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Family Office / Investment Holding Company

Family Office Investment Holding Company

If you’re an Australian, and would like to perform Tax Planning on your Retirement Funds, we assist with the following:

  • Create a financial instrument to assist you to have a good return & save taxes

Singapore been working to promote as Asia New “Swiss Banking Haven” hence been making a series of legislation changes from taxation, administration and trust law to promote private banking. At Paul Hype Page & Co, where our HQ is based in the Singapore, we can assist you to set up the most tax efficient and asset protection structure.

 

Singapore Foreign Trust

Singapore foreign trust an attractive planning vehicle for the international private client to achieve tax effective wealth preservation, estate planning, and succession planning objectives.

 

Why a Singapore foreign trust?

Section 13G of the Income Tax Act exempts specified income from designated investments derived by an eligible holding company or a foreign trust, which is administered by a

Trustee company. Under the Income Tax Act a “trustee company” means a trustee company licensed under the Trustee Companies Act 2005 or a company such as Paul Hype Page & Co, a Public Accounting Firm that is exempted under that Act from holding a trust business license.

For Client who wants 100% Confidentiality, The Singapore tax law does not require the disclosure of the identity of the settlor nor the beneficiaries of a foreign trust. There is no requirement for the foreign trust to be registered, nor for the trust ‘Deed of Settlement’ to be filed with any government authority.

 

Who is Suitable for Singapore Foreign trust

(i) individuals who are neither citizens nor residents of Singapore,

or

(ii) foreign companies1, and includes a unit trust that is beneficially owned wholly by such individuals

or foreign companies

 

Singapore Private Trust Company

A private trust company is a corporation formed for the express and sole purpose of acting as the trustee of a specific trust or group of trusts. It does not otherwise

carry on business as a trustee company.

 

Why a Singapore Private Trust Company?

The section 13G income tax exemption is available to a Singapore foreign trust which has a Singapore private trust company as its trustee.

If the Singapore private trust company is resident in Singapore for income tax purposes then it, and the foreign trusts of which it is trustee, may be able to obtain the benefits available under Singapore’s double tax agreements. If so entitled, then foreign withholding taxes on income remitted to the Singapore private trust company as trustee of the foreign trust, may be reduced.

 

Who is Suitable for Singapore Private Trust Company:

It is suitable for family members  as to qualified as a Singapore Private Trust Company each beneficiary of the trust(s) is a connected person to the settlor of the

trust(s), and each settlor of such a trust is a connected person in relation to any other settlor of any other trust

to which that corporation provides trust business services. “Connected person” is defined in the Regulations

and includes, inter alia, all relationships established by blood, marriage and adoption.

 

Family Owned Investment Holding Company

It is a Singapore company that that is widely used to hold foreign investments for both corporate investors and private clients.

 

Why a family owned Investment Holding Company?

It is useful for wealth management or success planning vehicle for its tax efficient as when qualifies as a Qualifying Family-Owned Investment Holding Companies  FIHC will be exempted from tax on all foreign sourced income remitted into Singapore as well as most types of Singapore sourced income.

 

Who is suitable for family owned Investment Holding Company?

– Suitable for carrying  on the principal activity of holding or making investments.

–  Be beneficially owned by an individual or individuals.

 

Family Office / Investment Holding Company FAQs

Which Business Entities do not qualify for the Start-up tax exemption scheme?

Not all business entities in Singapore are eligible for the government’s tax exemption. Only private limited companies, foreign subsidiary companies, foreign branch companies, and Singapore offshore companies qualify for it. Therefore, business entities such as sole proprietorships, partnerships, and limited liability partnerships may not receive the tax exemption.

What are the most recent changes to Singapore’s income Tax Rates?

Singapore’s current maximum personal income tax rate is 22%. This represents an increase from the prior maximum rate of 20%. On the other hand, the corporate income tax rate has steadily declined over the years. It once sat at 26% but is now at 17%. 

Why must Singapore have Tax exemptions on International air travel and shipping Income?

The countries to which these tax exemptions apply are heavily involved in shipping and air routes to and from Singapore. Therefore, these exemptions encourage the people of these countries to continue to engage with and conduct business activities in Singapore.

 

 

Paul Hype Page & Co. will give you more information and assistance on policy updates, compliance regulations and changes to tax conditions. Corporate tax in Singapore.

Our team of seasoned professional can also help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.

 

Paul Hype Page Can Help

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Here, you will find detailed information about Singapore’s Corporate Tax System. Paul Hype Page & Co helps companies with strategic tax planning, tax advisory, and accountancy services.

  • Singapore Tax Planning
  • International Tax Planning

IRAS (Singapore’s Tax Authority) governs Singapore’s tax system, helps develop a stronger economy, better environment and a more vibrant economy. All companies, regardless of industry, have a legal duty to pay taxes.

Singapore attracts investments from around the world by reducing its corporate income tax rate and introducing different tax incentives. Singapore has one of the lowest corporate tax rates in the world.

As your company’s Tax agent , Paul Hype Page & Co Chartered Accountant  will be fully responsible for the practice of ensuring that these conditions are met. It is important that we be highly qualified and well versed in local regulations and corporate laws, as we are responsible for the upkeep of important company files, tax reports and tax records.