Partner | Singapore
Secretary Noraini Mohamad
Operating as Withers KhattarWong LLP in Singapore.
Stacy is a partner in the private client and tax team.She advises individuals and families on their estate planning and this includes advising on wills, trusts, family governance/constitution and family/shareholders' agreements, and also on establishing family offices, private trust companies, family charities and foundations. She also helps clients with developing efficient holding structures and succession plans, not just for their personal bankable wealth but also for their real estate investments, special collections and their family businesses. Her practice is more focused on families with multi-jurisdictional or multi-generational planning considerations or other more complex governance requirements.
She offers a unique perspective on wealth planning as she has experience not only as a legal advisor but also as a client advisor in a private bank. Stacy was previously a managing director of the wealth advisory team of one of the top global private banks and advised high-net-worth clients on succession planning and wealth structuring. Prior to that, Stacy was a tax and private client partner in the largest full service law firm in Southeast Asia.
Stacy is a respected legal and tax adviser. She currently sits as a member on the Goods and Services Tax Board of Review which seeks to adjudicate disputes between taxpayers and the Comptroller of Goods and Services Tax (Inland Revenue Authority of Singapore. She has also been invited to be a member of the Modern Services Sub-Committee of Future Economy Committee (FEC) to develop and implement the industry transformation maps for the modern services cluster.
Stacy's knowledge of the legal landscape and also her experience in the private banking industry put her in a good position to develop a bespoke and functional solution for each client.
She is a regular speaker at many international conferences. She also organises training events for bankers and intermediaries to ensure that they are kept current of the latest developments in the private wealth space. And on special request, she can curate special educational sessions for family clients, often involving members from various generations (and this can be conducted in both Mandarin and English).
Stacy Choong is "probably best in class on Singapore family office advisory," according to sources. Choong acts for wealthy clients on various tax and estate planning matters. "Stacy is one of the best private client lawyers in the region and has significant experience working with HNWIs and families," a source enthuses, adding: "She is very experienced and provides commercial and practical advice to clients." Another source says: "Stacy Choong and her private client team are in high demand and market leaders in advising clients on the Income Tax Act, s.13 initiatives."
She is one of the most renowned private client lawyers in Singapore - she is usually involved in large structures and complex structuring.
Singapore-based Stacy Choong of Withers KhattarWong has a well-established reputation in the market for advising wealthy Indonesian clients. She handles a range of matters, from family offices, trusts and wills to complex immigration matters, multi-jurisdictional wealth planning and investments.
"She’s incredibly experienced and has a significant background doing private work, and has also been in industry. I think she’s got many strengths, her knowledge of Asia and its clients particularly."
Stacy Choong is considered "one of the leading people in the market" and is particularly recognised for her work with "larger, regional, South-East Asian families." " Choong is seen as "technically very good," with one source adding: "She is very to-the-point and loves detail."
Stacy Choong of Withers LLP in Singapore is "very, very strong for Indonesian work - she's an obvious choice," according to one market source. Stacy handles a wide array of private wealth matters both here and in Singapore.
"In the past few years, Stacy has provided our clients with efficient legal advice in response to the demand from high net worth groups in China and Taiwan for their family office applications and tax planning in Singapore. She has the ability to quickly understand the crux and deeply dissect the complex aspects of our customers' problems before proposing solutions with high definition and enforceability. "
She has excellent technical knowledge, excellent client relationship skills and an excellent reputation in the market. She handles quite a significant number of wealthy families in Asia. I hold her in regard. She's got a very easy manner to deal with - she makes you feel comfortable either as a professional or as a client. She has a great manner in explaining complex issues in terms people can understand.
Stacy Choong has an incredible ability to connect with clients, put herself in their shoes and view their world from the inside out. After zeroing in on the real issues, Stacy provides legal advice tempered with prudence, good judgment, and humanity. Her execution is energetic, and she is a lawyer for whom placing the client’s interests first is not just a rule of professional conduct but it infuses her whole practice.
Stacy Choong is "an excellent attorney who is careful and knowledgeable about banking matters," says one source. Another says that "she's very well known" for s.13X advice and other Singapore tax exemption schemes applicable to funds managed by family offices; "she would be anyone's first choice" for this work.
Me in a minute
It is such a joy and privilege for me to do what I do every day
I believe that my diverse background in the wealth planning industry enables me to share with my clients a broader perspective by looking at their concerns from different angles. I always aim to design and propose viable and efficient solutions that are right for each family.
I really enjoy helping my clients articulate their key objectives and wishes and to build and strengthen channels of communications across generations. I think it is such a joy and privilege for me to do what I do every day.
Perhaps growing up in a traditional hakka family where my grandfather has 3 wives (concurrently), I was constantly aware of the tension and fragility of living in an extended family, and that makes me appreciate and seek to achieve some sense of harmony and balance for people around me. I like to see the strength in everyone and the potential people can achieve by working together.