Updates to the Application Criteria for Family Offices under the S13O and S13U Tax Incentive Schemes

By Leon Yee and Jennifer Lo

In recent years, Singapore has attracted large inflows of wealth to be managed here, establishing its status as a leading wealth management hub in the region. This is largely thanks to the rule of law, economic and political stability, welcoming investment climate and business-friendly environment in Singapore, which have all played a pivotal role in attracting high net-worth individuals to invest in Singapore.

According to the Global Family Office Compensation Benchmark Report recently published by KPMG Private Enterprise and family office consultancy Agreus, it is estimated that 59% of the family offices in Asia are located in Singapore. The number of single family offices (“SFOs”) in Singapore has leapt from 700 in 2021 to 1,100 as of the end of 2022. Continue reading “Updates to the Application Criteria for Family Offices under the S13O and S13U Tax Incentive Schemes”

Selvam LLC Secures Discharge Not Amounting to an Acquittal for Singaporean Director

SINGAPORE, 15 May 2023―Selvam LLC achieved a significant outcome in the case of Goh Toh Heng, an elderly director charged with acquiring ill-gotten gains totaling over $405,000. Goh has been granted a discharge not amounting to an acquittal, while the possibility of future prosecution remains if new evidence emerges. Continue reading “Selvam LLC Secures Discharge Not Amounting to an Acquittal for Singaporean Director”

Duane Morris & Selvam Advises on Two of the India Business Law Journal’s Deals of the Year 2022

SINGAPORE, 25 March 2023―Duane Morris & Selvam LLP advised on two of the India Business Law Journal’s Deals of the Year 2022: Life Insurance Corporation of India’s (LIC) initial public offering, which is the largest IPO ever in India, and DreamFolks Limited’s IPO. Continue reading “Duane Morris & Selvam Advises on Two of the India Business Law Journal’s Deals of the Year 2022”

解读新加坡更新版全球投资者计划(GIP)

新加坡的全球投资者计划(以下简称“GIP”)是由新加坡经济发展局(以下简称“EDB”)推出的一项永久居留权计划,旨在鼓励高净值个人和企业家在新加坡进行投资。该计划为有愿意投资大量资金的合格申请人提供了获得新加坡永久居留权的快速路径。

在EDB最近的一份公告中,该计划将在今年3月发生一些变化。此次调整是为了更好地筛选并吸引有能力为新加坡带来重大经济影响的投资者,同时使他们在新加坡扎根。希望高净值外国投资能更积极地参与到新加坡的经济活动中,共同推动当地的经济增长。

Continue reading “解读新加坡更新版全球投资者计划(GIP)”

设立家族办公室的5大常见Q&A

近些年,家族办公室(Family Office,简称“家办”)这个概念逐渐兴起并受到大众的关注,申请家办的客户大增。根据新加坡联合早报2022年10月8日的报道,新加坡金融管理局待批的家族理财申请就多达600家,如果全部获批,引进新加坡的资金保守估计达120亿元。

那么家办究竟是怎样的一个机构,它有什么功能?家办应该设立在哪里?在新加坡设立家办有什么优势?就上述常见的问题,本所的合伙人于岚女士给出了专业的解答。 Continue reading “设立家族办公室的5大常见Q&A”

The Complex Commercial Litigation Law Review: Singapore


OVERVIEW

Contract law in Singapore is rooted in English common law. Following Singapore’s independence, Parliament chose not to codify the law on contract, although certain English statutes relating to specific areas of contract law were incorporated into Singapore law, including the Misrepresentation Act, Unfair Contract Terms Act, and the Sale of Goods Act. Accordingly, developments in the law of contract in Singapore have been led by the court.

Historically, decisions in the courts of England, Wales, Australia and other Commonwealth jurisdictions have been persuasive. Over the past two decades, Singapore courts have developed their own unique jurisprudence and may be considered as a global thought leader, particularly in the area of contract law.

Developments in contract law in Singapore mirror the nation-state’s business-friendly emphasis on freedom of contract, clarity and certainty of enforcement, particularly across borders.

In a further move to increase the sophistication of its jurisprudence and expand the scope for the export of Singapore law, Singapore has also established the Singapore International Commercial Court, which offers a panel of international judges, the possibility of foreign legal representation, and limits to the right of appeal to Singapore’s apex court.

Continue reading “The Complex Commercial Litigation Law Review: Singapore”

Selvam LLC Welcomes Director Jerald Foo to Firm’s Litigation and Dispute Resolution Group

Singapore, 14 November 2022―Jerald Foo has joined Selvam LLC as a Director in the firm’s Litigation and Dispute Resolution Group at its Singapore office. Jerald focuses his practice on commercial litigation, arbitration and mediation, having significant experience with complex commercial disputes both as a practitioner in a leading international law firm and as a former judicial officer.

Continue reading “Selvam LLC Welcomes Director Jerald Foo to Firm’s Litigation and Dispute Resolution Group”

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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