A jurisdictional report on Singapore, by Sim Bock Eng, President of the STEP chapter in Singapore. She estimates that there are more than 200 single-family offices in Singapore. There are several factors that have made Singapore an attractive jurisdiction. In terms of options for the management of investments, which include limited partnerships, unitrusts and private limited companies, in 2020 Singapore created a new structure, called a 'variable capital company'. One special feature with appeal to families is the ability to pay dividends from capital whether or not there are profits. There are also several tax incentive funds managed in Singapore that are exempt from income tax. Trusts are another option - there are more than 60 licensed trustee companies. Using a single-family office can provide many benefits. The article helpfully lists features and requirements in detail, and concludes that "the core family office structure provides a foundation unto which various components - eg, trusts, family constitutions, philanthropic initiatives, etc - can be bolted on, scaled and tailored towards each family's specific needs".