Nature of Single Family Offices (SFOs)
Why would Singapore be an attractive place to set up a Family Office?
- Politically stable and independent country, with efficient government
- Pro-business government actively promoting asset management and financial sector
- Attractive tax regime in Singapore:
- no capital gains tax
- no inheritance tax
- tax exemption schemes available for family offices in Singapore
- Singapore has signed Double-tax agreements (DTAs), Limited DTAs, and Exchange of Information Arrangements (EOI) with have more than 100 jurisdictions to reduce double taxation incidences
- Singapore has incentives designed for the asset and wealth management sector
- Well-established and developed infrastructure for the asset and wealth management sector
- It is easy to find experienced professionals to assist the Family Office.