It is becoming increasingly popular for large family conglomerates to move to the next level of sophistication by setting up Family offices. Alternatively, as a first step, families are moving towards a governance structure with a family constitution being put in place and possibly reorganising the family holding structures to corporatize these holding entities.
In this regard, Tax could play a large part towards influencing the different possibilities available, including the consideration of Trusts or Foundations as well as obtaining various Tax incentives offered by the Singapore Government.
