On August 24, the Society of Trust and Estate Practitioners (“STEP") held a symposium titled “What’s Next after the Family Office?" at the NTUC Centre in Singapore. The symposium discussed the emerging family office regime in Singapore and what lies beyond, as well as next steps to take to ensure family structures remain efficient, compliant, and fit for purpose moving forward. The symposium also examined various issues that a family office would encounter as it takes the journey along with a family.
Hengka (Henry) Ji, a partner with Zhong Lun Law Firm, was invited to deliver a speech at the symposium, sharing main considerations and practical issues encountered by UHNW families in establishing family offices in Singapore, Hong Kong, and elsewhere. Mr. Ji contributed his insights from various perspectives, including structure planning, cross-border investment, tax incentives, identity planning, privacy protection, etc., and explored how to better integrate the overseas single family office model with the real needs of Chinese UHNW clients, while taking advantage of other legal structures and tools (such as trust, private trust company, variable capital company, and insurance policy). Representatives and guests from international private banks, law firms, trustees, universities, family offices expressed huge interest in Mr. Ji’s insights and engaged in a lively discussion.