How many entities are there in a Family Office Structure?
For the purposes of an SFO seeking or requiring a Section 13(O)/Section 13(U) tax incentive schemes, usually, there are at least 2 different entities in the structure. The SFO is the entity that meets the needs of the family, usually including the management of the assets of the family whereas the fund entity is structured to hold the assets for the family. The SFO will therefore manage the assets of the fund entity.
In Singapore, a typical SFO set up as a private limited company. This is a private company limited by shares. The shares can be owned by the holding company of the family office or common shareholders with the family fund entity or by a family trust.
The company can be set up by contacting your professional company secretary, a lawyer, trustee, or accountant.