What is a family office in Singapore?

It is set up by the family to manage its own assets of more than S$5 million or the family, and is applicable to the tax exemption scheme of Singapore**, with the purpose of maintaining and passing on the family wealth. I and my family can obtain Singapore resident status, and become a scheming fat tax resident, with no strict application threshold and no residency requirements, which is a cost-effective program for high-net-worth individuals to immigrate to Singapore.

Refers to an entity that manages assets solely for or on behalf of a single family and is wholly owned or controlled by members of the same family. Implement trust planning and use of financial instruments through family offices.

It can realize cross-generational inheritance and maintain and increase the value of family wealth. On 18 February 2019, Singapore** introduced tax incentives for**. Three of them** tax exemptions, 13CA, 13R, and 13X, have been extended until 31 December 2024 and are amended as appropriate to enhance their openness and flexibility.

** companies registered before 31 December 2024 are eligible for this tax exemption for life. After the applicant sets up two companies established by himself or his family members in Singapore, one **company and one **management company (family office), and invests S$5 million, the main applicant invests and manages through the family office.

Manage your own assets, and at the same time, you can also apply for a work pass (EP) to go to Singapore, eligible family members can apply for a family pass (DP) to accompany you, and after 2 years, you can apply for permanent residence if you meet the conditions, and enjoy Singapore's comprehensive education and social welfare.

Many people have come to a very good conclusion after investing in the project, owning a part of their own assets, and the vast majority of people can invest these assets to get more profits, while some people will choose to invest their assets in foreign markets, so as to diversify assets, expand their trading overseas, and bring more benefits. In that way, choosing China as the investment target has become a factor that investors must consider.

With the increasingly sound financial regulatory system and its preferential tax policies for the financial industry, Singapore has gradually attracted the attention of many investors. For example, the more famous ones such as Zhang Jianjun, the founder of Haidilao Hot Pot, Shu Ping and his wife, James Dyson, the founder of Dyson Electric Company, and Sergeybrin, the founder of Google Search, have successively considered opening family offices in Singapore. Why do such wealthy businessmen and investors like to open a family office in Singapore?

Let's take a look.

As a regional breakthrough point for the sustainable development of Southeast Asia and the Asia-Pacific region, Singapore has attracted many multinational companies to settle in one after another due to its relatively stable economic growth rate, preferential tax incentives, and talented people over the years. At the same time, as a world-class international financial center that continues to develop rapidly, Singapore has become the main choice for many high-net-worth immigration applicants. In March of this year, the 2021 Index of Economic Freedom World Rankings (2021 Index of Economic FreedomWorldRankings) was released by the American Tradition** Association, and Singapore topped the list for three consecutive years!

Singapore has sound regulations and a well-developed financial infrastructure, and it has also brought together many talents in the wealth management industry. With its unique location in the heart of Asia, Singapore has become the best choice for high-net-worth families around the world to set up a family office. The main objectives of Singapore's policy incentives are to incentivize project investment, import and export, increase employment opportunities, incentivize R&D and high-tech product production, and business activities that make the overall economic development more dynamic.

For example, for those involving unique industrial chains and services (such as high-tech, high-efficiency companies), large and medium-sized multinational enterprises, scientific research institutions, regional headquarters, international shipping and its export-oriented enterprises, etc., a certain period of reduction, tax exemption policy concessions or financial support will be given. **The department has launched various preferential policies, and foreign-funded companies can basically enjoy the same as local enterprises. Whether it is in terms of taxes or cost and profit, a family office in Singapore is one of the good choices.

Singapore has always been known for its low taxation, Singapore is one of the lowest local taxes, with an individual tax of no more than 22% and an income tax of 17%. In addition, Singapore is able to open an offshore company and can enjoy many special benefits. Singapore family offices can enjoy a variety of preferential tax policies launched by Singapore** departments, so that applicants can get the rapid multiplication of large family asset planning.

Singapore family offices have a tax administration mechanism stipulated by MAS, so applicants do not have to worry about paying too high taxes.

This is because Singapore's resources are very good, and there is also development potential, and it is relatively private, so it is a popular choice for the rich.

Many of the world's wealthiest people have set up family offices in Singapore, prompting financial institutions to expand their wealth management business and seize business opportunities.

After all, the economy of this place is relatively developed, and the degree of affluence is very high, and there are many development opportunities, so it will be chosen by these rich people.

Because the layout of this office is very reasonable and comfortable, it is a popular choice for the wealthy.

The main reason why the Singapore Family Office is more reliable than immigrants from other countries may be that it is very closely related to their immigration policies, and if you immigrate in Singapore, it will be of great help to our Liang Jing's subsequent life and subsidies, and Hu Bi and this immigration method has also been loved and supported by many people.

It shows that Singapore's economic status is relatively high, and its influence in the international arena is also relatively large, so it will be more reliable than other countries.

It shows that Singapore's immigrants are more concerned by people, and Singapore's economic strength is stronger than that of the collapse, which can bring better development to people, so this place will be more popular than noisy luck.

Singapore family offices provide services such as overseas investment, asset allocation, tax planning, immigration planning and family wealth inheritance for high-net-worth individuals through a modern business management system. A single office can not only help applicants achieve their immigration goals, but also enjoy tax exemption on investment income. There are no eligibility requirements for the manager of a single-family office** in Singapore (exempt from MAS by the Monetary Authority).

Singapore Family Office Benefits:

Low requirements: no hard requirements such as gender, education, English, etc., and no residency requirements;

Singapore Status: Singapore Tax Residency can be obtained;

Overseas assets: Overseas asset allocation can be realized;

Special Exemption for Tax Exemption: MAS Special Grant for Tax Exemption and License Exemption;

Wealth inheritance: wealth management to achieve family inheritance;

Family immigration: The ** manager of the family office can get two or three EP (employee pass) places, and after meeting the conditions (the main applicant has held a work pass for about two years), his spouse and children under the age of 21 can apply for PR (permanent resident) status at the same time;

Autonomous control: EP identity is approved first, then invested, and the investment initiative is completely in the hands of the customer;

Stable renewal: The applicant's establishment of a family office is a form of self-employment, and there is no need to be subject to the employer, and the EP is renewed***;

No Operations: In contrast to the general self-employed EP, there are no corporate operating requirements for Repentance.

As an independent entity, the main responsibility of the family office is to coordinate the handling of various financial matters within the family and reduce the complexity of mistakes. Strive to ensure the realization of the goal in the shortest possible time, so as to save resource costs. Not only that, but families can also make use of the professional team at the Family Zaobi office for philanthropic and tax-related consultations.

In addition, the family office can also coordinate with family members to set new goals for the family. Even if there is a change in the family state and the person in charge, the functions within the family office will not be greatly affected, and it can ensure a smooth transition of succession to the family.