Single Family Office
Hong Kong Family Office
This talent mix enables Hong Kong to play a unique role in the Belt and Road Initiative, facilitating in areas such as finance, legal support, logistics, sustainability, and good governance for family offices looking to tap into opportunities offered by the initiative. Hong Kong also offers an ideal base for families beyond Asia to undertake business dealings in countries that are members of the free-trade Regional Comprehensive Economic Partnership. Hong Kong government provides a profits tax exemption to family-owned investment holding vehicles (FIHVs) managed by single-family offices in order to attract the families.
Singapore Family Office
According to the Monetary Authority of Singapore, there were 1,500 family offices in Singapore by the end of 2022, managing around S$90 billion (US$66.8 billion) worth of assets. This is just under two percent of the S$5.4 trillion (US$4 trillion) of assets managed in Singapore. Singapore provides support to family offices through targeted tax incentives. These are covered under three schemes: onshore fund tax exemption scheme section 130 & 13D, and enhanced tier tax incentive scheme section 13U.