SINGAPORE – As at June 2022, about 1,400 Singaporeans and permanent residents were employed by single family offices (SFOs) that had applied for and been awarded tax incentives. Many of the employees are earning more than $5,000 per month.

For Ms Kathryn Dioth, chief executive of the Hinrich family office and the Hinrich Foundation, an Asia-based philanthropic organisation for advancing sustainable global trade, discretion is among the traits sought after by the industry.

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