Singapore Guide · Family Offices

A single family office generally refers to an entity that manages the assets of a single family only, without serving third-party customers or managing third-party money. Families typically use it to coordinate investment, succession, family governance and philanthropy.

Source: MAS (FAQs on Licensing Exemption Framework for Single Family Offices) (website: mas.gov.sg)

Qualifying single family offices generally do not need to apply for a capital markets services licence. MAS's revised framework for SFOs took effect on 15 June 2026: qualifying SFOs fall under a class exemption and only need to notify MAS of their operations, maintain an account with an MAS-licensed bank, and file an annual return with their total assets under management and the name of their bank. Existing SFOs have a one-year transitional period until 15 June 2027.

Source: MAS media release (12 June 2026) (website: mas.gov.sg)

They are fund tax exemption schemes under Sections 13O, 13OA and 13U of the Income Tax Act 1947, for fund vehicles managed by Singapore-based fund managers, including family offices. Qualifying funds need MAS approval. Please consult a professional on the tax implications for your situation.

Source: MAS (Fund Tax Schemes for Family Offices) (website: mas.gov.sg)

According to the MAS website (updated 22 September 2026): Sections 13O / 13OA require at least S$20 million in Designated Investments and Section 13U at least S$50 million; 13O / 13OA require at least 2 investment professionals and 13U at least 3, of whom at least 1 is not a family member. Investment professionals must be employed as portfolio managers, research analysts or traders earning more than S$3,500 a month, spend over half their time on qualifying activities, and remain Singapore tax residents throughout the incentive period.

Source: MAS (Fund Tax Schemes for Family Offices) (website: mas.gov.sg)

Minimum spending is tiered by AUM: below S$250 million, at least S$200,000 in local business spending; S$250 million to S$2 billion, at least S$500,000 in total, including at least S$300,000 in local business spending, with the rest from eligible donations and grants to blended finance (counted at 2x); S$2 billion and above, at least S$1 million in total, including at least S$500,000 in local business spending. The fund must also invest the lower of 10% of AUM in Designated Investments or S$10 million in qualifying investments, and maintain a private banking account with an MAS-licensed financial institution.

Source: MAS (Fund Tax Schemes for Family Offices) (website: mas.gov.sg)

Eligible family principals may apply through the Global Investor Programme (GIP). According to EDB's GIP factsheet updated 5 May 2025, Option C is to establish a Singapore-based single family office with assets under management of at least S$200 million, of which at least S$50 million must be transferred into Singapore and deployed in EDB-specified investments; applicants must also meet the other GIP criteria, and outcomes are subject to approval.

Source: EDB (Global Investor Programme Factsheet) (website: edb.gov.sg)