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Singapore
Family Office (13O)
Singapore Family Office (13O)
Singapore has become one of Asia's leading jurisdictions for Single Family Offices (SFOs), offering a stable regulatory environment, a sophisticated financial ecosystem, and an attractive tax framework for wealth management. The Section 13O Fund Tax Exemption Scheme is designed for families establishing a Singapore-based family office to manage their investments efficiently while benefiting from tax incentives, provided the prescribed conditions are met. It is a popular solution for high-net-worth families seeking long-term wealth preservation, succession planning, and professional asset management in Singapore.
Time to permit
12-15 months
Residency requirement
Flexible Presence
Identity Acquisition
Path to PR
Taxation
Established time
Program launched in 2019
No taxation on capital gains or shareholder dividends
Application requirements
To qualify for the Section 13O Fund Tax Exemption Scheme, applicants are generally required to satisfy the following conditions:
Fund Size
The fund must have Assets Under Management (AUM) of at least SGD 20 million at the point of application. The source of wealth and source of funds should be legitimate, well-documented, and capable of supporting the proposed investment structure.
Local Investment Requirement
The fund must allocate at least 10% of its AUM or SGD 10 million (whichever is lower) to qualifying investments in Singapore, in accordance with the prevailing requirements issued by the Monetary Authority of Singapore (MAS).
Business Spending
The fund is required to incur a minimum annual local business expenditure in Singapore. The required amount depends on the fund's AUM and may include expenses such as employee remuneration, office rental, professional fees, audit, accounting, tax, and other qualifying operating costs.
Investment Professionals
The Single Family Office must employ at least two investment professionals, with at least one being a non-family member, who are responsible for managing the investment activities of the fund.
Substance and Governance
The fund and its management structure must demonstrate genuine economic substance in Singapore, maintain appropriate governance arrangements, and comply with all applicable regulatory and tax requirements.
Program Benefits
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Benefit from Singapore's tax incentive framework by establishing a compliant Single Family Office (SFO) under the Section 13O Fund Tax Exemption Scheme, subject to the prevailing qualifying conditions.
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Centralise wealth management, investment administration, and succession planning within a professionally governed family office structure tailored to long-term family objectives.
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Establish a long-term presence in Singapore through a locally managed family office, while providing eligible executives and investment professionals with the opportunity to apply for appropriate Singapore work passes, subject to the prevailing immigration requirements.
