For the last decade, Asia has been an increasing power in the global economic growth. Wealth in Asia has been created at a remarkable pace. It is not surprising that Asian families are now planning ahead and institutionalizing the management of their family wealth and also to prepare for the transition of wealth to the next generation.
Singapore’s solid reputation for political stability, strong regulatory framework and efficient labour force, together with its unique mix of Western and Eastern cultures, had established itself as one of the financial hubs of the world.
Being the long-time favourite financial hub for Asian families, it is natural that these Asian families choose to set up their family offices in Singapore.
While the majority of family offices in Singapore are established by Asian families, there has been an increasing growth for traditional “western” families setting up their family offices in Singapore. By having their family offices in Singapore, they are able to use Singapore as a gateway for their investments into Asia.
Our practice has been at the center of this global economic growth for over 10 years. We have extensive experience in the setting up of family offices in Singapore and regularly advise on estate planning matters including wills, trusts, family governance/constitution and family/shareholders’ agreements.