Benefits of having a family constitution and how to start planning oneAugust 16, 2023Singapore: With the proliferation of family offices in Singapore, more questions on effective family governance have been raised. In this article, we will explore 10 key potential benefits of putting in place a family constitution, as well as the key questions to ask when designing said family constitution.
Updated conditions for single family offices applying for the 13O and 13U tax incentives (with effect from July 5, 2023)July 17, 2023Singapore: The Monetary Authority of Singapore recently issued new guidelines on the updated conditions for a Fund Company of a Single-Family Office that wishes to apply for the Section 13O or the Section 13U Tax Incentive Schemes under the Income Tax Act 1947. These updated conditions apply to SFOs that submit the Annex A (Preliminary Application) to the MAS after 5 July 2023.
Attracting the best: changes to the global investor programmeMarch 6, 2023Singapore: In a bid to attract higher quality investors and individuals interested in obtaining Singapore Permanent Residence status, the Singapore Economic Development Board announced on 2 March 2023 several changes to the Global Investor Programme’s (GIP) application criteria which will take effect on 15 March 2023. In this client alert, we will outline the key changes to the GIP’s criteria and comment how the more stringent criteria might affect high-net-worth individuals who are interested to migrate to Singapore under the GIP.