Singapore's Section 13O and 13U tax exemption schemes position Singapore as Asia's premier family office destination — attracting UHNW families from across Asia, Europe and the Middle East.
Singapore offers two tax exemption schemes for qualifying family investment vehicles: Section 13O (formerly 13R) for Singapore-incorporated fund companies, and Section 13U (formerly 13X) for Singapore-managed funds with higher AUM thresholds. Both schemes exempt qualifying investment income from Singapore tax — making them highly attractive for families consolidating global assets under a Singapore holding structure.
Marensa Advisory advises ultra-high-net-worth families and their advisers on Singapore family office formation, Section 13O/13U application, economic commitment planning, and ongoing MAS compliance.
Discuss Singapore Family Office SetupChoosing the right exemption scheme depends primarily on AUM and the family's appetite for economic commitments to Singapore.
Singapore's Section 13O and 13U schemes are well-established and respected — but compliance with annual economic commitment conditions is essential and frequently tested by MAS.
Marensa Advisory advises families on the full Singapore family office setup — from scheme selection and fund vehicle formation through to ongoing MAS compliance and succession planning.
Start the ConversationYes. Many Middle Eastern and Gulf families establish Singapore family offices alongside their UAE structures. Singapore provides access to Asian investment markets, a stable political environment, and DTA treaty access — complementing the UAE's Gulf and Africa connectivity.
Section 13O/13U family offices managing assets exclusively for the family are typically exempt from CMS licensing under the "solely for own account" exemption. Management by a third party or inclusion of non-family assets may trigger licensing requirements.
MAS conducts annual reviews of tax exemption scheme compliance. Failure to meet economic commitment conditions (AUM, local investment, employment) results in loss of tax exemption and potential clawback of exempted tax.
The MAS application process typically takes 3–6 months from submission of a complete application. The fund vehicle must be incorporated and the fund manager engaged before the application can be filed.