Discover how Sphere Private supports family offices with independent life insurance advisory, premium financing, and cross-border wealth structuring across the world’s leading financial centers.
Independent, Discreet, and Strategically Aligned
The world’s most successful families do not accumulate extraordinary wealth by chance. They build and sustain it through deliberate governance, thoughtful planning, and trusted advisory structures. The family office has emerged as the most sophisticated vehicle through which ultra-high-net-worth families manage, protect, and transfer wealth across generations. At Sphere Private, we work alongside single-family offices, multi-family offices, and families considering that transition — providing independent life insurance advisory and bespoke wealth structuring solutions that fit seamlessly within their broader governance and investment framework.
Our role is not to replicate what a private bank or investment manager already provides. Our role is to deliver the specialist insurance and protection expertise that family offices increasingly recognize as a critical and often underrepresented component of a complete wealth plan.
The family office sector has grown considerably over the past decade, driven by an accelerating global wealth transfer, the rise of first-generation liquidity events, and increasing complexity around cross-border tax, succession, and governance. Singapore has become one of the world’s most dynamic family office destinations, with the number of single-family offices growing from approximately 400 in 2021 to over 1,400 by 2024, reflecting a profound shift in how globally mobile families approach wealth management.
That growth is not limited to Singapore. Dubai has emerged as a formidable family office hub, attracting entrepreneurs, business families, and globally connected investors from across the Middle East, South Asia, and Africa. Hong Kong continues to serve legacy-oriented Chinese business families and international investors with multi-jurisdictional needs. Geneva remains a historic center for discretion, tax structuring, and intergenerational planning. London brings depth in legal and fiduciary expertise. And China’s growing ultra-wealthy tier continues to look outward for stable, sophisticated structures to protect and grow family capital.
Across all of these markets, family offices share a common priority: ensuring that the wealth they manage is protected, efficiently transferred, and strategically positioned for the long term.
A well-run family office typically manages investment portfolios, tax planning, legal compliance, philanthropy, and family governance. What is frequently underweighted — or delegated to generalist advisers without specialist expertise — is the strategic use of high-value life insurance.
Life insurance at the family office level is not a retail product. It is a precision instrument. It can fund inheritance tax liabilities, create immediate estate liquidity, protect key shareholders, facilitate business succession, and support the efficient transfer of assets across generations without requiring forced disposals or compromising portfolio integrity.
At Sphere Private, we work with family offices as an independent insurance adviser. That means we bring no conflicts of interest, no proprietary products, and no institutional agenda. We access the global insurance market — including leading carriers in Bermuda, Singapore, Hong Kong, the UK, and beyond — to identify the most suitable structures for each client’s specific circumstances.
Sphere Private provides a focused range of specialist insurance advisory services for family offices and corporates, including:
Whether the family office is newly established or multigenerational, our advisory is objective, discreet, and calibrated to long-term objectives.
Singapore stands out as one of the most well-regulated and internationally competitive family office jurisdictions in the world. The Monetary Authority of Singapore (MAS) administers two primary tax incentive schemes for single-family offices: Section 13O and Section 13U.
The Section 13O scheme is typically suited for mid-tier family offices with a minimum AUM of S$20 million at application, requiring at least two investment professionals, with at least one being a non-family member. The Section 13U scheme is designed for larger or more globally oriented family offices with a minimum AUM of S$50 million, requiring three investment professionals.
From January 2025, updated regulations now measure AUM requirements only against Designated Investments (DI), and local business spending has moved to a tiered model: family offices with AUM below S$250 million must spend at least S$200,000 annually locally, while those managing S$250 million to S$2 billion must spend at least S$300,000, and those above S$2 billion must spend at least S$500,000.
The MAS has also committed to processing family office tax incentive applications within three months, further strengthening Singapore’s reputation as a responsive and business-friendly jurisdiction.
For families entering or expanding through Singapore, Sphere Private can provide the specialist life insurance layer that supports the wider Singapore family office structure, from estate liquidity planning to cross-border protection aligned with regional governance requirements.
No two family offices are identical, and the planning priorities differ meaningfully from market to market.
In Dubai, families benefit from a jurisdiction with no personal income tax, no capital gains tax, and strong legal protections under DIFC structures. Insurance can play a powerful role in succession planning and cross-border estate coordination, particularly for business-owning families with interests across the Gulf, South Asia, and Africa.
In Geneva, the focus tends to be on discretion, precision structuring, and coordination across multiple European legal frameworks. High-value life insurance within trust structures is a well-established planning tool for ultra-wealthy European and international families.
In Hong Kong, families with Mainland China connections increasingly use life insurance to facilitate smooth wealth transfer, fund inheritance obligations, and create a clean, professionally managed separation between business assets and family legacy.
In London, inheritance tax planning remains a central concern for resident and non-domiciled families. Life insurance held within trust arrangements can provide immediate, tax-free liquidity to cover estate liabilities without forcing the sale of cherished assets.
In Singapore, the combination of favorable tax treatment, strong governance infrastructure, and a growing professional services ecosystem makes it one of the most compelling locations in which to integrate insurance within a family office framework.
In China, ultra-high-net-worth families are increasingly diversifying internationally and using offshore insurance solutions — often placed through Hong Kong or Bermuda-based carriers — to preserve wealth in a secure, portable, and confidential manner.
Family offices deserve advisers who bring independence, depth, and a genuine understanding of complex multi-generational planning. At Sphere Private, we combine technical expertise in high-value life insurance with a broad understanding of the challenges facing wealthy families across the world’s leading financial centers. Our approach is always client-led, discreet, and strategically aligned — built around long-term objectives rather than short-term transactions.
We have no product shelf to fill, no quotas to meet, and no institutional relationships that compromise our advice. What we offer is access, expertise, and a commitment to outcomes that genuinely serve the family’s interests.
Under the MAS Section 13O scheme, the minimum AUM at the point of application is S$20 million. For the Section 13U scheme, the minimum AUM is S$50 million. From January 2025, AUM thresholds are now measured only against Designated Investments rather than total assets, making the structure more targeted and efficient for qualifying families.
Beyond minimum AUM thresholds, operating costs include local business spending requirements that now follow a tiered model: S$200,000 per year for AUM below S$250 million, S$300,000 for AUM between S$250 million and S$2 billion, and S$500,000 for AUM above S$2 billion. Additional costs include staffing, legal, compliance, and advisory fees.
The Bank of Singapore is owned by OCBC Bank, one of Southeast Asia’s largest financial groups. Its family office services include the recently launched “Family Office Catalyst” solution, which provides UHNW clients access to institutional investment expertise and tax exemption eligibility without requiring the full infrastructure of a dedicated single-family office.
Singapore hosts some of the most prominent family offices globally, including those established by hedge fund billionaire Ray Dalio, Google co-founder Sergey Brin, and Mukesh Ambani of Reliance Industries. The Ambani family established their Singapore family office in 2022, with a broader goal of managing international investment and expansion.
Which Indian billionaire family offices are based in Singapore?
Mukesh Ambani of Reliance Industries is the most prominent Indian billionaire with a family office in Singapore, established in 2022. More recently, a new generation of successful Indian business families — including those with origins in technology, manufacturing, and private equity — have joined the Ambanis in setting up Singapore family offices, attracted by the jurisdiction’s tax efficiency, stability, and global connectivity.
Sphere Private Advisory Team
Independent Insurance Advisers to Families, Family Offices & Corporates
Sphere Private brings together a team of senior wealth planning and insurance professionals with decades of combined experience advising ultra-high-net-worth individuals, multi-generational family enterprises, and corporate groups across Dubai, Geneva, Hong Kong, London, Singapore, and China.
The team specializes in the structuring, placement, and management of high-value and jumbo life insurance policies — including Universal Life (UL), Indexed Universal Life (IUL), and Private Placement Life Insurance (PPLI) — within complex estate, trust, succession, and tax planning frameworks.
Operating independently from any single insurer or banking institution, Sphere Private’s advisory approach is built on three core principles: absolute discretion, technical depth, and client-first market access. The team works alongside family office investment managers, legal counsel, tax advisers, and trustees to ensure that insurance is intelligently integrated within a client’s complete wealth architecture.
Whether advising a single-family office in Singapore, a business-owning family in Dubai, or a multi-jurisdictional enterprise spanning Geneva and Hong Kong, Sphere Private delivers strategic outcomes aligned with long-term legacy objectives.
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Salah Mattoo is an experienced international lawyer and accomplished executive, currently serving as General Counsel and Head of Compliance. He specialises in dispute resolution, corporate and commercial transactions, regulatory compliance, and internal and external investigations across multiple jurisdictions.
Salah has acted in a range of high-profile international arbitration and cross-border litigation matters, representing corporate clients, sovereigns, and institutions in complex, high-stakes disputes. Salah's background includes advisory and leadership roles in sectors such as insurance, private equity, financial services, defence, commodities, energy, technology, and infrastructure.
In addition to his disputes practice, Salah has led the design and implementation of robust compliance programs aligned with international best practices, including AML, anti-bribery, sanctions, data privacy, ESG, and whistleblower frameworks. Salah regularly advises executive teams and boards on legal risk management, governance structures, and regulatory strategy.
With a strong track record in both contentious and transactional matters, Salah combines legal precision with strategic insight to support businesses navigating regulatory complexity and international growth. Salah is qualified in England & Wales, DIFC and ADGM. He has acted as lead counsel in international commercial courts, as well as in many international arbitrations seated in the leading arbitration centers, including Abu Dhabi, Dubai, Geneva, Hong Kong, London, New York, Paris, Riyadh, Singapore, Stockholm, Tokyo, Vienna, Washington and Zurich.
Salah holds a B.A. from University of California, Berkeley and an L.L.B and L.L.M. from The London School of Economics and Political Science (University of London).
Dubai · Geneva · Hong Kong · London · Singapore
Imran Khan is a seasoned expert in private wealth planning and jumbo life insurance solutions, with over 10 years of experience advising ultra high net worth individuals (UHNWIs), families, and family offices across multiple jurisdictions. With a deep understanding of global wealth structuring, legacy planning, and asset protection, Imran is recognized for delivering highly customized strategies that align with clients personal, business, and multigenerational goals.
Throughout his career, Imran has worked closely with private banks, trust companies, and legal advisors to design and implement sophisticated structures involving international trusts, foundations, holding companies, and life insurance-based estate equalization plans. His expertise includes:
Imran holds specialist accreditations in wealth planning and international insurance advisory and is a trusted advisor to clients across the Asia, Europe, Middle East and UK. Known for discretion, technical proficiency, and strategic insight, he has built enduring relationships with UHNW families seeking to preserve and grow their legacies in an increasingly complex regulatory environment.
Dubai · Geneva · Hong Kong · London · Singapore