{"id":19049,"date":"2026-10-21T15:51:41","date_gmt":"2026-10-21T04:51:41","guid":{"rendered":"https:\/\/chuatan.com.au\/family-business-succession-australia-assets\/"},"modified":"2026-10-21T17:54:15","modified_gmt":"2026-10-21T06:54:15","slug":"family-business-succession-australia-assets","status":"publish","type":"post","link":"https:\/\/chuatan.com.au\/en\/family-business-succession-australia-assets\/","title":{"rendered":"Succession Planning for Asian Family Businesses With Australian Assets"},"content":{"rendered":"
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Many family groups across Singapore, Malaysia and Indonesia now have an Australian arm: a Melbourne office building, a Queensland cattle station, a Western Australian vineyard, a Sydney subsidiary, or apartments held for children who studied here. The founding generation usually knows exactly how these were acquired. The next generation often does not \u2014 and Australian law will not simply follow the family\u2019s plan in Singapore or Kuala Lumpur.<\/p>\n

I grew up in a family business. My family has plantations in Malaysia, and I am now taking over our family\u2019s law firm, which has practised since 1990, from my father. I am also an Accredited Family Business Advisor. I know from experience that succession is as much about relationships and authority as it is about documents.<\/p>\n

Why the Australian assets need their own plan<\/h3>\n

A home-country Will may not be enough.<\/strong> Australian land passes under Australian law. A Singapore or Malaysian Will can be recognised here, but executors still need an Australian grant or a resealed grant, which can take months. Many families sign a separate Australian Will limited to Australian assets, carefully drafted so it does not revoke the home-country Will.<\/p>\n

Who controls the company or trust matters more than who owns it.<\/strong> Much Australian wealth is held through a company or a discretionary trust. On the founder\u2019s death, the shares or units may pass under the Will, but control of a trust passes under the trust deed \u2014 through the appointor or guardian role. If the deed names a founder with no successor, families can end up in court.<\/p>\n

Incapacity is as important as death.<\/strong> If a director or trustee loses capacity, Australian banks and land registries will need an Australian enduring power of attorney, or a court appointment. A power of attorney made in Singapore or Malaysia may not be accepted here.<\/p>\n

Foreign investment rules continue after succession.<\/strong> Transfers of Australian land or business interests between family members or entities can require foreign investment approval or notification, and can trigger state stamp duty and foreign surcharges. Agricultural land has its own thresholds and must be registered with the ATO.<\/p>\n

Tax interacts across borders.<\/strong> Australia has no inheritance tax, but capital gains tax rules for non-residents, foreign resident withholding on sale, and dividend and trust distribution taxes all apply. We work alongside the family\u2019s accountants and tax advisers in each country, so the legal structure and the tax position are planned together.<\/p>\n

Planning the people side<\/h3>\n

Documents fail when the family does not accept them. A succession plan for a multi-generational family should also address:<\/p>\n