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Knowledge Centre

Nature of Single Family Offices (SFOs)

How is an SFO (Single Family Office) set-up in Singapore?

  • An SFO is set up to the needs of a single family. An often-integral function of the family office is to manage the assets of the family in order to fund the needs of the family.

    Considerations when setting up a Family Office
    Depending on the amount of assets of the family and the needs of the family, the set-up of every family office is usually different.

    Some considerations when considering whether and what to include in a single-family office set-up include (non-exhaustive):

    • Types of assets – whether they are listed or private companies, or whether the assets need maintenance
    • Tax needs and planning of the assets and family members/beneficiaries
    • Immigration needs of family members
    • Needs of the family, e.g whether they need medical support services
    • Overall investment strategy
    • What expertise is needed and whether the professionals need to be in-house
    • Oversight of the running of the family office
    • Whether generational transfer considerations are needed
    • Whether a governance charter is needed

    *Running a family office typically costs 1% to 2% of a family's total active assets (e.g. investment portfolios and trust assets), or more.