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  • Writer's pictureNicole Chua

Singapore Has Approved More Than 100 Family Office Applications In First Four Months of 2022

Updated: Oct 12, 2022

30 MAY 2022

The Monetary Authority of Singapore (MAS) approved more than 100 applications to set up family offices in the first four months of the year, underlining Singapore’s growing stature as a preferred investment destination for the rich.

Global Family Offices and savvy Intelligent Investors are drawn to Singapore due to our strong rule of law, stable and competitive business environment and access to professional services, including banking, legal and accounting

While the MAS does not publicly disclose the total number of family offices in Singapore, the last official figure released, back in 2020, put it at 400.

This trend is driven by increased global awareness with more than half of family offices across the globe having increased or are acting on their plans to up their investments in the Asia-Pacific region.

It has been widely reported that many notable Global Investors and Innovators have chosen to base their private investment arms and family offices in Singapore including Li Ka-shing, Mukesh Ambani, Ray Dalio and James Dyson and Sergey Brin.

Singapore is often compared with Hong Kong, but in reality both jurisdictions having their own strengths and unique capabilities, and many family offices set up in both Singapore and Hong Kong to capitalise on the advantages and benefits offered by both locations.

How can Leading Edge help?

We are an experienced Fund Adminstration firm who can assist Family Offices and Fund Managers with their compliance requirements in Singapore.

We can provide a comprehensive solution to VCCs in the following ways:

  • Incorporate VCCs by assisting with structuring and advising from the perspective of tax, legal, regulatory and operational requirements of the VCC.

  • Assist with VCC drafting policies and procedures and VCC manager compliance.

  • Assist with fund manager licence application and providing outsourced compliance support.

For more information, please contact us today at Wayne@YourLeadingEdge.Asia.

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