Empowering families on their wealth planning journey in Singapore
Setting up a single family office
Affluent families have been prompted to reconsider their strategies in light of heightened uncertainty. With an increasing number of wealthy families holding global assets and residences, the importance of wealth preservation, transfer, and succession planning has surged.
In response to these evolving needs, Deloitte has published a comprehensive guide aimed at assisting entrepreneurial families looking at structuring their wealth and asset management. The guide provides insights into why Singapore is an attractive location to establish a single family office, citing several compelling reasons:
- political and economic stability
- a leading financial hub and is a gateway to Asia
- a robust local wealth management ecosystem
- a wide range of fund structures
- an attractive tax regime
- excellent infrastructure
Deloitte's guide aims to empower enterprising families in navigating the complexities of wealth management, aligning their strategies with the unique advantages offered by Singapore's favorable environment.
The publications, available for download in English, Simplified Chinese, and Traditional Chinese, have been updated to incorporate the revised conditions for Section 13O and 13U fund tax incentive schemes for family offices, which came into effect on July 5, 2023.
