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.
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