Navigating Wealth The Single Family Office in Singapore

1. FAMILY OFFICE | CORPORATE LAW | BUSINESS LAW | SINGAPORE BUSINESS LAW | CORPORATE LAWYER SINGAPORE | WEALTH MANAGEMENT | Lawyer HOME NEWS ABOUT US PUBLICATIONS LANDING PAGE ASK A QUESTION NEWSLETTER FIND A LAWYER Search … SUBSCRIBE TO GET SG CORPORATE LAW UPDATES Subscribe to our Free Newsletter today and get Singapore corporate and commercial law updates to help you grow your business. We have tips for SME Owners, Startups, Listed Company Owners and China Business Owners. First name or full name Email Corp Banking M&A/IB Single family o?ce Singapore – Latest Requirements in 2023 PRC Business SG Business Owners August 15, 2023 Asian Family Business, Private Client Work, Singapore Investment Migration - 新加坡投资移民 private client, Private client legal work, Single Family O?ce Startup admin Venture Capital Funds Single family o?ce Singapore – Latest Requirements in 2023 Audit/Compliance Startup Incubator By continuing, you accept the privacy policy Single family o?ce Singapore – Singapore has attracted many single family o?ce applicants in 2023 and as a result the Monetary Authority of Singapore (MAS) has received many applications.  This article highlights several key changes that have come to the fore in 2023. Free Subscription Search … RECENT POSTS Family o?ce Singapore requirements – Requirements Unpacked SG Immigration – A detailed overview for Singapore Pixabay at Pexels Singapore Law: Navigating Business Compliance and Regulations SINGAPORE FAMILY OFFICE SINGAPORE – SFO CLASS EXEMPTION Singapore Family O?ce Singapore –  After some discussion in parliament on anti-money laundering rules in relation to single family o?ces, the MAS has on 31 July 2023 introduced additional anti-money laundering requirements.  Currently under the Securities and Futures Act, as a single family o?ce does not manage third party assets, they can rely on either an existing class exemption from licencing requirements under the Securities and Futures Act or apply to the MAS on a case by case basis.  MAS has decided to harmonise all the exemption criteria for all SFOs operating in Singapore. Singapore money laundering – The impact of the raids on the 10 Fujian Gang Members on Family O?ce Setup in Singapore st 信托法律：新加坡财富管理的法规导 向 To qualify for the class exemption, SFO must: RECENT COMMENTS be incorporated in Singapore; ARCHIVES notify MAS and con?rm that it is in compliance with the qualifying criteria under the class exemption when they commence operations in Singapore; December 2023 F re e N ew s l e t t e r S ign u p Email Address November 2023 By continuing, you accept the privacy policy

2. October 2023 report annually on total assets managed after the end of each calendar year; and September 2023 maintain a business relationship with an MAS-regulated ?nancial institution that will perform anti-money laundering checks on these SFOs. August 2023 September 2022 March 2022 January 2022 December 2021 October 2021 August 2021 July 2021 June 2021 May 2021 April 2021 March 2021 February 2021 CATEGORIES SINGAPORE FAMILY OFFICE SINGAPORE – S13O / S13U TAX INCENTIVE Asian Family Business The Single Family O?ce Singapore is usually set up as a Singapore incorporated private limited company and will manage a Singapore company (a fund entity) (the “Fund”).  This Fund will usually be under Section 13O or Section 13U of the Income Tax Act 1947. Corporate and Commerial Law Family O?ce – 新加坡家庭办公 室 Singapore is also encouraging more Single Family O?ces to use Singapore as a base for overseas donations capped at 40% of the Donor’s statutory income.  Such qualifying single family o?ces must: Immigration – 新加坡移民 News Appoint and maintain Philanthropy Professional (inhouse or outsource) PRC Business Owner Incur additional local business spending of S$200,000 Private Client Work Employ one additional local Professional Headcount Private Equity – SGX Listings Singapore Family O?ce Singapore – There are new additional spending requirements that have been imposed on the new family o?ces that are coming into Singapore whereby 10% of the Assets Under Management must be invested into Singapore companies or other Singapore securities.  There are additional anti-money laundering and know your client requirements in the works.  All family o?ces going forward need also to have at least one bank account in Singapore with a ?nancial institution. Singapore Investment Migration – 新加坡投资移民 Singapore Real Estate – 新加坡 房地产 In conclusion, there are many new conditions that Single Family O?ces Singapore need to comply with in terms of registration and ongoing compliance.  One should consult a Singapore quali?ed law ?rm to advise you in relation to such requirements.  Singapore is constantly innovating in the space of Single Family O?ces so the applicable conditions and compliance requirements keep on changing.  Singapore REIT – 新加坡房地产 信托 Singapore Trust – 新加坡家族信 托 SME Company – 中小企业 Startup Company Succession Planning – 企业传承 Uncategorized META Log in Pixabay at Pexels Entries feed 新加坡独立家族办公室 – 2023年最新要求 Comments feed WordPress.org 新加坡已吸引了许多独立家族办公室的申请者，因此新加坡金融管理局（MAS）在2023年收到了许多申请。本文重点 介绍了在2023年浮现出来的一些关键变化。 SFO类别豁免 By continuing, you accept the privacy policy

3. 在新加坡议会对独立家族办公室的反洗钱规定进行了一些讨论后，MAS于2023年7月31日引入了额外的反洗钱要求。在新加坡议会对独立家族办公室的反洗钱规定进行了一些讨论后，MAS于2023年7月31日引入了额外的反洗钱要求。 根据《证券和期货法》，由于独立家族办公室不管理第三方资产，它们可以依赖于《证券和期货法》下的现有类别豁 免或按情况向MAS申请。MAS决定统一所有在新加坡运营的SFO的豁免标准。 要符合类别豁免的条件，SFO必须： • 在新加坡注册成立； • 在开始在新加坡运营时，通知MAS并确认其符合类别豁免下的资格标准； • 在每个日历年结束 后报告其管理的总资产； • 与一家受MAS监管的金融机构保持业务关系，该机构将对这些SFO进行反洗钱检查。 S13O / S13U税收激励 新加坡独立家族办公室通常以新加坡注册的私人有限公司的形式设立，并将管理一个新加坡公司（基金实体）（“基 金”）。该基金通常受到《所得税法》1947年第13O条或第13U条的规定。 新加坡还鼓励更多的独立家族办公室将新加坡作为海外捐赠的基地，捐赠额度上限为捐赠者的法定收入的40%。符合资 格的独立家族办公室必须： • 任命并维持慈善专业人员（内部或外包） • 发生额外的本地业务支出，金额为新币200,000 • 雇佣一名额外的本地专 业人员 总之，新加坡独立家族办公室在注册和持续合规方面需要遵守许多新的条件。您应该咨询一家新加坡合格的律师事务 所，以就此类要求向您提供建议。 If you need Private Client Legal Services to set up a Single Family O?ce in Singapore, do click here to schedule a complimentary meeting with our Private Client Legal partner who can look into your speci?c requirements.       https:/ /www.SingaporeLegalPractice.com is a corporate law and commercial law educational website headquartered in Singapore which aims to demystify business law and 新加坡商业法 for SME Company Owners, Startup Founders and 新加坡新移民老板。The information provided on this website does not constitute legal advice.  Please obtain speci?c legal advice from a lawyer before taking any legal action.  Although we try our best to ensure the accuracy of the information on this website, you rely on it at your own risk.  Click here to signup for our newsletter today to be kept updated on the latest legal developments in Singapore.   Celebrating Gratitude: My Re?ections on Singapore National Day 2023 (新加坡国庆日 2023) – NDP Singapore Singapore family o?ce requirements – 3 key changes as of August 2023 Copyright Singapore Legal Practice 2021 Lawyer Landing Page | Developed By Rara Theme. Powered by WordPress. By continuing, you accept the privacy policy