Singapore is Asia’s leading family office hub. Per MAS, a single family office can apply for the 13O or 13U fund tax incentive — qualifying designated investment income is exempt from tax. Thresholds are S$20M AUM for 13O and S$50M for 13U. For UHNW families, this is the core tool for asset management, succession and status planning.
💡 Lucy’s tip: A family office is more than tax — it unifies family assets, next-generation succession, PR status and Singapore property allocation. Many UHNW families do the family office and property together.
13O vs 13U (per MAS)
| Item | 13O | 13U |
|---|---|---|
| Minimum AUM | S$20M | S$50M |
| Investment professionals | ≥ 2 (1 non-family) | ≥ 3 (1 non-family) |
| Tax | Designated investment income exempt | Same |
- AUM: from 1 Jan 2025, measured by Designated Investments.
- Scheme validity: extended to 31 Dec 2029.
Local business spending (tiered)
| Fund size | Min local spend/year |
|---|---|
| < S$50M | S$200k |
| S$50M–100M | S$500k |
| > S$100M | S$1M |
Capital deployment
Per MAS, deploy at least 10% of AUM or S$10M (whichever lower) into designated local investments (SGX equities, qualifying funds, private markets, etc.).
Linked to GIP and property
GIP Option C uses a family office managing ≥ S$200M, deploying S$50M, to apply for PR — see GIP. Once PR, property tax drops sharply.
Summary
- Two schemes: 13O (S$20M), 13U (S$50M).
- Core value: exempt investment income + succession + status.
- Requirements: investment professionals, local spend, capital deployment.
- Contact Lucy to connect licensed fund and tax teams alongside property.
⚠️ Complex fund/tax/compliance; rules as per MAS’s latest position; use licensed professionals.