Singapore Family Office 13O/13U

Introduction and Advantages

Singapore Family Office is an immigration scheme for high-net-worth individuals introduced by the Singapore government. It is usually set up by the family itself and is responsible for the day-to-day management and supervision of the family assets and various investments. Through a modern corporate management system, the family office provides overseas investment, asset allocation, tax planning, immigration planning and family wealth inheritance services to ultra-high net worth families, to achieve long-term stable development of family assets, enabling them to smoothly pass on their wealth across generations, effectively maintaining family cohesion and contributing to family prosperity.

Global asset allocation

Well-established financial system, no foreign exchange controls, and exposure to global markets.
Low requirements

No mandatory requirements such as gender, education, or English, and residency.
Special tax exemption

MAS has granted tax and license exemptions to the Monetary Authority of Singapore.
Overseas Status Planning

Clients can immigrate to Singapore through the conversion of their Employee Pass (EP) to Singapore Permanent Resident (PR).
Optimal Tax Planning

clients can obtain Singapore tax resident status through EP to a certain extent, avoid the exchange of financial information (CRS).
Family Immigration

Spouses and unmarried children under the age of 21 may apply for permanent residence status together.
Family Wealth Succession

We build long-lasting family traditions through family offices to achieve inter-generational succession and preserve and increase the value of family wealth
Autonomous control

EP status is approved first, then investing, and the investment initiative is completely in the hands of the client.
No operation required

There is no company operation requirement compared to a typical self-employed EP.

Suitable & application

The Singapore family office is suitable for two groups of people: one is high-net-worth families or entrepreneurs aiming to apply for Singapore PR; the other is those who hope to establish a family office to achieve family sustainable operation and family member identity planning. The Singapore family office projects (13O/13U) require that at least 10% of the total assets or 10 million SGD (whichever is lower) managed by the family office must be consistently earmarked for local investments in Singapore. This may include investments in securities listed on the Singapore Exchange (SGX), specific Singapore bonds, funds issued by qualified fund companies in Singapore, or private equity in non-listed local Singapore companies

13O Program

Approved companies managed by a Singapore fund management company will receive tax exemption on specified gains from specified investments. The specific requirements are as follows.

① A minimum asset size of S$10 million for the family office to manage and the need to increase the asset size of the family office to manage to S$20 million within two years.

② The Singapore family office needs to employ at least two investment managers (they can be family members or non-family members). If only one investment manager is available at the time of application, a grace period of one year may be granted for the employment of the other investment manager to be completed.

③ Approval from the Monetary Authority of Singapore is required.

④ The investment strategy/objectives remain unchanged after approval by the Monetary Authority of Singapore.

⑤ the hiring of a Singapore fund accounting services firm.

⑥ Family office managed fund companies with annual local expenses need to meet the following requirements.

a.For asset size less than S$50 million, the annual local expenses need to be S$200,000.

b.For asset size greater than S$50 million and less than S$100 million, the annual local expenses need to reach S$500,000.

c.For assets larger than S$100 million, local expenditure of S$1 million per year is required.
13U Program

Funds managed by a Singapore fund management company and deemed to be approved will receive tax exemption on specified gains from specified investments, subject to the following requirements.

① A minimum asset size of S$50 million for the family office to manage.

② At least one of the three investment managers in the Singapore family office needs to be a non-family member. If a non-family member investment manager cannot be hired at the time of application, a grace period of one year may be granted to complete.

③ Approval from the Monetary Authority of Singapore is required.

④ The investment strategy/objectives remain unchanged after approval by the Monetary Authority of Singapore.

⑤ the need to employ a local Singapore accounting services company if the fund is a Singapore registered company and is tax resident.

⑥ For family office managed fund companies, the annual local expenses need to meet the following requirements.

a.For asset size greater than S$50 million and less than S$100 million, the annual local expenses need to be S$500,000.

b.For asset size greater than S$100 million, the annual local expenses need to be S$1 million.

⑦ Cannot be entitled to other tax incentives at the same time.

Types Of

Family Offices In Singapore

Single Family Office SFO

※ A Single Family Office is a private company in which a single family manages the assets of its own family business. The assets are placed in a family fund and the investment of the fund is selected by the family manager himself or by reference to a financial planner.

※ Single Family Office in Singapore are exempt from the Registered Fund Management Company (RFMC) and Licensed Fund Management Company (LFMC) fund licenses.

Joint Family Office MFO

※ A family office formed by combining several families together is called a joint family office MFO, and these families are not necessarily related to each other.

※ A joint family office MFO in Singapore requires a Fund Management Company (RFMC) and a Licensed Fund Management Company (LFMC) fund license, similar to an Enterprise Asset Management (EAM).

key to success in obtaining

permanent residency in Singapore

※ A proper family office structure and approval by the Monetary Authority of Singapore.

※ Meeting the family office operation requirements.

※ Applicants need to meet the Singapore residency requirements before converting from a Employee Pass to a permanent resident.

※ Special circumstances will be communicated with our immigration consultant in advance.

※ Our immigration consultants will tailor-make the immigration plan according to the different circumstances of the client, and the client must actively cooperate to provide the required documents for the application.

About Us

Goldden Group (Singapore) established in Singapore, is a full-service, one-stop family management company focused on providing high-net-worth clients or families with a full range of family management services.