台灣高資產人士選擇在亞洲地區成立家族辦公室之決策探討－以AHP層級分析為例

Abstract

台灣家族企業與累積財富要如何永續傳承，和諧完整的留財留愛；當第一代企業創始人年紀漸長、子女成年，會開始想將財富傳承下去給未來的世世代代，他們普遍會思考，如何公平分配才能保有家庭和諧。隨著近日國際情勢包括COVID-19疫情與烏俄戰事讓系統性風險增加，此時香港與新加坡陸續發表設立家族辦公室申請辦法，讓華人高資產人士紛紛前往諮詢，導致家族辦公室服務的需求日益增加。 家族辦公室由於是私人公司常會保有神秘色彩，但事實上在歐美地區行之有年，主要是由超高淨值家族設立以提供家族成員私人財富管理、稅務規劃、法律諮詢、家族財務、及慈善捐贈；同時也傳承無形的家族核心價值觀與家族名譽。 台灣高資資產家族選擇在亞太地區設立家族辦公室普遍考慮哪一些因素，各因素在他們心目中權重又佔多少？本研究透過專家深度訪談方式探討家族辦公室在亞太地區的運作模式、發展情況、以及監管措施，並擬出高資產人士最注重因素，接著利用AHP層級分析法剖析權重排行，得出以下：（1）政治穩定、（2）稅務優惠、（3）維護成本、（4）移民機會，而且新加坡是比香港更理想的設立家族辦公室之地點。 最後，本研究利用得出結果，借鏡新加坡相關政策提議了一個未來主管機關在發展台灣家族辦公室產業可參考的運作方面監管具體建議。

How can the family business sustain and accumulated wealth passed on to the future generations? This is the one question that keeps founders of Taiwanese Family Business awake at night. As the international turmoil continues including COVID-19 pandemic followed by Ukraine-Russia War, systematic risk is almost inevitable. Therefore, when Singapore and Hong Kong, the main representatives in APAC financial centers announced their programs for Single Family Office, they were well-received by Ultra High Net Worth Families in APAC region. Family Office can sometimes appear mysterious to mass public, despite the fact that it has been practiced by Western World for several decades. It mainly serves UHNW in terms of wealth management, tax planning, legal consulting, family financial planning and philanthropy. At the same time, it also inherits intangible family core values and missions. What are the factors that can incentivize Taiwanese High Net Worth Families when they set up a Family Office in APAC and what are the weights to each of the factors. This research utilizes qualitative interviews with subject matter experts and filter down to four factors; then, through the quantitative AHP analysis, the ranking was determined. The result of ranking by descending order of weights is: (1) Political Stability, (2) Tax Benefit, (3) Lower Maintenance Cost, (4) Opportunity of Immigration; in addition, Singapore was found to be more favorable than Hong Kong as the location of establishing Family Offices. Lastly, by applying the conclusion of this research, the author proposes suggestion to regulations that supports development of Family Office in Taiwan.