Singapore Sees Swelling Interest for Family Offices From Taiwan’s Ultra-Rich

Singapore has emerged as a go-to destination for family offices. Photo: VCG

(Straits Times) — Ultra-rich Taiwanese are looking at opening family offices in Singapore to protect their wealth, as Taiwan becomes a flashpoint in deteriorating United States-China ties.

Abner Koh, executive director for private client services (tax) at BDO Tax Advisory, told The Straits Times that BDO is seeing an “upsurge” in inquiries from the ultra-rich in Taiwan about setting up family offices — private firms for the very rich to manage their wealth and assets. Koh is personally handling up to 15 such cases.