Increasing Number of India-linked Family Offices Established in Singapore

The Economic Times of India[1] reports that Indian (U)HNWIs are increasingly establishing new family offices and personal investment companies in Singapore[2] based off of a literalist interpretation of a revised remittance regime covering overseas direct investment.

This remains subject to some regulatory uncertainty given prior informal adverse feedback by the Reserve Bank of India[3] but such structures continue to be set up based off of legal and tax opinions issued on the topic.