Insightful publication on the family office landscape in Singapore unveiled

The publication titled “Family Offices in Singapore”, released in both English and Chinese versions, is one of the most comprehensive publications on Singapore family offices to date.

SINGAPORE, 3 December 2021 – The proliferation of family offices in Singapore over the past few years does not come as a surprise. As Singapore successfully courts successful global business families looking to take advantage of its well-established wealth management environment, we see a synchronous increase in the number of family offices being established here.

On 30 November 2021, an exclusive launch event for 'Family Offices in Singapore' was held online and on Deloitte’s premises in Shanghai for invited guests – many of whom are leading professionals in the private wealth industry.

The event featured presentations by Mr Dino Tan, Vice President & Head (Family Businesses & Family Offices) from the Singapore Economic Development Board (EDB), as well as renowned private client practitioners Mr Vikna Rajah from Rajah & Tann Singapore LLP and Ms Shantini Ramachandra, Southeast Asia Deloitte Private Tax & Legal Leader, who provided their insights into the significance of family offices and what Singapore’s family office landscape has to offer.

“Though Covid has brought uncertainty for many, it has also brought opportunities for business families, to think about longer-term issues like succession planning. On EDB’s end, it is not surprising that there had been many conversations with Asian and Western families about setting up of family offices in Singapore,” said Mr Dino Tan from EDB.

“With Singapore’s continued efforts to develop and enhance the environment for family offices and ultra-high net worth individuals to thrive in, the country has risen to become one of the best places to manage and grow your wealth.” said Mr Vikna Rajah, Head of the Private Client Practice at Rajah & Tann Singapore.

Ms Shantini Ramachandra, Southeast Asia Deloitte Private Tax & Legal Leader, added “With strong government support, and a vibrant ecosystem, accompanied by a robust framework of tax incentives and grants, Singapore continues to attract the affluent as a safe place for their wealth. As Singapore continues to reinvigorate and drive the growth of foreign investments and family offices, we, at Deloitte, are committed to providing support to these wealthy families to ensure their security, longevity and prosperity.”

This was followed by a panel and Q&A session, in which prominent figures in the private wealth industry discussed how Singapore’s existing efforts, supported by new frameworks in the pipeline, have enabled the city-state to gain an edge over Asian counterparts and become one of the most trusted jurisdictions for high net worth individuals to preserve their legacy and grow their wealth.

We are honoured to have had this invaluable occasion to share the
stage and release the publication, while also giving our esteemed guests the opportunity to learn more about the abundance of opportunities that Singapore presents.

Read the joint whitepaper 'Family Offices in Singapore' by Deloitte and Rajah & Tann here. 

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