Singapore is regarded as one of the most prominent financial centre in Southeast Asia because it is adjacent to local and global private banks, investment banks and other financial service providers. It is also known for its stable governance and favourable business environment, so it’s popular as a base for many high net worth families to manage assets and invest globally.
The Singapore government has set up tax incentives for offshore and onshore funds managed by family offices to boost Singapore’s appeal as a leading wealth management centre. Please refer to our Introduction to Family Office in Singaporefor more details.
How to Set Up the Structure of a Single Family Office in Singapore?
A simplified description of the ownership structure of a typical family office is shown in the following figure:
How Long Will it Take to Set Up a Single Family Office?
The timeline for setting up a single family office is shown below:
KAIZENGroup is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, and application for various business licences and permits in Singapore. Please call and talk to our professional consultants for details.
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
Pursuant to the Animal & Veterinary Service (AVS), a division of the National Parks Board (NParks), which announced the finalized Cat Management Framework on 11 May 2024, all pet owners must apply for a new cat licence from AVS and implanted with a microchip. Microchips provide the best form of permanent identification for your pet, utilizing a tiny transponder the size of a grain of rice
Online veterinary dispensaries (e-vet dispensaries) refer to any electronic means of providing dispensary services for health products intended for use in animals, which include, but are not limited to, the following: Allowing consumers to purchase or submit purchase orders for health products intended for use in animals;
Choosing the right company name is important. The name of your company will define its image, and will also be what your customers identify your business and company with. Marketing considerations aside, you also have to ensure that your chosen company name will be approved for registration by the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) in the first place.
A company may apply to the Accounting and Corporate Regulatory Authority (ACRA) to strike its name off the Companies Register if it is no longer carrying on business. This process is known as "striking off" a company. Please do not close the company's bank accounts until all outstanding matters are settled. Once the company's bank account is closed and there is a tax credit owing to the company