Project

Introduction and Advantages

The Singapore Single Family Office (SFO) is a vital platform for high-net-worth families to centrally manage family assets, investment portfolios, tax planning, wealth succession, and family governance. By establishing a Singapore family office and its supporting fund structure, qualifying investment income can apply for tax incentives under the 13D, 13O or 13U Fund Tax Incentive Schemes of the Singapore Income Tax Act.

13D is typically applicable to offshore fund structures managed by a Singapore fund management entity; 13O applies to Singapore-incorporated fund companies or VCC structures; 13U is suitable for fund structures with larger asset sizes, offering greater flexibility and a broader scope of application. These schemes generally require meeting criteria regarding fund size, investment professionals, local business spending, investment scope, and compliance reporting.

Fund Income Tax Incentives

Qualifying fund investment income can apply for Singapore 13D / 13O / 13U tax exemption incentives.

Global Asset Allocation

Leverage Singapore's mature financial system to achieve global allocation across stocks, funds, bonds, and alternative assets.

Tax and Compliance Optimization

Assist clients with CRS / FATCA, tax filings, and fund compliance management.

One-Stop Professional Services

Covers structural design, setup application, bank account opening, tax accounting, and annual compliance maintenance.

Overseas Residency Planning

Can be combined with family office operations to plan long-term residency paths such as EP and PR for core members.

Family Wealth Succession

Achieve wealth preservation, appreciation, and succession through funds, holding companies, and family governance arrangements.

Application Requirements

13D

  • Applicable to companies, trusts, and individuals, with fund entities established offshore
  • No limit on Assets Under Management (AUM)
  • No limit on annual business expenditure
  • No approval required from the Monetary Authority of Singapore (MAS)
  • Employ at least 1 full-time investment professional, who must be a non-beneficiary family member

13O

  • Applicable to companies incorporated in Singapore; the fund entity must be registered in Singapore
  • Must have a minimum Assets Under Management (AUM) of S$20 million at the time of application
  • Must incur annual business expenditure of S$200,000 to S$1,000,000 (depending on the AUM size)
  • Subject to approval by the Monetary Authority of Singapore (MAS), and the investment strategy cannot be changed after approval
  • Must employ at least 2 full-time investment professionals, at least 1 of whom must be a non-beneficiary family member

13U

  • Applicable to companies, trusts, and limited partnerships, whether incorporated offshore or in Singapore
  • Must have a minimum Assets Under Management (AUM) of S$50 million at the time of application
  • Must incur annual business spending of S$500,000 to S$1,000,000 (depending on the AUM size)
  • Subject to approval by the Monetary Authority of Singapore (MAS), and the investment strategy cannot be changed after approval
  • Must employ at least 3 full-time investment professionals, with at least 1 being a non-beneficiary family member

Target Audience

  • High-net-worth families and entrepreneurs seeking to achieve global asset allocation, wealth management, and long-term succession through a Singapore family office structure.
  • Families with Singapore residency planning needs who wish to combine genuine investment management and operational arrangements to plan long-term residency paths for core members.
  • Individuals with global asset allocation needs who wish to utilize Singapore's financial system, tax incentives, and banking network for compliant cross-border asset management.
  • Clients who value tax compliance and family governance, seeking to optimize CRS / FATCA compliance arrangements and establish a sustainable family wealth management platform.
Happy big Asian family talking, laughing and eating good food at dinner

Immediate Family Members

Residency Application

  • While the applicant holds an EP, their spouse and children under 21 years of age can apply for a Dependant's Pass (DP).
  • When the EP holder applies for PR, their spouse and children under 21 can be included as dependants in the PR application.
  • The applicant's parents and children aged 21 and over cannot apply for PR together, but parents can apply for a Long-Term Visit Pass (LTVP) valid for 5 years.

Application Process

1

Sign Project Agreement

5

Preparation of Legal Opinions and Investment Agreements

2

Design Family Office Structure

6

Apply for Fund Company Tax Incentives

3

Set Up Family Office

7

Open Private Bank Account for Fund Company

4

EP Application for Investment Professionals

8

Execute Family Office Investment Strategy

Esin's Advantages

Local Singapore Team

Familiar with local company registration, EP applications, accounting, taxation, and compliance requirements.

Compliant Application Strategy

Develops reasonable and executable application paths based on actual business operations.

One-Stop Implementation Services

Covers company formation, bank account opening, EP applications, and subsequent compliance maintenance.

Long-Term Compliance Support

Assists in completing bookkeeping, taxation, annual audits, payroll, and corporate compliance matters.

Cross-Border Service Experience

Long-term service to Chinese and overseas entrepreneurs, understanding the needs of cross-border setup and operations.

Multi-Resource Support

Integrates banking, taxation, legal, auditing, and business resources to improve landing efficiency.

Maintenance of Tax Exemption Status

and Keys to EP Renewal

✔ Funds must continuously meet 13D / 13O / 13U requirements regarding AUM, investment scope, and tax exemption conditions.

✔ Retain and maintain private bank or custody accounts to ensure clear records of fund assets, investment transactions, and capital flows.

✔ The family office must continuously perform investment management functions and retain investment decisions, transaction records, and management documents.

✔ 13O / 13U structures must meet minimum local business spending, investment professional requirements, and other annual compliance obligations.

✔ The management company must pay salaries on time in accordance with employment contracts and Singapore labor laws, and retain payroll, bank transfer, and employment records.

✔ The fund should pay management fees to the management company periodically according to the investment management agreement, and retain invoices, agreements, and payment vouchers.

✔ The fund and management company must complete accounting, tax, annual audit, CRS / FATCA and related compliance filings on time.