Single family offices: Opportunities, challenges and tax considerations

This episode discusses what is driving the surge and challenges of setting up single family offices (SFOs) in Singapore and the shifting tax landscape families must navigate.   

Key takeaways: 

• Rapid growth of Singapore's SFO ecosystem: Singapore's political stability, strong wealth management infrastructure, multicultural society and education system make it a preferred hub for long-term family wealth planning.  
• Setting up an SFO is not a cookie-cutter approach: Families need to consider their goals and objectives early during planning and avoid generic structures as no two families are alike.   
• Incentives and tax considerations: Families need to stay updated as rules, global tax developments and compliance standards evolve.   

The success of an SFO hinges on early planning, clarity of purpose and staying agile amid evolving tax rules and global trends. With the right structure and advisors, families can preserve wealth, strength governance and build legacies that endures across generations.

Presenters:  

• Amy Ang, Head of Tax, Ernst & Young Solutions LLP; EY Asean Managed Services Leader 
• Cedric Tan, Partner, Private Client Services, Ernst & Young Solutions LLP 
• Spencer Hsu, Associate Partner, Private Tax Services, EY Corporate Advisors Pte. Ltd.