Glossary · SearchOffshore
What Is a Family Office?
A family office is a private entity that manages the financial, investment, administrative and sometimes personal affairs of one wealthy family (single family office) or multiple families (multi-family office). Family offices range from simple investment management vehicles to comprehensive organisations overseeing hundreds of millions or billions in assets across multiple structures and generations.
SFO vs MFO
Single vs Multi-Family Office
Single Family Office (SFO)
Serves one family exclusively. Fully customised to that family's needs, governance preferences and asset base. Typically justified above USD 100–200 million in investable assets, where the cost of a dedicated team is proportionate to the value created. The SFO team may include investment managers, tax advisors, legal counsel, accountants and administrators — all employed exclusively for that family.
Multi-Family Office (MFO)
Provides family office services to multiple unrelated families, sharing costs across the client base. Offers the capabilities of an SFO at lower cost for families below the SFO viability threshold. Major MFOs include Stonehage Fleming, Crestbridge, Ocorian and many others, primarily based in Jersey, Switzerland and Singapore.
Virtual Family Office
A model where a family co-ordinates services from external specialists — investment managers, tax advisors, lawyers, bankers — under a central co-ordinating structure but without a fully employed in-house team. A cost-efficient alternative for families between USD 30–100 million.
Embedded Family Office
A family office function embedded within the family's operating business — sharing resources and infrastructure with the business. Common for entrepreneurial families whose wealth is primarily derived from a single operating company.
Services
What a Family Office Does
- Investment management — oversight of the family's total investment portfolio across all asset classes: listed equities, private equity, real estate, hedge funds, direct investments, art, collectibles
- Consolidated reporting — a single view of all family assets across multiple structures, custodians, currencies and jurisdictions
- Tax planning and compliance — multi-jurisdictional tax filings, compliance with CRS/FATCA, economic substance monitoring, annual tax planning
- Succession and estate planning — trust and foundation structures, wills, shareholder agreements, family governance charters
- Family governance — family constitutions, investment policy statements, next-generation education, family council meetings
- Philanthropy — charitable giving strategies, foundation management, impact investing
- Administrative services — entity maintenance, banking relationships, bill payment, insurance, travel
Offshore Structuring
Offshore Family Office Structures
Many family offices use an offshore jurisdiction as the primary holding and administrative base, typically combining multiple structural layers:
| Layer | Structure | Jurisdiction | Purpose |
|---|---|---|---|
| Wealth holding | Discretionary trust or foundation | Jersey, Cayman, Guernsey | Succession, asset protection, forced heirship protection |
| Investment vehicle | Holding company or VCC | BVI, Cayman, Singapore | Holding listed and private investments; MAS incentive eligibility |
| Fund participation | LP interest in fund vehicle | Cayman, Guernsey, Luxembourg | Institutional PE, hedge fund, real estate exposure |
| Operating entity | Licensed fund manager or FO company | Singapore (MAS-licensed), Jersey | Investment management function; regulatory compliance; tax incentive eligibility |
| Banking | Private bank relationship | Switzerland, Singapore, Jersey, Luxembourg | Cash management, custody, credit, discretionary management |
FAQ
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