Aug 10, 2023Liked by Shinya Deguchi

Regarding the numer of family offices in Singapore, I have seen it so many times over the past couple months, and was wondering how many of that amount of FOs operate like a true FO; As far as I know, this sudden increase in Singapore is largely due to the 13O and 13X policies, and most of the FOs were setup for the purpose of applying employment pass visa in Singapore; The way they operate in essense is not different from simplying settup a private bank account;

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Yes, I agree. It is not the actual number of family offces in Singapore. I suspect the actual figure is a few thousands, but it also depends on how to define a family office.

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