Beijing Real Estate Family Establishes Singapore Trust and Secures GIP Approval
A comprehensive wealth succession plan combining a Singapore trust, family office structure, and Global Investor Programme approval — executed with discretion through our HanKun legal partnership.
Client Profile
The Xu family, headed by a Beijing-based real estate developer with a portfolio valued at over $200M spanning commercial properties in China, residential developments in Southeast Asia, and a growing allocation to global equities and fixed income. Mr. Xu, in his early 60s, was focused on ensuring smooth wealth transition to the next generation while establishing a permanent family presence in Singapore.
The Challenge
The family's wealth was concentrated in illiquid Chinese real estate assets held through a web of onshore Chinese entities with no formal succession framework. Mr. Xu wanted to establish a Singapore trust to ring-fence international assets, set up a single-family office to manage the portfolio professionally, and obtain Singapore permanent residency through the Global Investor Programme. The engagement required navigating Chinese outbound investment regulations, Singapore trust law, MAS family office requirements, and EDB's GIP criteria — simultaneously and with strict confidentiality.
Our Approach
Working through our strategic partnership with HanKun Law Offices, we designed a layered structure: a Singapore-licensed trust company as trustee, a purpose-built investment holding company beneath the trust, and a Section 13O family office vehicle to manage the portfolio with MAS tax incentives. HanKun's China team advised on compliant offshore structuring of existing assets under SAFE regulations. NovaLink prepared the GIP application, working closely with EDB to demonstrate the family's commitment to substantial economic activity in Singapore — including a minimum $10M GIP fund allocation into approved investments. Our corporate secretary team handled all entity formations, registered office, and ongoing compliance for the trust and family office entities.
Results
- Singapore trust established with HanKun as legal counsel in 10 weeks
- GIP approval granted by EDB for Mr. Xu and immediate family
- Section 13O family office approved by MAS with tax incentive status
- Comprehensive succession framework covering two generations and five beneficiaries
“This was the most important financial decision of my life, and I needed advisors who understood both China and Singapore at the deepest level. NovaLink and HanKun worked as one team — the legal precision, the regulatory knowledge, and the discretion were exactly what my family needed.”
Xu Zhengyang
Family Principal
Services Provided
Trust Establishment, GIP Application, Family Office Setup, Corporate Secretary, Wealth Succession Planning
Family Office / Real Estate
Industry
China, Singapore
Region