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Single Family Office Solutions in Singapore
Set up and manage your Single Family Office with confidence ensuring asset protection, tax efficiency, and long-term wealth preservation in one of Asia’s top financial hubs. Get Expert Guidance
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Why Singapore is Ideal for Single Family Offices
Singapore has become a preferred hub for Single Family Offices due to its stable economy, favourable tax environment, and top-tier financial infrastructure. These offices offer custom solutions to manage both financial and lifestyle needs of wealthy families. From wealth planning to legacy education, services are designed to support long-term goals across generations. This growing appeal is explored further in our analysis of why Singapore’s single family offices are becoming so hugely popular.
Comprehensive Services Provided by Singapore-Based Family Offices
Family offices in Singapore deliver a broad suite of personalised services tailored to the unique priorities of each family. These typically include:
Wealth Management
Crafting investment strategies, overseeing portfolios, and aligning assets with long-term goals.
Estate Planning
Designing wills, trusts, and succession structures for seamless generational wealth transfer.
Tax Advisory
Offering planning strategies to manage tax exposure while ensuring full legal compliance.
Philanthropy Services
Supporting charitable interests through the creation and administration of family foundations.
Lifestyle Support
Managing personal affairs like travel coordination, concierge services, and security arrangements.
Build Your Family Office in Singapore the Right Way
Talk to our team to set up, register, and manage your family office with clear steps, expert guidance, and full compliance.
Singapore’s Tax Schemes for Family Office Investments
Section 13O Tax Exemption Scheme
Supports onshore fund vehicles with a minimum asset base of SGD 20 million. Check for a full 13O vs 13U comparison table
Section 13U Tax Exemption Scheme
Applies to offshore fund vehicles with larger capital requirements and broader investment mandates.
Minimum Local Business Spending
SFOs must meet a yearly spending threshold to remain eligible under incentive schemes.
Employment of Investment Professionals
A minimum number of qualified professionals must be employed locally.
MAS Approval and Oversight
All incentive applications require pre-approval and ongoing compliance with MAS guidelines.
Approved Investment Categories
Only income from specific asset classes qualifies for tax exemption benefits.
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How to Set Up a Single Family Office in Singapore: Process and Timeline
Setting up a single family office in Singapore involves incorporating two entities (a fund vehicle and a fund management company), securing a fund management licensing exemption, and applying to the Monetary Authority of Singapore (MAS) for the Section 13O or 13U tax incentive. The end-to-end process typically takes 9 to 12 months from initial structuring to MAS approval, with a minimum fund size of SGD 20 million under Section 13O.
01
Stage 1
Define objectives and family charter
The family agrees on investment mandate, governance roles, succession goals, and philanthropic intent. Families planning structured giving should factor in the Philanthropy Tax Incentive Scheme (PTIS) at this stage, since it offers up to 100% deduction on qualifying overseas donations, capped at 40% of the donor's statutory income.
02
Stage 2
Select the tax incentive scheme
Advisors assess which scheme fits the family's residency and fund profile: Section 13O for a Singapore-incorporated onshore fund with at least SGD 20 million, Section 13U for larger onshore or offshore structures from SGD 50 million, or Section 13D for a non-resident offshore fund managed from Singapore, which carries no minimum AUM or local spending requirement.
03
Stage 3
Design the structure
The entity stack is determined: typically a Singapore private limited company or VCC as the fund vehicle, plus a separate Singapore-incorporated management entity. 13U structures can use a VCC and access Singapore's tax treaty network. Trusts may be layered in for succession and asset protection. The ownership chain is verified to support the licensing exemption.
04
Stage 4
Incorporate the entities with ACRA
Both the fund entity and the SFO management entity are registered. Company constitution, directors, and registered office are put in place.
05
Stage 5
Confirm the licensing exemption
The management entity relies on an exemption from holding a Capital Markets Services licence because it manages assets solely for related corporations of one family. Structuring evidence is documented for MAS.
06
Stage 6
Prepare and submit the 13O or 13U application to MAS
The application covers source of wealth, source of funds, family background, AUM commitments, investment strategy, the annual local business spending plan (from SGD 200,000 under 13O and SGD 500,000 under 13U), the capital deployment plan for local and climate-related investments, and the hiring plan for investment professionals. Since the 2023 MAS revisions, applications are assessed against more rigorous standards.
07
Stage 7
Open bank and custody accounts
Private banking, custody, and operating accounts are established. Banks conduct their own KYC and source-of-wealth checks, which run alongside the MAS review.
08
Stage 8
Hire investment professionals and relocate the family
The SFO employs the required minimum of qualified investment professionals: two under 13O, earning at least SGD 3,500 per month, or three under 13U. Principals typically enter on an Employment Pass sponsored by the management entity, or the ONE Pass where eligible. Families targeting permanent residence may route through the Global Investor Programme.
09
Stage 9
Receive MAS approval and commence the incentive
The tax exemption applies prospectively from the commencement date. Assets should be injected and gains realised with this date in mind, since disposals completed before commencement are taxed normally.
10
Stage 10
Ongoing compliance
Annual tax filing, CRS and FATCA reporting, maintaining minimum AUM, headcount, and annual local spending, meeting the capital deployment requirement (the lower of 10% of AUM or SGD 10 million in climate-related investments, local equities, or eligible non-listed funds distributed by Singapore-licensed financial institutions), and annual declarations to MAS.
Key Features of a Typical Family Office Structure
Centralised Wealth Management
Consolidates all investment, estate, and financial affairs under one coordinated structure.
Customised Governance Framework
Defines decision-making protocols, family roles, and long-term succession planning.
Cross-Border Planning and Consolidation
We assist in integrating global assets with efficient governance and reporting.
Comprehensive Risk Management
Implements controls for asset protection, compliance, and crisis response.
Operational Support Services
Covers administrative tasks, reporting, concierge services, philanthropy management, and more.
Multi-Generational Education & Planning
Prepares future generations through financial literacy, involvement, and values-based decision making.
Why Choose IMC for Single Family Offices in Singapore?
Tailored Structuring for Long-Term Needs
We design single family office setups aligned with your family’s legacy and financial goals.
Regulatory Guidance with Local Expertise
Our team ensures full compliance with MAS guidelines and Singapore’s tax laws.
Cross-Border Planning and Consolidation
We assist in integrating global assets with efficient governance and reporting.
End-to-End Advisory and Administration
From incorporation to daily operations, we manage the full office lifecycle.
FAQs
A single family office (SFO) in Singapore is a privately held entity that manages the wealth, investments, and affairs of one family exclusively. It does not serve third parties, which allows it to operate without a fund management licence, provided it meets the conditions set by the Monetary Authority of Singapore (MAS).
A minimum of SGD 20 million in assets under management is required under the Section 13O scheme, with annual local business spending of at least SGD 200,000. Section 13U requires SGD 50 million in AUM and at least SGD 500,000 in annual local spending. Staffing, office, and compliance costs apply on top of these thresholds.
The full process typically takes 9 to 12 months. Entity incorporation with ACRA takes one to two weeks, but the MAS review of the 13O or 13U tax incentive application accounts for most of the timeline. Banking, hiring, and immigration workstreams usually run in parallel with the MAS review.
No, an SFO that manages assets belonging solely to members of one family is generally exempt from holding a Capital Markets Services licence. The exemption depends on the ownership structure genuinely supporting the single-family condition, which is why structuring verification is a critical early step in every setup.
Singapore offers three main schemes. Section 13O exempts qualifying income of Singapore-incorporated onshore funds with at least SGD 20 million in AUM. Section 13U is the enhanced tier for onshore and offshore entities with SGD 50 million or more, and extends to Variable Capital Companies with access to Singapore’s tax treaties. Section 13D exempts non-resident offshore funds managed by a Singapore-based fund manager, with no minimum AUM or local spending requirement.
A single family office serves one family and offers full control, privacy, and a fully customised structure. A multi-family office serves several unrelated families on a shared platform, operates under a Capital Markets Services licence, and suits families that prefer outsourced expertise over building an in-house team.
Under Section 13O, an SFO must employ at least two qualified investment professionals earning a minimum monthly salary of SGD 3,500, of whom at least one is not a family member. Section 13U requires a minimum of three investment professionals to support a more advanced level of fund management and compliance oversight.
Yes, the Global Investor Programme (GIP) offers a family office route to permanent residency for principals who commit qualifying assets under management to a Singapore-based SFO. Alternatively, principals commonly enter on an Employment Pass sponsored by the family office entity, or the Overseas Networks and Expertise (ONE) Pass.
Most SFOs use a Singapore private limited company as the fund vehicle and a separate private limited company as the management entity. Larger or multi-strategy families often use a Variable Capital Company (VCC) with ring-fenced sub-funds, and trusts are frequently layered in for succession planning and asset protection.
An approved SFO must maintain its minimum AUM, annual local spending, and staffing conditions throughout the incentive period. It must also meet the capital deployment requirement by allocating the lower of 10% of AUM or SGD 10 million to climate-related investments, local equities, or eligible non-listed funds, alongside annual tax filings, MAS declarations, CRS and FATCA reporting, and ACRA corporate filings.
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