Singapore Family Office

A family office is a specialized institution that focuses on the comprehensive management and governance of family financial affairs with ultra-high net worth. These families generally have financial assets of at least US$100 million. Family offices are responsible for managing all family assets, including financial investments, family capital, human resources, and social networks. This includes not only the creation and management of assets, but also succession and effective utilization. This integrated approach to management and governance helps families maintain the stability and growth of their wealth.

Types of family offices:

The main types of family offices in Singapore are 13D, 13O, and 13U.

Single-Family Office: This type is established independently by a single wealthy family to manage its financial affairs and investment portfolio. It can operate as a nonprofit organization or a for-profit company.

Multi-Family Office: Serving multiple families, this office provides shared resources and expertise. It typically operates on a larger scale with more resources, enabling it to offer a wider range of services.

Services and Responsibilities

Financial Planning: Family offices provide financial planning services to help families set long-term financial goals, manage expenses, and plan for retirement and estate succession.

Investment Management: Family offices oversee the management of the family’s investment portfolio, including stocks, bonds, real estate, and venture capital, to maximize returns while mitigating risk.

Tax Planning: The office provides tax strategies and planning to minimize tax liabilities and legally reduce the tax burden.

Risk Management: Manages the family’s insurance and risk management strategies to protect assets from adverse events.

Estate Planning: Assists families in developing succession plans to ensure assets are transferred smoothly to the next generation while reducing tax liabilities.

Benefits of a Family Office

Tax-free income.

Eligible funds are entitled to tax exemption on their investment income.

Global Asset Allocation

A well-structured financial system, no foreign exchange controls, and access to global markets.

Optimal Tax Planning

Clients who obtain Singapore tax residency status through the EP scheme can avoid the Common Reporting Standard (CRS).

Family Immigration

Children and parents can apply directly for family visas and long-term visit visas.

Identity Planning Abroad

Customers can move to Singapore by changing their Employment Pass (EP) status to Singapore Permanent Resident (PR) status.

Passing on Family Wealth

Building a sustainable family tradition through a family office to achieve intergenerational succession and the preservation and growth of family wealth.

Other Benefits

Asset Protection:

The family office is responsible for protecting family assets and inheritance. This includes inheritance planning, trust formation, creating legal structures to mitigate legal risks, and ensuring the financial security of family members.

Confidentiality and Privacy:

The family office maintains strict confidentiality and privacy regarding the family’s financial situation and related information, ensuring that the family’s privacy is respected.

Investment Strategy:

The family office formulates and implements investment strategies to ensure the appreciation of the family’s investment portfolio. This may involve diversified investments, including stocks, real estate, private equity, and others.

Tax Strategy:

The family office provides tax planning advice to reduce the family’s tax burden and ensure wealth retention is maximized while complying with regulations.

Family Governance:

A family office can assist families in establishing a family constitution or governance structure to regulate family members’ involvement in family affairs, distribution of authority, and decision-making processes.

Philanthropy and Social Responsibility:
A family office can also be involved in family philanthropy and social responsibility initiatives, helping families achieve charitable goals and support the community.

Monitoring and Reporting:
The family office typically provides regular financial reports to family members, transparently displaying asset status and investment performance.

Regulation and Compliance:
The office must comply with Singapore’s regulatory and compliance requirements to ensure all operations are legally valid while meeting regulatory authority requirements.

Family Office Registration Procedure

1. Determine the type of family office to be established: First, you must decide whether your family office will be a single-family office or a multi-family office. This will affect the next steps and regulatory requirements.

2. Draft the family constitution: For a single-family office, you need to draft a family constitution or a preliminary version. This document will outline the family office’s objectives, governance structure, financial planning, succession arrangements, and other relevant matters.

3. Register the company: You will need to select a registered agent or professional services firm to assist with the registration process. They will help prepare and submit the necessary documents for establishing a company in Singapore.

4. Choose a registered name: Choose a unique name that will be used as the official designation for your family office. Make sure the name does not conflict with existing company names and complies with naming conventions in Singapore.

5. Provide a Registered Address: You must provide a registered address for your family office. This can be a physical address in Singapore, or you can consider renting a virtual office or using a registered address service.

6. Prepare and Submit Application: Together with your registration agent, prepare and submit an application to register your family office, including the family charter, articles of association, shareholder information, and other relevant documents.

7. Wait for approval: Once submitted, the application requires approval from the Singapore authorities. This process usually takes a few working days.

8. Open a bank account: Once registration is successful, you can proceed to open a corporate bank account. You can choose a Singaporean bank or an international bank according to your needs.

9. Financial Management and Planning: After commencing operations, you can begin financial management and planning activities, including portfolio management, tax planning, and estate succession arrangements.

10. Regulatory Compliance and Reporting: The family office must comply with Singapore’s regulatory and compliance requirements. You are required to submit periodic reports detailing the financial and operational status of the family office.

Singapore-based team

Expert in Singapore immigration policy, partner of the Singapore Economic Development Board (EDB).

High success rate

The success rate of immigration program applications is 96%.

Professional writing team

Immigration specialists professionally design, compile, and refine immigration proposals in Mandarin and English, as well as assist in the organization of comprehensive documentation.

Customization

Clients enjoy exclusive one-on-one service with tailored family office immigration solutions.

Attorney Certification

Esinbiz’s internal legal team provides strict supervision for your projects.

End-to-end service

Design and establishment of family office structures, along with comprehensive services including identity planning.

Comprehensive after-sales service

Airport shuttle service, property rental, domestic worker recruitment, utility connection management, and telephone card/travel card arrangements.

Children’s Education Planning

Assisting clients in planning their children’s education abroad and applying for admission to universities.

Expertise and Experience: We have extensive expertise and experience, particularly in family services. Our team excels in financial planning, investment management, tax strategy, and wealth succession. Our years of experience enable us to provide carefully tailored solutions to meet each family’s unique needs.

Customized Services: We recognize that every family has different financial goals and needs. We work closely with your family to develop a plan tailored to your long-term financial and family goals. We gain a deep understanding of your situation to ensure the most suitable solutions are provided.

Tax Advantages: We provide professional tax planning services to help families minimize their tax burden. We have a deep understanding of Singapore tax regulations and can help families legally maximize their wealth. Our goal is to ensure your compliance while maximizing your tax benefits.

Comprehensive Financial Management: We provide one-stop solutions that include financial planning, investment management, risk management, and estate succession. This allows families to focus more on their lives without the burden of complex financial matters. We are committed to providing a seamless financial experience.

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