Family Office Setup in Singapore
Singapore is Asia's premier family office jurisdiction, with over 1,400 single family offices attracted by the MAS 13O/13U tax incentive schemes, political stability and gateway access to Asian growth markets.
Key advantages
13O / 13U tax incentives
Qualifying funds managed by a Singapore family office enjoy tax exemption on designated investment income — 13O from S$20M AUM, 13U from S$50M.
SFO licensing exemption
A single family office managing one family's assets is exempt from CMS licensing under the Securities and Futures Act, requiring only MAS notification.
Gateway to Asia
Direct access to Southeast Asian growth, Indian and Chinese capital flows, and Asia's deepest fund ecosystem.
Residency pathways
Employment passes for family members as investment professionals and the Global Investor Programme for permanent residence.
Regulatory framework
Single family offices are exempt from holding a Capital Markets Services license when managing assets for one family. The structure typically pairs a Singapore fund vehicle (often a VCC or private limited company) with an SFO management entity employing family and professional staff.
13O (Onshore Fund) requires minimum S$20M AUM, at least two investment professionals and tiered local business spending. 13U (Enhanced Tier) requires S$50M AUM and three investment professionals, one non-family. MFOs serving multiple families require full CMS licensing.
Costs
| Item | Cost |
|---|---|
| Entity incorporation | S$3,000 – 8,000 (one-time) |
| Legal & tax structuring | S$60,000 – 150,000 (one-time) |
| Minimum local business spend (13O) | S$200,000 / year |
| Investment professionals required | 2 (13O) / 3 (13U) |
| Annual operating cost | S$500,000 – 1,500,000 |
Setup timeline
- Structure & incentive strategy (Weeks 1–4): 13O vs 13U analysis, fund vehicle selection and structure design.
- Incorporation & MAS application (Weeks 5–10): Entity setup, MAS incentive application and supporting documentation.
- Approval & onboarding (Weeks 11–20): MAS approval, banking, custody and hiring of investment professionals.
- Operational launch (Weeks 21–24): Governance framework, compliance calendar and reporting setup.
Frequently asked questions
What is the minimum AUM for a Singapore family office?
S$20M for the 13O scheme at application, committed to reach S$20M within two years; 13U requires S$50M. Families below these thresholds can still operate without incentives.
Does a Singapore SFO need a license?
No — SFOs managing one family's assets are exempt from CMS licensing, but must notify MAS and comply with incentive conditions if claiming 13O/13U.
Can family members get Singapore residency through a family office?
Yes. Family members employed as investment professionals can obtain Employment Passes, and the Global Investor Programme offers PR for qualifying principals.
How long does MAS approval take?
Incentive applications currently take 9–12 months for approval, though the office can begin operating earlier. Total practical setup is 4–6 months.