Public Speaking

Singapore Single Family Office Conference - Taxation, Governance, Structuring and Related Emigration


Date and Venue TBC


 


SUMMARY


The conference will consider the typical lifecycle of a Singapore Single Family Office, from creation, ongoing administration through to potential termination and windup taking into account tax implications, governance challenges and structuring options as well as related emigration planning opportunities.


AGENDA




Single Family Office: Taxation


1. Overview: Family Offices in Singapore


  • Growth in Single Family Offices

  • Reasons why clients set up a Single Family Office

  • Key features of Singapore Single Family Office

  • Singapore Government’s long term plan to develop Singapore as an International Financial Hub

  • Current trends, including the rise in clients from North Asia (Mainland China, Hong Kong and Taiwan) and more scrutiny on applications by Singapore authorities



2. Initial Considerations - Comparison of Tax Incentives


  • Overview of the fund incentive schemes with 13R and 13X being the key schemes

  • Similarities and differences in terms of the requirements and typical structures

  • Current trends, including the recent popularity for 13R due to the shift away from offshore jurisdictions but also the benefits that remain for 13X for some clients



3. Ongoing Implications of Family Offices - Taxation of Distributions


  • What to consider once the Family Office is set up?

  • Comparison of the taxability of distributions to different owners of the structure i.e. individual, trust, company and partnership

  • Consideration of the effective tax rates for each of the above



4. Ongoing Implications of Family Offices - Pitfalls


  • Additional implications to consider in changing and evolving the ownership structure

  • Reconfiguration and Termination of Family Office and its implications



 

Single Family Office: Governance


1. Governance explained:


  • Governance vs. Succession Planning

  • Family Governance vs. Executive Governance



2. Family Office: Ownership Options, Governance Implications:


  • Corporate Structure - Shareholder Governance

  • Trust Structure - Trustee | Protector Governance

  • Partnership Structure - Limited Partner | General Partner Governance

  • Family Charter Governance



3. Family Office: Key Governance Challenges


  • Family Member Employment Policy

  • Family Member Removal/Termination Policy

  • Family Office Income and Capital Distribution Policy

  • Family Office Investment Strategy and Oversight

  • Family Office Fraud and Abuse of Power


4. Family Office, Governance Trust solution, explained


  • Governance Trust vs. Family Trust

  • Governance Trust vs. PTC Governance

  • Governance Trust, Decision Making Forums: Family Assembly, Family Council and Executive Council

  • Governance Trust and Family Office Legal Integration Options



 

Contact Zac if you'd like to be notified on this event.