AUM). However a fund expenditure of $200,000 is required. Your salary and rental counts. Funds as a Private Limited Company (Pte Ltd). Normally 1 EP quota will be granted per Family Office.
13CA – Offshore Fund Tax Incentive Scheme
For mutual funds and notable investors taking advantage of it not being governed by the Singapore Companies Act. Investors enjoy exemption of income arising from funds managed by fund manager in Singapore. It is for non-tax resident of Singapore with no presence in Singapore (other than the Singapore fund manager and Singapore based trustee), for which funds must not be 100% beneficially owned by Singapore investors. No restriction on assets under management (AUM). Funds as Unit Trust.
13X – Enhanced-Tier Fund Tax Incentive Scheme
In this scheme, global investors receive exemption of income arising from funds managed by the fund manager in Singapore. There is no restriction over the fund’s residence and investors are choosing Singapore’s fund managers for its infrastructure and strategical location. The fund administrator must be Singapore-based and the assets under management should be at least S$50 million. Funds as companies, trusts and limited partnerships. Normally 3 EP quota will be given to individuals in the Family Office.
Tax exemption
Bilingual, English
educated local workforce
Employment pass quota for family funds management staff
Strict personal data protection regimes
Excellent infrastructure
Competitive, safe, transparent tax regime
International financial hub
Efficient legal system
Advice on the Family Office Structure
1
We will assist to design a
feasible, tax compliant and
tax efficient family office
structure aligned with your
objectives.
Implementation
2
We will assist in the application for the relevant fund tax incentive, attend meetings with MAS, review the legal documents from a tax compliant perspective and implement the structure. You will receive an investment management agreement template and legal opinion on exemption of license from our expertise.
Entity Incorporation
3
We will assist to coordinate with our panel service provider for your choice to provide company incorporation services which will include the standard Constitution.
Employment Pass Application
4
We will provide an employment contract template between the fund management company and the investment professionals, and submit EP application on your behalf.
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