Singapore Private Equity and Venture Capital Landscape Series – Limited Partnerships

Limited partnerships (LPs) are commonly used globally as fund vehicles for both private equity (PE) and venture capital (VC) funds. In Singapore, LPs were created as a business vehicle by the Limited Partnerships Act in 2008 (the Act), which came into effect on 4 May 2009 as part of Singapore’s efforts to become a fund management hub.

Those efforts have been supplemented by a myriad of other measures including (a) the creation of variable capital companies (VCCs) by the Variable Companies Act 2018, which came into force only on 14 January 2020; (b) the establishment of several classes of fund management licences including the venture capital fund management licence; and (c) a favourable tax environment that includes a one-tier system of taxation of income, no capital gain taxes and an extensive network of double taxation treaties, as well as several incentive schemes and grants. We will discuss these measures in more detail in other articles. Continue reading “Singapore Private Equity and Venture Capital Landscape Series – Limited Partnerships”

【财富岚海】专栏 | 如何理解普通法系的“Domicile居籍”?

21世纪的工作模式和生活模式意味着人们的流动性越来越大。而一个人与某个地方的连结——无论是因为出生在那里,或者在那里拥有财产,亦或是在那里工作,都会引发诸多实际的法律问题,尤其是在当地缴税的责任。在英美法系中,居籍(Domicile)这个普通法(Common Law)概念是非常重要的,常常被用作连结因素以断定当事人的税务责任。

居籍(Domicile)不是一个全球统一的概念,因此当一个人与一个以上的地区产生连结时,有时会出现没有或多个居籍的问题。一些国家采用相同的原则,但名称不同,而另一些国家则不把一个人的法律和税收待遇与他们的住所联系起来,而使用其他概念,如“惯常居所”或“公民身份”。本期我们先来介绍一下英国的居籍规则。

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Duane Morris & Selvam Advises on India’s Biggest IPO Ever

SINGAPORE, 24 May 2022 – Duane Morris & Selvam LLP acted as international legal counsel to the President of India and Life Insurance Corporation of India (LIC) on the recent sale of 3.5% of the outstanding shares in LIC by the president of India for approximately US$2.7 billion in an initial public offering in India and concurrent private placements outside India, including a Rule 144A offering in the United States. LIC’s IPO is the biggest in Indian history. The scale of the IPO was immense, with over 7 million applications received from retail investors in India alone. On its listing, LIC was the fifth largest entity in India in terms of market capitalization.

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Rise of Renewable Energy Certificates (RECs) in Singapore

During the recent Budget announcement in February this year, Minister of Finance Lawrence Wong stated that Singapore will aim to achieve net-zero carbon emissions by or around 2050, in line with our commitment to address the challenges of climate change.

Presently, the bulk of Singapore’s energy supply comes from natural gas, and the power sector accounts for about 40 percent of the country’s total emissions. This paired with growing environmental awareness in Singapore have started putting pressure on organisations to meet clean energy goals as investors and customers become more vocal about the importance of using green energy. This growing pressure from stakeholders has led to a rise in the use of Renewable Energy Certificates (RECs) by businesses, as a means of fulfilling their sustainability commitments and reducing their carbon footprint.

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区块链技术和NFT在新加坡的发展和规范

自2008年第一个数字货币比特币诞生以来,区块链技术在各个领域的应用都有了长足的发展。新加坡作为亚洲金融中心之一,也吸引了众多软件技术人员和投资者从事区块链技术相关的金融行业,包括NFT (非同质化代币)。NFT 市场既可以是Axie Infinity这种可以赚取数字资产的游戏平台,也可以是NBA TopShot 这种收藏品交易平台,还可以是Decentraland 和Earth 2这种可以进行数字财产买卖的元宇宙平台。

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An Overview on Development and Regulations of Blockchain Technology and NFTs in Singapore

Since the birth of the first digital currency, Bitcoin, in 2008, blockchain technology has developed significantly in various fields. As one of the financial hubs of Asia, Singapore has also attracted a wide range of software professionals and investors in the financial services industry involving blockchain technologies and nonfungible tokens (NFT). NFT marketplaces can be either gaming platforms for earning digital assets like Axie Infinity, collectibles trading platforms like NBA TopShot or metaverse platforms like Decentraland and Earth 2 where virtual properties can be bought and sold.

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新加坡私募和风投行业系列 – 简介篇

近年来,新加坡已迅速成长为全球资产管理行业(资管行业)的中心,众多投资者和资管经理汇集于此。2020 年,新加坡的资产管理总额 (AUM) 增长了 17%,达 4.7 万亿新元,高于 2019 年的 4万亿新元1。 这种强劲的增长是由大量流入的传统和另类投资资金所驱动的,包括私募股权 (私募) 和风险投资 (风投)。 那一年,私募和风投的资产管理总额分别增长了 54% 和 49%,达到 3,750 亿新元和 160 亿新元。 我们认为,新加坡资产管理规模将在未来几年将持续保持增长势头。

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新加坡家办门槛提高——深度解析金管局新政的底层逻辑

这几天,全网都在疯传下面这张图。不可否认最近移民突然成了热门话题!

4月11日,我们收到了新加坡金管局一封邮件,内容是关于新加坡家办13O/U计划的门槛大幅提高。大概就是图中戴教授所指的消息了。但是戴教授的表述不太严谨,新加坡家办免税计划并不是投资移民,实际上新加坡的投资移民难度远高于此。

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Singapore Implements Sanctions Against Russia

Ever since Russia’s act of aggression against Ukraine that began on 24 February 2022, the United States and several of its key allies have successively imposed significant sanctions against Russia. These sanctions range from prohibitions on trade and investment in certain regions of Ukraine and the designation of specific  nationals that cannot interact with the market and financial system of United States, to imposing new sovereign debt restrictions and even cutting Russia further off from the global economy by removing them from the Society for Worldwide Interbank Financial Telecommunication (aka SWIFT) messaging system and disconnecting them from the international financial system, making them no longer able to operate globally. On 8 March 2022, the Biden administration also announced that the United States would be banning the import of Russian oil.

Singapore has joined these efforts, with Minister for Foreign Affairs Dr. Vivian Balakrishnan issuing a Ministerial Statement in Parliament on 28 February 2022, stating that Singapore intends to impose its own sanctions against Russia. On 5 March 2022, the Ministry of Foreign Affairs (MFA) issued a press statement with two factsheets that set out the details of the economic sanctions and restrictions.

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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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