Both Singapore and Hong Kong have put in place tax incentive schemes designed to encourage high-net worth private families to set up single family offices (SFO) and family-owned investment holding vehicles (FIHV) in their respective jurisdictions. In this client alert, we will compare the tax incentive schemes available in Singapore and Hong Kong, the conditions required to obtain the tax incentive, as well as outline some features of the SFO regime that are unique to each jurisdiction. An understanding of the nuances between these competing schemes is vital to any potential applicants looking to navigate the various conditions and determine which jurisdiction best suit their individual needs.
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