Singapore | Leading financial centre in Asia
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Singapore Authorities Increase Scrutiny of Family Offices, Family Office with Tax Exemptions to Provide More Information of Family Office by 30th June 2024, Provide Annual Declaration of No Prior or Ongoing Convictions or Charges of Money Laundering or Terrorist Financing Offences for Beneficial Owners, Shareholders, Directors & Authorized Representatives

13th June 2024 | Hong Kong

Singapore authorities have been reported to be increasing scrutiny of family offices (with tax exemptions), with the family offices to provide more information of family office by 30th June 2024 and to provide annual declaration of no prior or ongoing convictions or charges of money laundering or terrorist financing offences for the family office beneficial owners, shareholders, directors & authorized representatives.  Private Banks & banks have been reported to be holding $274 million (S$372 million) in Singapore $2.2 billion money laundering, with 10 individuals sentenced to jail while 17 have escaped and have not been arrested.  In 2024 March, Singapore central bank Monetary Authority of Singapore (MAS) Lawrence Wong (then-Chairman, Singapore Deputy Prime Minister, Minister for Finance) reply on family offices in Singapore – 1,400 family offices with tax incentives in Singapore at the end of 2023.  In 2024 February, Singapore announced in the Budget 2024 (16/2/24) with key changes including Extending tax incentives by 5 years for fund managers & family offices 13D, 13O & 13U to 31st December 2029 with new changes to take effect in 2025.   In 2023 December, Singapore central bank Monetary Authority of Singapore (MAS) increased due diligence checks on related individuals & entities for single family offices applying for tax incentives, with specialized firms to check for money laundering & terrorism financing risks.  At the end of 2022, 1,100 single family offices (SFOs) had been awarded tax incentives.  In July 2023, Singapore MAS launched a public consultation on money-laundering exemptions for single family offices with 4 criteria.  Singapore $2.2 Billion Money Laundering – Private Banks & banks are holding $274 million (S$372 million), Credit Suisse $58 million (S$79.6 million), Citi $58 million (S$79.3 million), UOB $30 million (S$41.6 million), OCBC & Bank of Singapore $28 million (S$38.6 million), DBS $21 million (S$29 million), and $76 million (S$103 million) held in more banks including Julius Baer, Deutsche Bank, Standard Chartered Bank, Maybank, CIMB Bank, RHB, ICBC & Bank of China.  Source of money from illegal online gambling & money lending, with total assets seized increased to $2.2 billion (S$3 billion), including 207 properties, 77 vehicles, $1.2 billion cash, $55 million cryptocurrencies, 68 gold bars, 483 luxury bags, 169 luxury watches & 580 pieces of jewellry.  10 foreigners who had been arrested are originally from China.  Update – 10 individuals involved in Singapore $2.2 billion money laundering had been sentenced to jail while 17 have escaped and have not been arrested.  

“ Singapore Authorities Increase Scrutiny of Family Offices, Family Office with Tax Exemptions to Provide More Information of Family Office by 30th June 2024, Provide Annual Declaration of No Prior or Ongoing Convictions or Charges of Money Laundering or Terrorist Financing Offences for Beneficial Owners, Shareholders, Directors & Authorized Representatives “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

SSingapore Authorities Increase Scrutiny of Family Offices, Family Office with Tax Exemptions to Provide More Information of Family Office by 30th June 2024, Provide Annual Declaration of No Prior or Ongoing Convictions or Charges of Money Laundering or Terrorist Financing Offences for Beneficial Owners, Shareholders, Directors & Authorized Representatives

Singapore | Leading financial centre in Asia



Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 23rd July2024 Investment Day Singapore 25th July2024 Investment Day Hong Kong 4th Sept2024 Investment Day Singapore 11th Sept2024 Family Office Summit Hong Kong 16th Oct2024 Family Office Summit Singapore 23rd Oct / 6th Nov












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleCitigroup Hires JP Morgan Head of M&A Southeast Asia Johannes Roth, More than 13 Years at JP Morgan in Hong Kong, Singapore, London & Germany Including Covering Natural Resources, Energy, Consumer & Retail
    Next articleCanada Manulife Financial Corporation Issues S$500 Million 10-Year Subordinated Bonds with 4.275% Coupon & Maturity on 19th June 2034, 5-Year Non-Callable with Coupon Reset at 5-Year SORA +1.201%, Expected to be Listed on Singapore Exchange
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia