The incorporation of a Singapore family office or investment holding company will allow an investor to benefit from many business opportunities and advantages.
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?
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
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.
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%.
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.
