Choose Singapore
Why Singapore
001________
Why choose Singapore?
Well regarded financial system｜No foreign exchange controls｜Preferential tax policies
More than a quarter of billionaires in the world are from Asia. According to the Billionaire Census Report from Wealth-X in the past two years, Asia has the fastest growth rate of billionaire numbers, with a new billionaire emerging every two days. The Monetary Authority of Singapore has pointed out that the number of family offices in Singapore has increased fivefold from year 2016 to 2020, and the assets under management of family offices have valued over S$62.1 billion.
Singapore has become the primary destination for HNW (High-net-worth) families to set up family offices. Among them including Ray Dalio, an American billionaire and founder of the world's largest hedge fund known as Bridgewater Fund. He set up a family office in Singapore to manage his investment and philanthropy in Asia. Google co-founder Sergey Brin also chose to invest in Singapore to set up his family office. Why do these wealthy families prefer to set up family offices in Singapore?
002________
Protection｜Confidentiality｜Security
Singapore's advantages
003________
Tax incentives for family offices and funds in Singapore
-Tax exemptions are applicable to Singapore’s family offices and specific investment earnings obtained through fund structures (Section 13O/Section 13D/Section 13U).
-The Government of Singapore has launched substantial taxation agreements in addressing the avoidance of double taxation on investments.
Onshore Fund Tax Incentive Scheme
（Section 13O）
Place of registering fund entities: Singapore
Minimum fund value: SGD 10,000,000 (Increased to SGD 20,000,000 within 2-year grace period)
Annual operating expenses: ≥ SGD 200,000
(Local or Overseas)
Investment Professionals: At least two
Local Investment: 10% of AUM or SGD 10,000,000 (Whichever is lower)
Approval by MAS: Required
Offshore Fund Tax Incentive Scheme
（Section 13D）
Place of registering fund entities: Overseas
Minimum fund value: NIL
Annual operating expenses: NIL
Approval by the MAS: Not required
Enhanced-Tier Fund Tax Incentive Scheme
（Section 13U）
Place of registering fund entities: SG/Overseas
Minimum fund value: SGD 50,000,000
Annual operating expenses: ≥ SGD 500,000 (Local)
Investment Professionals: At least three
(at least one non-family member)
Local Investment: 10% of AUM or SGD 10,000,000 (Whichever is lower)
Approval by the MAS: Required