Artificial intelligence (“AI”) is a powerful tool that has been widely deployed in various industries. Due to its great potential for a positive impact on the company that deploys it, the industry players have since been looking forward to acquiring AI-enabled tools to address the difficulties faced with KYC and AML compliance. Why the AI; or what benefits does the employment of AI entail?  With its automated nature, AI is able to solve a myriad …

The Benefit of Artificial Intelligence Enabled KYC (Know Your Customer) and Anti-Money Laundering Tools Read More »

Credence Consulting Pte. Ltd. has a team of qualified professionals to assist with your day-to-day risk management and operational needs. Our services are bespoke and can be tailored to meet the requirements of your business, allowing your investment professionals to focus on your core capabilities. Our services include: 1) Fund Operations Trade Settlement, Reconciliation and Confirmation Review of legal documents and service agreements Risk Management and Controls framework setup/review Investor relations support Outsourced trade operations …

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Written by Ian Tan The interests of various stakeholders are represented within a Company’s Board of Directors – the CEO, the founders, other senior executives, venture capitalists and/or other big investors, and shareholders with large holdings. The common law edicts on directors’ duties places the company’s interest as the paramount consideration for directors. Nonetheless, with the spotlights being shone on how corporate veils can be abused, there has been a call for measures to be …

Benefits Of Independent Directors And Why They Are Ubiquitous In Businesses Read More »

Written by Lim Wee Tek The Variable Capital Company (“VCC”) is a corporate entity structure under which several collective investment schemes (whether open-end or closed-end) may be gathered under the umbrella of a single corporate entity and yet remain ring-fenced from each other. It is similar to the open-ended investment company structure in the UK and protected cell company or segregated portfolio company structures in jurisdictions like Guernsey or the Cayman Islands. The corporate entity …

What is a VCC? Read More »

Written by Dave Lim Chia Chern Singapore has various tax incentive schemes under the Income Tax Act (Cap 134) (“ITA”) in addition to other tax incentives for funds managed by single family offices. These incentives and schemes allow for offshore and onshore investment vehicles to be exempted from income tax on certain designated investments. Onshore Fund Tax Incentive Scheme (Section 13R) Enhanced-Tier Fund Tax Incentive Scheme (Section 13X) Goods and Services Tax (“GST”) remission for …

Tax incentives currently available to Single Family Offices Read More »

Written by Claudia Ting Recent times have entailed multiple changes that Family Offices in Asia Pacific will have to face and adapt to in order to continue thriving. The recent Covid-19 pandemic has accelerated the shifts in investment focuses of the rising millennial generation, heightened focus on sustainable investing and technology, as well as a focus on philanthropic and social responsibility. The family office space evolves so rapidly that new trends evolve before “older” trends …

Upcoming Investment Trends for Single Family Offices Read More »