The Family Office... What an extraordinarily elusive concept. Just google the term and a host of headlines attempting to explain this trend - particularly in Singapore and China - appears. However, what does it actually do?
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;
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;