Family asset management in 2023
Healy Consultants Group provides our international Clients with complete Family wealth advisory & management solutions.
Family planning and asset management entities are legal entities that enable to make tax-efficient investments for a defined group of beneficiaries. A board of members manage these assets in accordance with the will of the founder.
Advantages of family asset management
- An effective management structures;
- Tax efficient;
- Increased investment returns;
- Separate family business and family wealth;
- Optimized management performance and reporting;
- Asset transfers are usually not subject to any estate taxes.
Family asset management jurisdictions and comparison
Comparison table for different family asset management jurisdictions:
| Family asset management entity | Liechtenstein (Stiftung) | Singapore (LLC) | Jersey (Foundation) | Luxembourg (SPF) | Cayman Islands (Excluded Person) |
|---|---|---|---|---|---|
| Our recommendation in order of preference | 1 | 2 | 3 | 4 | 5 |
| How long to set the entity up? | 2 weeks | 1 week | 1 month | 3 weeks | 1 month |
| How long to open company bank account? | 3 weeks | 6 weeks | 1 month | 1 month | 1 month |
| Regulatory license required? | No | No | No | No | No |
| Total engagement costs? | €32,195 | US$12,246 | £16,700 | €23,170 | US$31,472 |
| Tax exempt on investment profits? | Yes | Yes | Yes | Yes | Yes |
| Location of bank account | Liechtenstein | Singapore | Jersey | Luxembourg | St. Vincent |
| Bank signatory must travel? | No | Yes | No | Yes | No |
| Do you travel for entity setup? | No | No | No | No | No |
| Minimum capital requirement | US$30,000 | US$0 | £0 | €12,395 | US$0 |
| % of capital to be paid prior to formation | 100% | 100% | 100% | 100% | 100% |
| Allowed to carry out commercial activities? | Yes | Yes | Yes | No | Yes |
| Allowed to import/export? | Yes | Yes | Yes | No | No |
| VAT registration required? | No | No | No | No | No |
| Minimum number of directors/trustees/managers | 3 | 1 | 1 | 1 | 1 |
| Resident director/trustee/manager required? | Yes | Yes | Yes | No | No |
| Can manage and control subsidiaries? | Yes | Yes | Yes | Yes | Yes |
| Beneficiary information public? | No | Yes | Yes | Yes | No |
| Annual financial statement filing required? | No | Yes | No | Yes | No |
| Access to how many double tax treaties | 10 | 75 | 11 | 75 | 0 |
| Country stability rating (out of 100) | 100 | 97 | 90 | 94 | 89 |
