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Offshore Family Office Structures
In addition to professionalized and personalized offerings, Family Offices have also undergone a significant shift in their operations. There is now a greater focus on accessibility to information, real-time analytics and reporting, and customized solutions to widespread problems like cybersecurity. As a result, digitization has become inevitable, leading to modern Darwinism within this industry.
Family Offices must adapt to modern solutions like Big Data and Artificial Intelligence if they hope to provide comprehensive and meaningful solutions to their clients. Tech-driven advisories are more likely to offer holistic solutions that combine classical and behavioural finance, using utility functions to help clients select their preferences.
Consultycs offers A digital-first solution for the same.
- A digital focus allows easy access to help manage your wealth by providing competitive and transparent pricing to overcome the high barriers to entry and access our democratized family office solution.
- We acknowledge that careful consideration must be taken to safeguard families' data and privacy; hence, our tech team ensures that our cybersecurity exceeds industry standards.
Variable Capital Company (VCC)
The Variable Capital Company (VCC) is an enhanced form of the Singapore-incorporated company that is made especially for the asset management sector and used for collective investment schemes (CIS).
A new investment fund structure was introduced in Singapore in 2020, designed for investment funds to be established as a company limited by shares. VCC allows for the segregation of sub-funds, each with its own capital and liabilities, providing a flexible and tax-efficient investment vehicle for investors.
Why Singapore?
Singapore has long been an ideal choice for Asian ultra-high-net-worth individuals (UHNWIs) due to its:
- Attractive tax Structure
- Pro-business outlook
- More than 100 DTAs
- Established Fund management industry
- Stable political landscape
- Pathway to Singapore PR
The VCC further enhances Singapore's position as a world-renowned fund management hub.
Benefits of VCC
The government of Singapore launched VCC as a new corporate structure for investment funds in order to:
- Develop the asset management industry
- Flexible legal framework for investment funds in line with best practices globally
- Simplified and cost-effective solution for asset managers and their investors
- Provide a favourable tax regime for investment funds
- Strengthen investor protection by providing a transparent legal framework
Family offices must shrug off the fear of digitisation and embrace the change with open arms.
