A Look Into Private Wealth Structuring between the UK and Singapore

ACC_BF007i

English

Course Description

Synopsis:

Singapore, despite her la petite population of just 5.7million, in fact, has one of the highest number of ultrahigh net worth residents whose assets total over 1 billion. According to a report by U.K. real estate company Knight Frank, the number of Singapore residents whose total assets exceed $30 million reached 3732 in 2020, an increase of 10.2% as compared to previous year. This goes to show that Singapore is becoming the world’s most sought-after locations for the super wealthy to set up family offices where the city state offers not only political and economic stability but as well ease of doing business. Moreover, Singapore’s friendly tax regime which is far lower than in Europe and the US, and free-market credentials, are seeing foreign funds and assets flowing in notwithstanding the pandemic. With such an inflow of affluence, the city state’s central bank is covering some of the costs of setting up variable capital companies (VCCs) until 2023 to encourage wealth transfers from other jurisdictions. It is also observed that the local luxury property market tops the location of investment homes after Britain, the US and Australia. Riding on the same coattails, how can you ensure that you are not left behind? Find out more as our speakers share insights and their experiences in managing assets in Singapore and UK. 

  • The appeal of Singapore
  • What are the typical UK HNWI structures?
  • Key areas to review from a SG perspective pre-arrival
  • A look at potential tax reform in the UK and how it can affect existing UK HNWI structures 
  • What to look out for when acquiring a property in the UK and the various UK taxes that might be involved

 

Intended For:

  • Audit Professionals / PAIP
  • Finance Professionals  / PAIB
  • Public Sector Finance
  • C-suite & Directors

Competency Mapping: 

  • CPE Category "Others" = 1.0 CPE Hour 

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Shaun Zheng

Shaun brings with him more than a decade’s worth of expertise in the areas of Singapore and international taxation, including but not limited to (re)structuring of investments, setting up of structures from a fiduciary and tax standpoint, entry and exit tax strategies, CRS / FATCA reporting and due diligence matters to a predominant pool of trusts and corporate service providers, fund management companies and family offices. Shaun’s key past and present clients include public-listed companies, multinationals and companies from the fund and private wealth industry. Shaun is a member of CPA Australia and also an affiliate of The Society of Trust and Estate Practitioners (“STEP”). 
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Anthony Whatling

Anthony has over 15 years’ experience of advising high net worth individuals, offshore trusts and family offices. He has also advised private banks and wealth managers on customer tax matters, such as the tax suitability of products and services. Notable client work and achievements Advising an ultra high net worth individual and his family office on all aspects of his personal tax affairs, including the impact of becoming deemed domiciled and the acquisition of a helicopter and landed estates. Advising individual clients and their family offices on the establishment of family investment companies. Advising individuals looking to move to or from the UK. 
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Henry Tan

Henry Tan, Group CEO & Chief Innovation Officer of CLA Global TS, has been serving as advisor to clients in Singapore and the region. As Group CEO, he manages the firm and grows its footprint to a major player in the market. Henry assisted companies especially entrepreneurs since 1993 to grow their business in Asia through IPO, M&A, Accounting & other advisory. He has many years of experience in China market. Henry also sits on the board of a number of listed companies.
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Course Rating

Speaker's Rating

1 CPE Hour

Lesson(s)

1

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