Why More Family Offices Are Choosing Singapore in 2026

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The global wealth landscape continues to expand, and with it, the need for structured governance, compliance and regulatory clarity. 

According to PwC’s 2025 Global Asset & Wealth Management Report (published January 2026), global assets under management are projected to grow from US$139 trillion in 2024 to US$200 trillion by 2030. Total global investable wealth is expected to exceed US$481 trillion by the end of the decade. 

As private wealth grows  particularly across Asia-Pacific, more ultra-high-net-worth families are establishing formal structures to manage investments, succession, reporting, and governance. This has led to sustained growth in family offices globally, with Singapore emerging as one of the most established jurisdictions in Asia. 

The number of single family offices (SFOs) awarded MAS tax incentives grew from about 400 in 2020 to about 1,400 by end-2023, and exceeded 2,000 by end-2024. This growth underscores Singapore’s rising global prominence as a wealth-management hub, and highlights why setting up a family office in Singapore has become a strategic decision for ultra-high-net-worth families seeking stability, efficiency, and long-term growth in Asia.  

Why Families Establish Family Offices 

While global wealth trends provide context, families typically establish family offices for practical reasons: 

  • Centralised governance across multi-generational wealth 
  • Consolidated accounting and reporting 
  • Structured tax planning within regulatory frameworks 
  • Succession and estate planning coordination 
  • Oversight of private investments and operating businesses 
  • Philanthropic structuring 

As wealth matures across Asia, families increasingly move from informal structures to institutionalised platforms with defined governance policies and reporting standards. 

This institutionalisation requires: 

  • Proper corporate structuring 
  • Understanding of Singapore regulatory requirements 
  • Compliance with tax incentive conditions 
  • Ongoing financial reporting and audit readiness 
  • Corporate secretarial oversight 

This is where experienced local advisers become critical. 

Why Singapore Remains a Leading Jurisdiction for Family Offices 

Singapore’s appeal is not based solely on macro wealth trends. It is grounded in regulatory clarity and administrative predictability.  

1 Clear Legal and Regulatory Framework 

Singapore operates under English common law, with strong enforcement standards and regulatory transparency. 

Family offices typically establish Singapore entities such as: 

  • Private limited companies 
  • Variable Capital Companies (VCCs) 
  • Limited partnerships (where applicable) 
  • Trust structures 

Each structure carries different compliance obligations, including: 

  • Annual returns 
  • Financial statement preparation 
  • Audit requirements (where applicable) 
  • Corporate secretarial filings 
  • Tax filings 

Understanding these requirements at the structuring stage is critical. 

2 Tax Incentive Schemes: 13O, 13U and 13OA 

Many families choose to set up a family office in Singapore under tax incentive schemes such as Sections 13O, 13U and the enhanced 13OA framework (effective 1 January 2025). 

These schemes provide tax exemptions on qualifying income from Designated Investments, subject to meeting conditions including: 

  • Minimum Assets Under Management thresholds 
  • Tiered Local Business Spending requirements 
  • Investment scope restrictions 
  • Substance requirements 

Applications require detailed documentation and regulatory review. Ongoing compliance involves monitoring: 

  • AUM levels 
  • Qualifying investment classifications 
  • Annual reporting to MAS 
  • Financial and tax filings 

Families frequently underestimate the ongoing compliance requirements attached to these schemes. 

3 Global Investor Programme (GIP) Considerations 

Under the Global Investor Programme family office pathway, applicants must meet specified AUM thresholds and deploy a prescribed amount of capital into Singapore-approved investments, as defined by the Singapore Economic Development Board (EDB). 

This involves: 

  • Structuring considerations 
  • Capital deployment planning 
  • Regulatory coordination 
  • Ongoing compliance monitoring 

Professional guidance is essential to ensure alignment with official criteria. 

The Operational Side of Family Offices 

Beyond regulatory compliance, modern family offices require: 

  • Internal controls and governance frameworks 
  • Consolidated reporting across global investments 
  • Valuation support for private assets 
  • Due diligence on acquisitions or divestments 
  • Managed technology infrastructure for secure data management 

Digital infrastructure and operational efficiency are becoming increasingly important across the wealth ecosystem. For family offices, this translates into structured reporting systems, internal governance protocols, and technology-enabled oversight — not just investment performance. 

Economic and Ecosystem Impact 

Family offices in Singapore contribute to local employment across accounting, tax, compliance, and advisory services. Approximately 2,200 local professionals are employed within incentivised single family offices. 

This growth reinforces the need for experienced professional service providers who understand: 

  • MAS expectations 
  • EDB frameworks 
  • ACRA compliance 
  • IRAS tax administration 
  • Audit thresholds and exemptions 

How Impetus Can help you 

Impetus supports family offices from a regulatory, accounting and governance perspective — ensuring structures are properly established, compliant, and operationally sound within Singapore’s legal framework.  

Our services include: 

  • Advisory for 13O / 13U / 13OA applications 
  • Financial statement preparation and accounting 
  • Audit coordination and readiness 
  • Corporate secretarial compliance 
  • Corporate and personal tax advisory and filings 
  • Business valuation and transaction support 
  • Managed technology solutions 

Our role is to ensure that your family office in Singapore is structured correctly, remains compliant, and operates efficiently within Singapore’s regulatory framework. 

Contact us to discover how Impetus can guide your family office through Singapore’s financial ecosystem with solutions aligned to your governance and compliance objectives. 

Frequently Asked Questions

Singapore offers a stable legal system, strong rule of law, and a transparent tax framework, including incentive schemes under Sections 13O, 13U and 13OA (subject to eligibility conditions). The jurisdiction also provides political stability, regulatory clarity, and access to regional markets in Asia.  For families planning to set up a family office in Singapore, these advantages must be assessed alongside structuring options, compliance obligations, and ongoing reporting requirements.

Family offices in Singapore are creating high-quality jobs, boosting local startups through investments, and making significant philanthropic contributions. They also drive demand for related professional services such as private banking, legal advisory, and accounting.

From 2025, updates to Singapore’s fund tax incentive schemes include clarified Assets Under Management (AUM) thresholds and tiered Local Business Spending requirements. Tax exemptions continue to apply only to qualifying income from prescribed Designated Investments.  Families considering establishing a family office in Singapore should carefully review eligibility conditions, application processes, and ongoing compliance obligations under the relevant MAS and IRAS guidelines.

Depending on the structure adopted (e.g. private limited company, VCC, limited partnership), family offices may be required to: 
– Maintain proper accounting records 
– Prepare annual financial statements 
– File annual returns with ACRA 
– Submit corporate income tax filings 
– Monitor compliance with tax incentive conditions 
– Coordinate audits where applicable 
Understanding these obligations at the outset helps prevent regulatory issues that could affect tax incentive eligibility.

Next-generation family members are increasingly involved in governance frameworks, impact initiatives, and oversight of private investments. This often leads to greater emphasis on formal reporting systems, valuation transparency, and technology-enabled monitoring of portfolios and operating businesses.  As family offices become more institutionalised, governance documentation and compliance discipline become increasingly important.

Impetus supports family offices in Singapore from a regulatory, accounting and governance perspective. Our services include:
– Advisory for 13O, 13U and 13OA applications
– Accounting and financial statement preparation
– Audit coordination and readiness
– Corporate secretarial compliance
– Corporate and personal tax advisory and filings
– Business valuation and transaction support
– Managed technology solutions for reporting and infrastructure
We work alongside families and their investment advisers to ensure their Singapore family office structure remains compliant, operationally efficient, and aligned with regulatory require