Singapore Family Office

The Singapore family office is the main applicant setting up two companies in Singapore, one is a fund company and the other is a family office. The main applicant conducts investment and financial management and manages his own assets through the family office, and enjoys the tax exemption program of the Monetary Authority of Singapore for the family office. At the same time, the main applicant can also obtain a self-employed permit (EP) to realize immigration to a major country, thereby identifying identity and assets Planning and allocation, wealth inheritance are in place in one step, once and for all. After holding the EP for 6 months and meeting the conditions, you can apply for Singapore Permanent Resident (PR). Spouse and unmarried children under the age of 21 can apply for Dependant Pass (DP); parents can apply for long-term visit pass LTVP.

Singapore family office application requirements:

1. At least 5 million dollars in current assets

2. The principal applicant is 21 years old or above

3. Be able to explain the source of funds

4. No criminal record

5. Annual operating expenditure of $200,000 SGD

Global Investor Programme (GIP) family office program requirements:

• Invest S$5 million to set up a family office and manage S$200 million in assets: Managing S$200 million in assets is a requirement for a single family office under the GIP. This does not mean that the establishment of a family office in Singapore must have S$200 million It is also possible to set up a single-family office in Singapore with assets of less than S$200 million.

• The types of assets managed by a single-family office, in addition to real estate, generally include stocks, bonds and other derivative products, and bank deposits. • After the establishment of a single-family office, asset holders can apply for Singapore Employment Pass, spouses and children under 21 can apply for Dependant's Pass, and parents of asset holders can apply for long-term visit passes ( Long Term Visit Pass) to realize the family's long-term residence in Singapore for three generations.

• After holding the Employment Pass status for 2-3 years, asset holders can also bring their spouse and children under 21 to apply for Singapore permanent residents.

The main purpose of the family office:

1. Inheritance of the next generation

2. Tax planning and efficiency

3. Philanthropy

4. Wealth Growth and Protection

5. Avoid potential family disputes

6. Macro-environmental political issue

7. Family structure and governance

8. Housing and Education

Main advantage

1.  Stable and pro-business environment:

Singapore has been rated as one of the "Best Business Economies in the World" for more than a decade. The local government is very keen to attract foreign investors and has continuously introduced diversified support policies and projects.

2.  A legal system with good reputation:

Singapore has a sound, complete and fair legal system, clear and transparent laws and regulations, and ranks first in Asia. The legal rights of companies and entrepreneurs are well protected in Singapore, and it also provides the best "place" for family wealth. Singapore also ranks second in the world in terms of intellectual property protection, and first in Asia.

3.  Attractive tax plan:

The Singapore family office provides tax exemption for funds managed by offshore and domestic companies. After approval, the relevant funds do not need to pay taxes on designated income or investment income, and have signed mutual Double Taxation Agreements DTA with more than 100 countries and regions. This is also an attractive factor for families with cross-border businesses.

4.  Destination of immigrants:

As the most livable city in Asia, Singapore ranks high in the world in terms of living environment, healthcare system, education system, etc., and is one of the first choices for immigrants of the world's richest and celebrities. You can apply for a work pass EP to convert Singapore permanent residents (PR) to achieve the purpose of individual and family immigration to Singapore.

5.  Asset allocation and family inheritance:

Singapore’s income tax burden is at a very low level among developed countries in the world. By obtaining Singapore’s tax status, it can achieve the best tax planning for individuals and families. At the same time, the family office establishes a long-lasting family tradition to achieve cross-generational inheritance and preservation and appreciation of family wealth.

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