When setting up a family investment vehicle or a family office, how important is it to choose a suitable jurisdiction? STEP Singapore organised a talk on 25 May 2016 where two lawyers, one from Singapore and the other from Dubai, gave their respective perspectives.
The talk covered the key factors to consider when choosing a jurisdiction, such as:
- Regulations and its recognition in the world
- Tax Incentives and treaties
- Ease of operations
- Protection of Data and Confidentiality
Mr. Dennis Tan from RHT Law Taylor Wessing gave an update of the incentives available in Singapore and some structuring considerations. Whilst Singapore is currently ranked quite high on the chart as a preferred jurisdiction, he caution that the structuring and its operations must be done correctly.
Mr. Yann Mrazek from M Advocates of Law, Dubai gave a detailed presentation of what was available in Dubai. He acknowledges that Singapore ranks higher than Dubai in most of the key factors, but assures that Dubai is able to offer solutions that will suit certain requirements better than Singapore.
The event was well attended, where 41 delegates were registered.