The family office of Mr James Dyson, the billionaire founder of electrical appliance giant Dyson, has incorporated in Singapore and is in the process of hiring IT and financial services staff.

Weybourne Group is looking to build a team of senior staff in the city state, according to job advertisements posted on Dyson's website.

The family office, established in 2013, employs around 55 people globally. Mr Dyson, who earlier this year decided to relocate the company's head office to Singapore from Britain, has a net worth of about US$11.9 billion (S$16.4 billion), making him Britain's second-richest person.

Singapore has proven a popular place to set up family offices because of its high standard of living, plethora of international tax treaties and strict privacy rules. The number of family offices quadrupled between 2016 and last year, Monetary Authority of Singapore data shows.

Weybourne Services Singapore was incorporated on Jan 31. A treasury analyst role being advertised on the website notes that any successful applicant will need to help manage the cash and funding requirements of the group while dealing with foreign currency transactions.

Swiss private bank Lombard Odier is a banker to Weybourne, according to a filing to Singapore's Accounting and Corporate Regulatory Authority.

A representative from the company did not immediately respond to a request for comment.

The family office's expansion is further evidence that Mr Dyson's commitment to Singapore is more than skin-deep. The appliance maker plans to hire extensively across Singapore, Malaysia and the Philippines, and Mr Dyson himself has snapped up several luxury properties on the island.

RHTLaw Taylor Wessing partner Benjamin Szeto said Singapore is an attractive base for family offices because of its political stability, its connection to global markets and range of tax incentives.

"Singapore is pretty well known to have an extensive array of direct double taxation agreements with many countries," said Mr Szeto, who is also deputy head of the law firm's private wealth practice.

Those arrangements show the nation is "held in high regard by others around the world".

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