Family Office: Sections 13O and 13U

Eligibility requirements

• Select the fund and manager structure with Singapore tax and regulatory advisers. Single-family-office requirements differ from those for a fund managed by a licensed manager.
• For new SFO awards, meet the relevant S$20 million or S$50 million designated-investment threshold at application and at the required year-end test. Do not assume every family asset is eligible.
• The full staffing requirement is two qualifying investment professionals for 13O and three for 13U, including at least one non-family professional. The July 2026 circular allows specified initial staffing concessions, with the full complement required by the end of the first basis period.
• Budget for tiered local spending: S$200,000 below S$250 million AUM in designated investments, S$500,000 from S$250 million to below S$2 billion, and S$1 million from S$2 billion. The composition rules and minimum business-spending elements matter.
• Meet the prescribed capital-deployment test, generally the lower of 10% of AUM in designated investments or S$10 million in eligible investments, and the private-banking-account condition. Applicable multipliers and exclusions require professional calculation.

Legal framework

Build the evidence

Prepare records that substantiate the relevant criteria. The final checklist depends on the applicant, route and filing authority.

• Family ownership/control chart, identification, beneficial-ownership records and a documented source of wealth and funds.
• Fund and manager incorporation documents, investment strategy, asset schedule and classification of proposed designated investments.
• Investment-professional CVs, duties, employment terms and Singapore tax-residence evidence, with a recruitment plan for any permitted initial staffing concession.
• Local operating budget, capital-deployment calculation, banking evidence and a compliance model aligned to the specific award conditions.

How to apply

1. 01

   Separate the four workstreams

   WG coordinates mobility alongside the family’s Singapore legal, tax, banking and regulated investment advisers. The project starts with family objectives, not an assumption that investment creates a visa.

2. 02

   Design the fund and management model

   The advisers decide whether a Singapore company, VCC or other permitted structure fits the assets and governance. Review the SFO licensing/exemption and notification framework independently.

3. 03

   Prepare the incentive application

   Map every condition to a document, responsible adviser and reporting date. Resolve asset eligibility, hiring, banking and expenditure before committing to a proposed incentive outcome.

4. 04

   Assess work passes separately

   A family member or investment professional who will work in Singapore must qualify under an appropriate MOM pass. Job substance, salary and other pass criteria remain relevant even if the fund receives a tax award.

5. 05

   Maintain annual evidence

   Keep investment, payroll, local spending and banking records in a format that can support the tax return, MAS conditions and any separate immigration renewal.

After approval & family planning

• The award is conditional. The fund must continue meeting the relevant annual and ongoing obligations; the award letter and its vintage control.
• The current MAS SFO framework includes commencement notification, Singapore banking and annual-return obligations. Regulatory advisers should confirm their application to the particular office.
• Investment risk, fund taxation, personal taxation, residence and permanent residence are separate decisions.

Frequently asked questions

Points to consider

• This is a fund-governance and conditional tax framework, not an investment-for-residence offer.
• Do not apply a 2026 new-award checklist mechanically to an older award without reviewing its conditions and transition rules.