Generally, a family office is an entity that assumes the day-to-day management and administration of the assets and wealth of high net worth individuals or families. Wealth preservation and growth are common objectives when establishing a family office, and clients may consider using such a vehicle to focus on the functions of investment management, tax planning, estate and succession planning, and philanthropic planning.
As clients will often enter into arrangements with professional advisors for wealth management services, we work closely with our corporate practice and funds practice to advise our clients on the structure of their family office, ensuring that such arrangements achieve our clients’ goals and are in compliance with Singapore law.
In recent years, there has been a reported increase in the number of family offices, or private investment vehicles, being set up in Singapore. According to Reuters, over the period between 2015 and 2017, the number of family offices in Singapore has quadrupled. In this article, we discuss some of the exemptions from licensing requirements applicable to single-family offices.
The Family Offices Team
Pradeep acts for corporations, whether they are private or listed companies, on all aspects of their business including advice and drafting of documentation on investments, joint ventures, mergers and acquisitions and restructurings. For 2020, IFLR1000 has ranked him as “Highly Regarded” and The Legal 500 Asia Pacific has ranked him as a “Recommended” lawyer.
Amit’s practice focuses on corporate law, investment funds, mergers and acquisitions and regulatory and compliance matters. He has over 15 years’ experience in these areas of law. Amit’s expertise has been recognised in Legal 500 Asia Pacific, 2020 as “Recommended Lawyer for Corporate and M&A as well as Investment Funds”. In December 2016, Amit was named by Singapore Business Review as one of the 70 most influential lawyers in Singapore under the age of 40.
In addition to Li Fei’s experience in acting for banks on varied transactions and in general corporate law, he also helps individuals in estate planning, including the legal aspects of wealth management, advising on and setting up trusts and off-shore structures to secure their future and the future of their families. Li Fei is “Recommended” by the Legal 500 Asia Pacific 2020. Find out more about Li Fei and the CNPupdate articles that he has contributed which showcase his expertise in this field of practice, one in particular – Guide to Family Offices – A Legal Perspective.