5 Secrets to an Efficient Family Office Tax Structure

01 Sep 2025

Unlock the secrets to creating an efficient Family Office Tax Structure. Discover 5 strategies to optimize your financial management.

Most families treat taxes as compliance.

That is a mistake.

Navigating the complex tax laws that govern a family office requires more than checking boxes. It defines whether wealth is preserved or eroded. Engaging a qualified tax professional is essential, not just to avoid missteps but to capture the tax advantages that a well-designed family office structure makes possible.

But true efficiency comes from discipline, not loopholes.

The strongest offices follow five enduring principles that go beyond short-term tactics.

These five secrets begin with the entity choice that quietly shapes every tax outcome and extend all the way to the accounting discipline that determines after-tax results.

Secret #1: The Entity Choice That Quietly Shapes Your Family Office Tax Structure

The foundation of an efficient family office tax structure is not technology or reporting dashboards. It is the legal entity that holds the family’s wealth. The structure you choose determines liability, governance, and how income, expenses, and investments are treated under tax law.

Without this, even the best strategies will not deliver lasting tax efficiency.

Structuring a family office is therefore a two-step process. First, families decide how they want their office to operate: in-house, shared, or virtual. Then, they select the appropriate legal entity structures, such as LLCs or family limited partnerships, to optimize tax outcomes, liability protection, and operational flexibility.

Understanding Various Family Office Structures

Separately from the legal vehicles that drive tax treatment, families must decide how to structure the office itself. The three most common models are:

Single Family Office (SFO): The “build” model. A dedicated in-house team manages the family’s financial affairs—from investments to tax planning and administration. Best suited for very large pools of capital, where control and privacy outweigh high operating costs.
Multi-Family Office (MFO): The “buy” model. Multiple families pool resources for comprehensive services, ranging from tax compliance and estate planning to philanthropy. MFOs provide cost-efficiency with shared expertise.
Virtual Family Office (VFO): A hybrid approach. Families outsource most operational tasks while retaining control over decisions and data. This provides flexibility and cost efficiency without the overhead of a physical office.

SFOs, MFOs, and VFOs define service scope and cost of operation, not taxation. The real tax implications always arise from the legal entities chosen to hold and manage assets.

Selecting the Right Legal Structure or Entity for long-term investments

Why create a formal legal entity at all?

Without it, family office expenses can be seen as personal, deductions can be denied, and the office may not qualify as a business.

Additionally, a well-chosen entity:

Protects family members through limited liability.
Anchors compliance with local tax laws.
Clarifies ownership and decision-making among different family members.
Creates pathways for intergenerational succession planning and transfer of family wealth.

Options include:

Limited Liability Companies (LLCs) or their global equivalents (Ltd, GmbH, SARL).
Family Limited Partnerships (FLPs).
Trust-linked Vehicles in jurisdictions like the US, Singapore, and Guernsey.

Each framework shapes liability, reporting, and tax treatment differently. In the US, the Internal Revenue Code and tax court precedents determine whether expenses such as investment management fees qualify as deductible. Other jurisdictions, such as Singapore’s 13O/13U funds or Dubai’s DIFC family office regime, apply similar substance requirements.

Limited Liability Companies in Family Office Structures

Among all choices, the limited liability company has become the workhorse for wealthy families. It blends corporate protections with partnership-style taxation:

Limited liability shields the personal assets of family members.
Pass-through taxation avoids double taxation, letting ordinary income and capital gains flow directly to members.
Properly structured, LLCs can deduct legitimate family office expenses, including investment management fees, under IRC §162.
Flexibility supports a wide range of investment strategies and adapts to evolving tax planning needs.

But form is not enough.

The Lender Management case made clear: only LLCs with real substance, employees, documented processes, and a profit motive secure these tax benefits.

Without proper structuring, investment management fees may be treated as miscellaneous itemized deductions under IRC § 212, which are suspended and therefore nondeductible until 2025. Globally, Singapore and the UAE follow the same principle: no substance, no benefit.

The Role of Family Limited Partnerships

A Family Limited Partnership (FLP) goes further by separating ownership and control. Senior family members hold general partner interests, while younger generations take limited partner stakes. The result is a structure that enhances both tax efficiency and governance.

Families use FLPs to:

Transfer wealth to future generations with valuation discounts and stepped-up basis, often making a difference of 10–40% depending on appraisal, reducing estate taxes.
Keep decision-making centralized with general partners while aligning economic participation for different family members.
Avoid double taxation through pass-through status while supporting the deduction of legitimate business expenses.
Strengthen succession planning and, importantly, preserve and grow the family’s legacy across generations.

For families with complex financial needs, an FLP rarely stands alone. It is most effective when paired with an LLC for operations or trusts for asset protection and cross-border tax considerations. Together, these entities create a defensible framework for preserving family wealth and stability across generations.

An efficient family office tax structure is not about choosing SFO vs. MFO. It is about designing the right legal structure-one that balances liability protection, deductibility of business expenses, resilience under tax laws, and the ability to transfer wealth to future generations. Families who invest the time to get this right build tax structures that adapt across decades, not just fiscal years.

Secret #2: Trusts Aren’t Just for Inheritance, They’re Tax Optimisation Engines

Most families think of trusts only as inheritance vehicles. In reality, they are one of the most effective tools for tax planning and long-term wealth management. When appropriately designed, trusts create a framework that protects assets, reduces exposure to tax liabilities, and can be structured to align distributions with the family’s goals as part of long-term planning.

Utilizing Trust Structures for Family Office Services

Trusts extend the reach of family office services beyond investments and reporting. A trustee may coordinate investment advice, oversee professional investment advisory services, and work alongside a registered investment advisor to ensure portfolios comply with both fiduciary duty and regulatory standards. For high-net-worth individuals, this creates a governance layer that balances performance with accountability.

For example, dynasty trusts and intentionally defective grantor trusts (IDGTs) allow assets to grow tax-free for beneficiaries, bypassing estate, gift, and generation-skipping taxes altogether ensuring long-term compounding without erosion.

Understanding Trust Taxability

Trusts have their own set of tax rules.

A trust calculates its taxable income and determines what portion is retained versus distributed to beneficiaries. Retained income is taxed at compressed rates, while distributed amounts pass tax obligations to the recipient.

This treatment affects ordinary income, capital gains, and the allocation of profits from certain private equity or carried interest arrangements. For families operating across multiple jurisdictions, understanding these distinctions prevents disputes with tax authorities and minimizes unnecessary tax liabilities.

Implementing Gifting Strategies for Tax Efficiency

Trusts are also central to intergenerational transfers. Through thoughtful gifting strategies, families can transfer wealth at reduced valuations while still maintaining oversight. This requires careful planning to avoid triggering excessive gift or estate taxes. Properly structured, these strategies allow families to direct assets toward future generations while minimizing exposure to double taxation and preserving long-term capital for growth.

Family Limited Partnerships (FLPs) are often used alongside trusts to achieve this. Courts have upheld valuation discounts of 30–60% for lack of control or marketability. For example, gifting a 20% interest in a $10M FLP may be valued at $1.4M rather than $2M, reducing the taxable gift by $600K and creating meaningful estate-tax savings.

Trusts in a Global Context

While US families utilize dynasty and irrevocable trusts for multi-generational continuity, global families often turn to Singapore, Jersey, or the DIFC for flexibility and regulatory compliance. Many multifamily offices now offer trustee and administrative services, helping clients integrate trusts into broader governance frameworks. For wealthy families with complex financial needs, this ensures cross-border compatibility and smooth alignment with local tax laws.

Trusts are not passive inheritance tools.

They are engines of efficiency that integrate tax, governance, and asset protection. The most effective designs go beyond minimizing tax liabilities. They align distributions with the family’s goals, provide stability across generations, and embed flexibility to adapt to future legal or market changes.

Secret #3: Where You Base Your Family Office May Matter More Than How You Run It

The location of a family office can quietly reshape both strategy and outcome. Beyond the choice of legal structure, where you set up determines regulatory oversight, tax implications, and access to markets. Jurisdictional differences can also impact a family’s risk tolerance by influencing available investment options and regulatory environments. For a CFO or lawyer, jurisdiction is not a backdrop; it is a crucial consideration. It is a driver of returns and risk.

Location-Based Tax Benefits for Family Offices

Families must weigh the tax considerations of each jurisdiction carefully:

United States: Favorable when an LLC or FLP is structured as a trade or business under the Internal Revenue Code, but subject to close IRS scrutiny.

Within the U.S., Wyoming stands out as a tax-friendly jurisdiction. It levies no state income, estate, gift, corporate, or franchise taxes, and is often chosen by family offices seeking simplicity and predictability in tax outcomes.
Singapore: Section 13O/13U exemptions reward substance and compliance, making it a hub for Asian wealth management.
UAE (DIFC/ADGM): Special family office regimes attract high-net-worth individuals who seek privacy, flexible structuring, and regional access.
Switzerland and Luxembourg: Long-standing private banking traditions make them preferred for families seeking global investment opportunities, though regulations are tightening.

Wyoming also offers strong asset protection and privacy advantages. Structures such as the so-called ‘cowboy cocktail’, a combination of LLCs and trusts, create additional layers of confidentiality for wealthy families.

Each option carries distinct tax implications, costs, and reporting requirements. These are often more influential than day-to-day investment returns.

Navigating International and Domestic Tax Considerations

Families often operate across borders: a family business in one country, real estate in another, and a portfolio spread across global markets. This complexity raises risks of double reporting, treaty conflicts, and tax liabilities that erode returns.

State-level rules can be just as important as national frameworks. For example, Wyoming statutes permit private trust company migration, long-duration trusts, and directed trusts—tools that global families increasingly use to add flexibility to U.S. structuring.

A well-structured physical office in a favorable jurisdiction can reduce these risks by:

Centralizing oversight of tax treatment for multiple asset classes.
Consolidating wealth management functions under one set of rules.
Ensuring consistent compliance to maintain the office’s qualification under local laws.

Many family offices discover that location decisions create lasting effects. A treaty-friendly jurisdiction may preserve more wealth than a strong quarter of past performance.

Lender Management Across Jurisdictions

Cross-border structuring brings another dimension: how lenders view the office. Strong governance, transparent books, and compliant frameworks improve access to financing. This is where lender management matters. Institutions are more willing to finance family businesses or new ventures when they see robust oversight in place. Conversely, weak compliance undermines credibility and may limit opportunities for future performance.

For some families, advanced structuring even extends to carried interest and profit interest arrangements. In the right jurisdiction, these can be taxed more favorably. This is another reason why location is as critical as strategy..

The right jurisdiction is not a cosmetic choice.

It is the backbone of efficient wealth management, shaping compliance, lending, and taxation. Families who align their family office structure with favorable jurisdictions do not just optimize for today’s returns. They secure a framework that protects growth, supports succession, and sustains credibility for generations.

Secret #4: One-Generation Tax Planning is the Fastest Way to Lose Wealth

Short-term planning undermines long-term stability.

A family office that optimizes taxes for only one generation risks eroding capital, creating disputes among family members, and weakening the family’s legacy. The cost of this narrow approach often outweighs the benefit of temporary savings.

Additionally, short-term tax strategies can result in suboptimal investment decisions that may undermine long-term wealth preservation.

Tax Planning for Future Generations

Effective planning requires more than minimizing this year’s liability. It means building a system that supports the family office across decades.

This comes to life in several ways:

A single family office, for instance, may focus heavily on the immediate principal’s needs. Without structures for heirs, the office may falter when leadership changes.
Long-term wealth management requires careful planning on multiple fronts. Trusts provide tax-efficient transfer mechanisms while protecting assets from creditors. Ownership structures, such as family limited partnerships or LLCs, clarify governance and separate control from economic participation. Balancing current distributions with reserves for heirs ensures liquidity for today without undermining growth for tomorrow.
Families who view tax rules in a multi-generational context secure smoother transfers and avoid the pitfalls of double reporting or disputes over valuation.

Succession Planning Aligned with Tax Goals

Every jurisdiction has rules that shape the tax treatment of inherited wealth. Misalignment between governance and tax planning can expose families to unnecessary tax liabilities. That is why engaging a qualified tax professional is critical. Advisors help ensure compliance while maintaining flexibility for the next generation.

Weak planning often leads to internal disputes. Some common scenarios include:

A family that assumes all members have equal rights to capital may face disagreements when control passes to the next generation.
Proactive management, with clear voting rights, defined capital accounts, and transparent reporting, prevents such conflicts. A principle reinforced by governance lessons from the Lender Management LLC v. Commissioner tax court case, where the court distinguished investor-style activity from true business operations.

Preserving Family Legacy Through Tax Strategy

For ultra-high-net-worth families, succession is not only about minimizing estate taxes. It is about safeguarding opportunity and preserving legacy.

This requires a framework that:

Enables a family office to seize new investment opportunities, sustain resources for future performance, and align distributions with the family’s goals.
Uses structures such as LLCs, FLPs, and trusts tailored to ensure that tax efficiency is paired with resilience.
Shifts focus from minimizing today’s tax bill to protecting tomorrow’s capacity to invest, govern, and grow.

Family Governance and Lifestyle Management

Good governance ensures clarity across family members and creates stability for decades.

In practice, this means:

Rules for distributions, protocols for decision-making, and boundaries on lifestyle management expenses allow wealth to support generations without creating resentment.
The family office becomes more than an administrator. It is a long-term steward of family wealth and continuity.
Strong governance ties financial strategy directly to shared values, turning numbers on a ledger into a lasting framework of trust.

The families that endure are those that think three steps ahead. An efficient family office structure is not built for tax relief this year but for the continuity of family wealth across generations. By combining governance discipline with expert advice, families ensure their wealth is not only preserved but positioned for growth long after today’s leaders are gone.

Secret #5: Your After-Tax Return Depends More on Accounting Than on Investments

Families often assume investment performance defines wealth outcomes. In reality, the most decisive driver is accounting. A well-run family office that classifies expenses correctly, manages reporting with rigor, and aligns with tax law often outperforms a similar office with higher returns but poor accounting discipline.

The Role of Accounting Services in Family Office Tax Structures

Accounting services are not just recordkeeping.

They decide how income, expenses, and allocations are treated for tax purposes. A family office that invests in strong accounting builds transparency across entities and avoids disputes. In contrast, a family office without robust accounting controls can fall into disagreements over who controls expenses, weakening governance and credibility. This was illustrated in the Lender family example from the Lender Management LLC v. Commissioner tax court case.

Balancing Expenses and Tax Liabilities

In family offices, the battle for efficiency is often won or lost at the line between deductible business expenses and personal costs. A single misclassified item can inflate tax liabilities and wipe out legitimate deductions. Investment management fees are the most common flashpoint.

Consider the United States: since 2018, the Tax Cuts and Jobs Act has suspended all miscellaneous itemized deductions through 2025. Unless the family office qualifies as a trade or business under IRC § 162, these fees fall into that suspended category and become nondeductible. This distinction is especially critical for single-family offices and virtual family offices, where the line between personal and business activities can blur.

Globally, the principle is the same: in Singapore, Dubai, and other financial centers, regulators require substance and documentation before expenses are recognized. Without proper structuring, what families view as legitimate business costs may be treated as personal consumption and denied tax benefits.

Getting it right requires strong internal controls:

Policies that flag non-business spending.
Systems that track allocations.
Reporting that withstands audit scrutiny.

Robust governance transforms these controls from box-ticking into credibility, not only with tax authorities but also with external lenders who see accurate financials as the foundation for trust and financing.

How Investment Management Affects Tax Outcomes

Investment choices still matter, but how they are recorded often matters more.

In the United States, the deduction of investment management fees is possible only when the family office qualifies as a trade or business under IRC § 162. This requires continuity, a profit motive, and clear separation from purely personal or family assets. Without this recognition, expenses fall under the suspended miscellaneous itemized deductions created by the Tax Cuts and Jobs Act, and become nondeductible through 2025.

Elsewhere, the principle is the same. In Singapore, Dubai, and other global hubs, regulators require substance and documentation before expenses are recognized. A family office that blurs personal and business activities risks losing deductions in any jurisdiction.

This is why holistic wealth management always ties investment performance back to accounting classification.

Leveraging Professional Tax Services for Optimization

Even the best internal systems cannot substitute for expert oversight.

A qualified tax professional helps ensure compliance with evolving rules, prepares filings that withstand scrutiny, and identifies structuring opportunities. For any family office, external expertise is the final safeguard against misinterpretation of complex tax codes and the costly risk of disallowed deductions.

In the United States, Tax Court precedents such as Lender Management LLC v. Commissioner (2017) reinforced that only family offices run as bona fide businesses, with employees, governance, and a profit motive, secure the full benefit of deductions. By contrast, in cases like Hellmann, courts signaled that overly familial operations risk losing deductibility, underscoring the importance of active operations over passive holding.

Globally, the same principle applies. Regulators in Singapore, Dubai, and other jurisdictions apply substance tests and demand clear separation between personal and business activities. Without professional oversight, even well-intentioned family offices risk disallowed expenses or regulatory penalties.

After-tax results are built in the ledger, not in the market. Families that treat accounting as a strategic function, rather than a back-office task, create enduring advantage.

For a family office, this means:

Classifying expenses correctly.
Investing in robust accounting systems.
Engaging the right advisors.

Done well, these practices do more than minimize liabilities. They preserve resilience across generations and ensure the family office can adapt to evolving tax laws, regulatory demands, and market shifts.

Building a Smarter Family Office Tax Structure

Too many wealthy families chase after short-term tax maneuvers, believing they will secure long-term efficiency. The reality is different. Tactics expire. Well-designed structures endure.

The true test of a family office tax structure is whether it can adapt to new laws, leadership transitions, and shifting markets. Families that focus on resilience, rather than shortcuts, build offices that last.

An efficient family office tax structure rests on five enduring levers:

Entity design: The legal structure sets the rules of liability, reporting, and flexibility.
Trust planning: Trusts are not inheritance tools alone; they are engines of intergenerational tax efficiency.
Location strategy: Where you base the office dictates exposure to treaties, exemptions, and cross-border oversight.
Multi-generational foresight: Planning three transitions ahead protects both assets and family legacy.
Integrated accounting: Accurate classification of income, expenses, and investment flows often matters more than headline returns.

Families who align with these principles do more than reduce today’s liabilities. They create frameworks resilient enough to withstand tax reform, regulatory shifts, family dynamics, and the complexity of global wealth.

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Term and Termination.

This Agreement and the license granted hereunder shall remain in effect for the term set forth in the order form as set out in Appendix I. The license is valid for a period of 12 months from the date of activation (“Term”) unless otherwise indicated in the order form as set out in Appendix I. This Agreement will renew automatically for another twelve month period at the expiration date (“Extended Term”) unless the Licensee provides a written notice of termination sixty (60) days prior to the date of expiry of the License.
Without prejudice to any other rights or remedies and notwithstanding anything contained in Clause 11.1 above, the Company shall have an unfettered right to terminate this Agreement at any time upon Licensee’s failure to comply with all the terms and conditions of this Agreement.
Company may terminate this Agreement, effective immediately, if the Licensee files itself, or any other Person has filed against the Licensee (and fails to obtain a dismissal within sixty (60) days thereof), a petition for voluntary or involuntary bankruptcy or pursuant to any other insolvency law, makes or seeks to make a general assignment for the benefit of its creditors or applies for, or consents to, the appointment of a trustee, receiver or custodian for a substantial part of its property.
Upon expiration or earlier termination of this Agreement, the license granted hereunder shall also terminate, and Licensee shall cease using and destroy (to the extent reasonably practicable) all copies of the Software Platform. No expiration or termination shall affect Licensee’s obligation to pay all Licensee Fees that may have become due before such expiration or termination, or entitle Licensee to any refund, in each case except as set forth in Clause 11.3.

Limited Warranties, Exclusive Remedy and Disclaimer/Warranty Disclaimer.

The Company warrants that, during the Term, the Software will substantially contain the functionality described in the Documentation, and when properly accessed and used on a computer (as per requirements specified in the Documentation) and operated in accordance with the Documentation the Software shall substantially perform in accordance therewith. However, the Company does not represent or warrant that any and/or all errors will be corrected and that any and/or all incidents will be prevented or corrected.
The warranties expressly set forth in this Clause will not apply and will become null and void (i) if Licensee breaches any provision of this Agreement, and/or (ii) if Licensee and/or any Authorized User and/or any other Person to whom access to the Software is provided , whether or not in violation of this Agreement:
uses the Software Platform on or in connection with any hardware or software not specified in the Documentation, provided that the warranties in this Section shall continue to apply to Software that is installed or used on any hardware, software, configuration or operating system in accordance with the Documentation; or
misuses the Software, including any use of the Software other than as specified in the Documentation.
During the Term of this Agreement, if the Software fails to perform substantially in accordance with the Documentation, and such failure is not excluded from warranty pursuant to Clause 12.1, the Company will, at its sole option, use commercially reasonable efforts to repair the Software, provided that Licensee provides Company with all information which the Company requests to resolve the reported failure, including sufficient information to enable the Company to recreate such failure. Provided further that, the Licensee shall within 5 days after such failure has occurred, notify in writing to the Company informing about the failure. The Licensee acknowledges and agrees that the Software Platform may produce inaccurate results because of a failure or fault within the Software Platform for reasons not attributable to the Company or failure by Licensee to properly use and/or deploy the Software Platform. The Licensee assumes full and sole responsibility for any use of the Software Platform and bears the entire risk for failures or faults within the Software Platform on account of reasons not attributable to the Company. Licensee agrees that regardless of the cause of failure or fault or the form of any claim, the Company’s obligation if any shall be governed by this Agreement. Further, the Licensee acknowledges that the remedies set forth in this Clause 12.3 are Licensee’s sole remedies and Company’s sole liability with respect to the warranties provided in this Clause 12.
The software and documentation are provided to licensee on an “as is where is” basis and with all faults and defects without warranty of any kind other than as expressly set forth in this Clause 12. The Company, on its own behalf and on behalf of its affiliates expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the software and documentation, including all implied warranties of merchantability, fitness for a particular purpose, and warranties that may arise out of course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, the Company provides no warranty or undertaking, and makes no representation of any kind that the licensed Software Platform will meet the Licensee’s requirements, achieve any intended results, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.
The Licensee represents and warrants that it has due authorisations to enter into this Agreement and perform its obligations. Further, the Licensee represents and warrants that its is not barred under law, contractually or otherwise to enter into this Agreement and perform its obligations.

Limitation of liability

The Company and its affiliates, shall not be liable to the Licensee or to any third party for any use, interruption, delay or inability to use the software, lost revenues or profits, delays, interruption or loss of services, business or goodwill, loss or corruption of data, loss resulting from system or system service failure, malfunction or shutdown, failure to accurately transfer, read or transmit information, failure to update or provide correct information, system incompatibility or provision of incorrect compatibility information, or breaches in system security, or for any consequential, incidental, indirect, exemplary, special or punitive damages, whether arising out of or in connection with this agreement, breach of contract, tort (including negligence) or otherwise, regardless of whether such damages were foreseeable and whether or not the Licensee was advised of the possibility of such damages.
In no event will the Company’s and its affiliates’, collective aggregate liability under or in connection with this Agreement or its subject matter, under any legal or equitable theory, including breach of contract, tort (including negligence), strict liability and otherwise, exceed the total amount paid to the Company under this agreement for immediately preceding three month period.

Export Regulation.

The Software Platform may be subject to US export control laws, including the US Export Administration Act and its associated regulations. The Licensee shall not, directly or indirectly, export, re-export or release the Software Platform to, or make the Software Platform accessible from, any jurisdiction or country to which export, re-export or release is prohibited by law, rule or regulation. The Licensee shall comply with all applicable federal laws, regulations and rules, and complete all required undertakings (including obtaining any necessary export license or other governmental approval), prior to exporting, re-exporting, releasing or otherwise making the Software Platform available outside the US.

Indemnification

Licensee hereby agrees to indemnify the Company and its officers, directors, employees, agents, and representatives (“Indemnified Person”) from each and every demand, claim, loss, liability, or damage of any kind, including actual attorney’s/legal fees, whether in tort or contract, that may incur by reason of, or arising out of, any claim which is made by either the Licensee and/or any third party against the Indemnified Person with respect to any breach or violation of this Agreement by the Licensee or any claims based on Licensee’s and/or its client’s use of the Software Platform.

Miscellaneous.

Governing Law: This Agreement is governed by and construed in accordance with the internal laws of United States of America without giving effect to any choice or conflict of law provision or rule that would require or permit the application of the laws of any other jurisdiction. Any disputes arising from or related to this Agreement or any Company Software or service shall be subject to the exclusive jurisdiction and venue of the courts situated in New York, and both Parties hereby consent to such jurisdiction and venue.
Force Majeure: The Company will not be responsible or liable to the Licensee, or deemed in default or breach hereunder by reason of any failure or delay in the performance of its obligations hereunder where such failure or delay is lockdowns, due to strikes, labor disputes, civil disturbances, riot, rebellion, invasion, pandemic, epidemic, hostilities, war, terrorist attack, embargo, natural disaster, acts of God, flood, fire, sabotage, fluctuations or non-availability of electrical power, heat, light, air conditioning or any other circumstances caused beyond the Company’s reasonable control (“Force Majeure Event”). It is hereby clarified that the Licensee’s payment obligation shall continue during the Force Majeure Event.
Notices: All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Entire Agreement: The terms and conditions of this Agreement, including its exhibits, constitutes the entire agreement between the parties with respect to the subject matter hereof, and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions. Neither of the parties shall be bound by any conditions, definitions, warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. No oral explanation or oral information by either party hereto shall alter the meaning or interpretation of this Agreement. No amendments or modifications shall be effective unless in a writing signed by authorized representatives of both parties. These terms and conditions will prevail notwithstanding any different, conflicting or additional terms and conditions which may appear on any purchase order, acknowledgment or other writing not expressly incorporated into this Agreement.
Assignment:

a. Licensee shall not assign or otherwise transfer any of its rights, or delegate or otherwise transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily, by operation of law or otherwise, without Company’s prior written consent, which consent Company may give or withhold in its sole discretion. For purposes of the preceding sentence, and without limiting its generality, any merger, consolidation or reorganization involving Licensee (regardless of whether Licensee is a surviving or disappearing entity) will be deemed to be a transfer of rights, obligations or performance under this Agreement for which Company’s prior written consent is required. No delegation or other transfer will relieve Licensee of any of its obligations or performance under this Agreement. Any purported assignment, delegation or transfer in violation of this Clause 16.5 is void. The Company may assign or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its obligations or performance, under this Agreement without Licensee’s consent. This Agreement is binding upon and inures to the benefit of the parties hereto and their respective permitted successors and assigns.

b. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer on any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

Amendment and Waiver: This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. Failure or neglect by the Company to enforce at any time any of the provisions hereof shall not be construed nor shall be deemed to be a waiver of the Company’s rights hereunder nor in any way affect the validity of the whole or any part of this License nor prejudice the Company’s rights to take subsequent action.
Reservation of Rights and Remedies: The Company reserves all of its rights to proceed to enforce its rights in connection with all rights not expressly granted to the Licensee in this Agreement.
Severability: If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision shall to that extent be severed from the remaining terms, conditions and provisions which shall continue to be valid to the fullest extent permitted by law.
Interpretation: For purposes of this Agreement, (a) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Sections and Exhibits refer to the Sections of, and Exhibits attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.
Independent Development: This Agreement does not preclude the Company from evaluating, acquiring from third parties not a party to this Agreement, independently developing or marketing similar technologies or products, or making and entering into similar arrangements with other companies. The Company is not restricted by this Agreement to make such products or technologies available to third parties.
Disclaimer: The Software Platform is subject to the Disclaimer set out in the Appendix V of this Agreement.

Appendix IV : Privacy Policy

The Customer can access the privacy policy of the Company at the following link: Privacy Policy

Appendix V: Disclaimer

All of the operating procedures with respect to the Software Platform have been designed based on the Company’s experience in working with hundreds of global family offices. Under no circumstances should any person using the Software Platform should make investment decisions based solely on the information setout therein. The Company is not a qualified financial advisor and the Licensee should not construe any information discussed herein to constitute investment advice. The information in the Software Platform is not meant to be, and should not be construed as advice or used for investment, financial planning, legal, accounting, or tax purposes. The Licensee agrees to consult with a registered investment advisor, which the Company is not, prior to making any investment/trading decision of any kind. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. It must be implemented as per individual family office requirements in consultation with the family office’s local accounting and legal professionals.
The Software Platform is based upon information that is relevant while making investment decisions and the Company considers it reliable, but the Company does not represent that it is accurate or complete, and that it should be relied upon, as such. The Licensee should not rely solely on the information in making any investment. Rather, the Licensee should use the information only as a starting point for doing additional independent research in order to allow the Licensee to form its own opinion regarding investments. All recommendations, advice or opinions cited are the professional views of the Company. The Licensee must act upon them with due diligence.
The Company is neither registered as a wealth advisor, wealth manager, investment advisor nor soliciting any investment in any jurisdiction. Further, the Company does not accept any responsibility or liability for the actions or inactions on the part of any individual or firm stemming from the information mentioned in the Software Platform. The Licensee is solely responsible for verifying the information as being appropriate for the Licensee’s use, including without limitation, seeking the advice of a qualified professional regarding any specific financial, legal, accounting, or tax questions that the Licensee may have.
The Company makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any material/factual data in the Software Platform. The Company does not warrant that investment/trading methods or systems presented in the manual will result in profits or losses. The Company makes no guarantees as to the accurateness, quality, or completeness of the information and the Company shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for Licensee’s reliance on the information Vis-à-vis the Software Platform.