Introduction As Singapore’s population continues to age, the significance of legacy planning and will preparation has never been more crucial. An increasing number of individuals are taking a proactive approach, enrolling in courses and educating themselves about the complexities involved in legacy planning and will-drafting. However, this intricate process is rife with potential pitfalls and […]

Introduction Single Family Offices (“SFO”) in Singapore must meet a variety of statutory and compliance requirements ensure the SFO remains in good standing with regulatory authorities. Here are the key components of the obligations of an SFO in Singapore: Corporate Secretarial Services: Engaging a corporate secretary is mandatory. The corporate secretary ensures compliance with corporate […]

Introduction Introduced in 2021, the Code of Conduct for Leasing of Retail Premises (the “Code of Conduct”) in Singapore represents a significant development in the commercial real estate landscape of the city-state. This initiative aims to create a balanced, fair, and transparent leasing environment for both landlords and tenants of a qualifying lease. By establishing […]

Introduction In Singapore, the landscape of family structures is slowly evolving, mirroring global trends towards more diverse familial arrangements. While the traditional nuclear family remains prevalent, an increasing number of families are embracing non traditional configurations, including same-sex couples, non-wedded cohabitating couples, and single parent households. However, amidst the celebration of diversity, there lies a […]

What is Tech@SG Tech@SG programme is administered by two government organizations, the Singapore Economic Development Board (“EDB”) and Enterprise Singapore (“ESG”). It aims to help fast-growing companies establish their core teams in Singapore and bring aboard skilled foreign talent. Under the programme, eligible companies are assisted in two aspects: Company-level endorsement to the Ministry of […]

Introduction In Singapore, where housing affordability is a significant concern, the government has implemented various measures to support its citizens in securing suitable accommodation. One such initiative is the Additional Buyer’s Stamp Duty (ABSD) concession tailored for single Singapore Citizen (SC) seniors (“the ABSD Concession”). ABSD The Additional Buyer’s Stamp Duty (ABSD) is a tax […]

Introduction On March 15, 2024, the Monetary Authority of Singapore (“MAS”) announced changes to the application process for the S13O and S13U tax incentive schemes for single-family offices (“SFOs”). Notable changes to the application process include MAS consolidating the old Annex A and Annex B stages and requiring all necessary information to be prepared for […]

Introduction As seasoned legal practitioners in the field of Estate Planning, we are accustomed to fielding inquiries regarding Wills and the probate process on a daily basis. Among the most frequent queries we encounter are: “What are the ramifications if the original Will cannot be located? Is the submission of a copy considered acceptable?” Such […]

Introduction Deputy Prime Minister and Finance Minister Lawrence Wong had announced on 16 February 2024, as part of the Budget statement, some revisions to the property tax payable by homeowners to help with the rising costs of living. Commencing on 1 January 2025, the annual value bands for the computation of property tax will be […]

Introduction Singapore has emerged as a global hub for digital innovation and tech start-ups – ranked as the 2nd easiest country to do business in globally[1], 5th most innovative economy in the world[2], having the 8th best startup ecosystem globally in 2023[3]. With the 2nd strongest IP regime in the world[4], nationwide digitally driven initiatives, […]

Introduction Legacy planning transcends the mere transfer of tangible assets to one’s descendants; it delves into the intangible impressions and enduring associations woven into the fabric of one’s name. With regard to tangible assets, the necessary arrangements and steps should be taken by the individual to ensure that his/her affairs are well-managed and planned to […]

Introduction Transactions rely on parties having sufficient capacity to deal with the asset in question. This is regardless of whether we are talking about a business, goods, or even real estate. In the case of real estate transactions, there is some guidance available on how to conduct the transaction if the owner has already passed […]

Introduction The onshoring of funds in Singapore provides a choice of various structures: this article discusses the difference between a single-family office structure and a private investment company. Both options enable investors to consolidate their assets, diversify their portfolios and manage their assets more efficiently. Utilising private limited companies, the structures limit a shareholder’s liability […]

Introduction Every so often, in the planning for the distribution of assets via a testamentary trust, testators (for the purposes of this article, the term “testator” is used interchangeably with the term “settlor” because the testator of the will is effectively also the settlor of the testamentary trust created by the testator’s will) would request […]

Introduction As the amount of Additional Buyer’ Stamp Duty is increased as part of the cooling measures to control the prices in the property market, we have seen an increase in property purchases utilising trust structures. In this month’s conveyancing article, we explore the implications of property tax and Seller’s Stamp Duty on residential real […]