Why Indian Families Are Exploring Singapore Family Offices, and What to Know About Funding Them

Created On: October 16, 2026
Newsletter, Singapore

Modified On: October 16, 2026

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Summary:

More Indian families are setting up family offices in Singapore to access global investment opportunities beyond India’s annual LRS limit of US$250,000 per individual. Singapore is an attractive choice, with an established family office network, tax incentives and a more predictable application process. The newsletter covers the key requirements under Sections 13O and 13U, including investment thresholds, hiring and local spending. It also explains how LRS, ODI and OPI rules affect the movement of funds from India to Singapore. Planning the funding route and meeting the eligibility requirements early can help families prepare for a smoother application process. IMC Group helps families plan their Singapore family office setup, from structuring and hiring to India-side funding arrangements.

Indian family offices are heading to Singapore in growing numbers, and one figure explains it. A report (Livemint) from early September 2026 says families hitting India’s outward remittance ceiling are forming entities in the city-state to reach wider global opportunities. For many of them, a single family office Singapore structure has become the practical answer.

The number to remember this month is $250,000. That’s the most each resident individual can send abroad in a financial year under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS). The scheme applies to individuals only, and companies invest abroad through a separate route covered later in this edition. [Source:MenaFN]

For one person, moving $10 million through LRS alone would take 40 financial years of full allowances, assuming no other LRS use and no change in the rules. Family members can combine their limits for an overseas investment, as long as each of them co-owns that investment.

Why are Indian family offices choosing Singapore? The remittance limit is small for families planning to invest millions. In Singapore, there’s an established base of family offices. Qualifying structures benefit from tax incentives and a faster approval target. That’s the reason so many families prefer to build the structure there.

What Does Singapore Offer a Family Office?

The family office community in Singapore has grown quickly, from about 700 single family offices at the end of 2021 to more than 2,000 tax-incentivized ones at the end of 2025. This means a new family office finds the advisers, banks and investment professionals it needs already in place. The approval process has become easier to plan around as well. This is because, since July 2025, MAS has been targeting around three months for complete applications, compared with roughly a year before.

Condition	13O	13U
Minimum assets under management	S$20 million	S$50 million
Investment professionals	At least 2, one non-family	At least 3, one non-family
Local business spending per year	At least S$200,000	At least S$200,000

These are the conditions MAS currently publishes, and they cover tax exemption on specified income from designated investments. The investment professionals must be Singapore tax residents, which means hiring has to begin well before the filing. That’s why the right family office services matter early. So, a practical approach is to consult an adviser to lay out the entity and the hiring plan, along with the filings first, well before the application is submitted.

Getting the Money to Singapore

LRS, overseas direct investment (ODI) and overseas portfolio investment (OPI) are closely linked. LRS is the framework resident individuals use to send money abroad, while ODI and OPI are the two categories of overseas investment. When an individual makes an ODI or OPI investment, the amount counts toward the same $250,000 LRS limit. For an individual, that means one allowance in total. Many families are evaluating the ODI route through their Indian operating company. Under the Overseas Investment Rules, 2022, a company’s total financial commitment abroad can go up to 400% of its net worth, as per its last audited balance sheet. If the Singapore entity carries on financial services activity, an Indian company outside the financial services sector also needs to have posted net profits during the preceding three financial years.

Now, GIFT City is part of the picture too. Back in 2024, reports stated that its regulator had paused approvals for family investment funds after feedback from the RBI. Singapore and Dubai are still the favoured destinations.

Most families overlook the order in which they should approach their goals. So, sort out the India-side funding route first, because the way the money moves decides how the structure for Singapore is built.

What to Have Ready Before You File

Four items demand priority in the pre-filing list:

The India-side funding route, settled and documented
Assets under management that clear the S$20 million or S$50 million threshold
Two or three investment professionals hired in Singapore
A local spending plan that meets the yearly minimum

One of our existing clients, an Indian promoter family, followed that order. It settled the funding route first, hired two investment professionals, and then submitted its Section 13O tax incentive application to MAS. The application went to MAS complete on the first attempt, and complete files are the ones MAS aims to process within three months.

Has your family settled the India-side route that will fund its Singapore structure?

Planning a single-family office Singapore setup? IMC can help you with the structure, the hiring process, and the India-side funding route through its family office services. Reach out to us before you make the first filing.

Disclaimer: This newsletter offers general information only. For legal, tax, or investment advice, please speak to a qualified advisor. The tax incentive conditions in Singapore and overseas investment rules in India change often. So, it’s worth confirming the current position before you act.

Author Bio:

Shivani Bhakar works with international businesses on cross-border expansion, corporate structuring, regulatory compliance, and reporting requirements across jurisdictions. She helps companies understand their regulatory responsibilities and establish practical frameworks for market entry and ongoing operations. Through clear compliance guidance, she supports business leaders in making informed decisions while expanding across regional and international markets.

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Why Indian Families Are Exploring Singapore Family Offices, and What to Know About Funding Them

Summary:

What Does Singapore Offer a Family Office?

Getting the Money to Singapore

What to Have Ready Before You File

Author Bio:

Why Indian Families Are Exploring Singapore Family Offices, and What to Know About Funding Them

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