Family Offices

Family Office Introduction

If private banks are at the top of the commercial banking pyramid, then the family office is the apex of this pyramid.

Family office is an organization that gathers senior investment consultants, certified public accountants, lawyers and other professionals to provide a full range of wealth management services for high-net-worth family clients – covering family trust, tax planning, asset management, private legal services, butler services and more – it is the highest-end form of wealth management.

According to data from the Monetary Authority of Singapore, the scale of asset management in Singapore is increasing year by year, reaching SGD $4 trillion in 2019, or approximately USD $3 trillion, making it the world’s largest asset management center. According to another set of data from the Monetary Authority of Singapore (MAS), bank deposits of residents outside Singapore reached a record $62.14 billion in April 2020.

The Singapore government welcomes high-net-worth families to set up family offices in Singapore by providing tax incentives and concessions for successfully established funds.

What is Family Office

Asset Allocation
+ Asset Management
+Wealth Inheritance
+ Immigration to Singapore with Family

=

Asset Immigration

Main Tax Incentive Schemes Include

The Tax Incentive Schemes can greatly reduce the burden of setting up a single family office in Singapore

On Shore Fund Tax Incentive Scheme - 13R

Off Shore Fund Tax Incentive Scheme - 13CA

Enhanced Tier Fund Tax Incentive Scheme - 13X

Application Conditions and Categories

Family Office Structure

Application Process

Customer Consultation – Plan according to the client’s needs

Design Family Office Structure ( About 3 Days )

Register Company And Establish Formal Structure ( About 3 Days )

Open Bank Accounts ( About 1 Week )

Capital Injection ( About 1 To 3 Months)

Apply For Employment Pass And Dependent Pass ( About 1 To 2 Months )

Schedule Interview With MAS

Apply For Fund Exemption License And TAX Exemption License From MAS (About 3 To 4 Months)

Plan Investment And Financial Goals

Carry Out Investment And Financial Goals

Enquiry

(65) 6536 9589

enquiry@chengsg.com

If you have questions regarding our services, please contact us.