Rachel Yao

Partner

Rachel Yao

Partner

Email Rachel

+65 9145 9907

Singapore

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Rachel is a partner in the firm’s private wealth team (subject to standard regulatory approval), based in Singapore, and leads the firm’s private wealth practice in Asia. She advises ultra-high net worth individuals, entrepreneurs, internationally mobile families, family offices, trustees and private banks. Her work focuses on cross-border wealth structuring, global tax planning, family business succession, estate planning and family governance.

She has extensive experience in the establishment, administration and restructuring of a broad range of off-shore trust and fiduciary structures, including family trusts, employee benefit trusts, charitable structures and private foundations, and trust structures using private trust companies (PTCs). As a member of the firm’s North America group, Rachel also advises on planning for US-connected families, including foreign grantor trusts (FGT). She combines English law expertise with deep experience in offshore trusts and other wealth-holding structures. Rachel advises on global asset holding arrangements and intergenerational succession planning, often involving complex cross-border considerations.

A trust may hold a family’s wealth, but it is personal trust that holds a relationship together. I value growing alongside the families I advise, understanding what truly matters to them, and becoming a trusted adviser and sounding board they can turn to as their families, businesses and priorities evolve.

Rachel Yao, Partner

Her experience with family businesses gives her a strong understanding of ownership, governance and commercial dynamics. This allows Rachel to align business continuity with broader family wealth planning. She works closely with founders, family members and their wider advisory teams to develop integrated solutions covering business ownership, family governance, global tax considerations and the transfer of wealth and responsibility across generations.

Rachel is admitted in England and Wales, the People’s Republic of China, the British Virgin Islands and the Cayman Islands, is registered as an Associate of the Bermuda Bar, and is a registered foreign lawyer in Singapore.

A full member (TEP) of the Society of Trust and Estate Practitioners (STEP), she serves on the STEP Singapore Branch Committee. In recognition of her expertise in the private wealth sector, Rachel has been invited to serve on the judging panel of the WealthBriefing Asia Awards each year since 2024. As well as being a native Mandarin speaker, Rachel is fluent in English and proficient in Cantonese.

 

Recent work highlights

Complex multi-trust restructuring

Assisting one of Taiwan’s most prominent families with the restructuring of multiple offshore trusts and private trust companies, addressing complex succession and governance issues involving children from different marriages and the interests of multiple generations.

Cross-border structuring for Forbes-listed family

Advising a Forbes-listed PRC family on its cross-jurisdictional asset holding structures, including the use of offshore trusts and corporate vehicles for succession planning, asset protection and the long-term stewardship of family wealth.

Pre-IPO and employee benefit structuring

Assisting the founder of a technology business with the establishment of offshore pre-IPO and employee benefit trust structures, including succession, governance and the holding of equity interests ahead of a potential listing.

US pre-immigration planning

Representing an Asian entrepreneur and family on the establishment of a foreign grantor trust as part of their pre-immigration planning for the United States, coordinating the offshore trust structure with US tax, succession and asset-holding considerations.

Global wealth structuring for AI entrepreneur

Providing guidance to the founder of a leading AI and robotics business on international wealth holding structures and global tax and succession planning, including the use of offshore trusts to hold significant business and investment interests across multiple jurisdictions.

Incapacity and offshore trust governance

Advising a prominent Indonesian family on complex offshore trust and governance issues arising from the settlor’s incapacity, including the continuing administration of the trust, the exercise of reserved and fiduciary powers, and succession arrangements for the family.

External recognition
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What our clients are saying

Penningtons have broad expertise in private wealth, bringing together tax, family and private client all under one roof, and they have an international focus.

Chambers High Net Worth

Well regarded for its private wealth expertise. The team regularly advises wealthy individuals, families and entrepreneurs on domicile issues, trust and estate administration and succession planning.

Chambers High Net Worth

Penningtons provided excellent service throughout the matter, with prompt and courteous responses that were always clear and easy to understand.

Chambers High Net Worth

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