Overview
Singapore is a leading global hub for Single Family Office (SFO) establishment, offering tax exemption schemes under Sections 13O and 13U of the Income Tax Act. B&H provides end-to-end SFO services, including structure design and implementation, 13O/13U tax exemption applications, fund management licence exemption applications, CRS and FATCA registration, Employment Pass applications for family office personnel, and annual reporting to the Monetary Authority of Singapore (MAS).
Get StartedThe Section 13O Scheme applies to Singapore-incorporated onshore fund vehicles with a minimum AUM of S$20 million at the point of application. It requires at least 2 investment professionals (at least one non-family member) and grants a 0% tax rate on specified investment income.
The Section 13U Scheme applies to fund vehicles with a minimum AUM of S$50 million, allows flexible fund residency (Singapore or offshore), and requires at least 3 investment professionals (at least one non-family member). Both schemes require annual compliance reporting to MAS and typically take 4–6 months to process.
We manage registration and annual reporting for the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) on behalf of your family office — ensuring full regulatory compliance with international tax transparency requirements.
We facilitate introductions and coordination with Singapore's major private banks and international banks for the establishment of corporate and personal banking relationships for your family office.
We provide full advisory and application support for the Singapore Global Investor Program (GIP) — tailored for family offices. GIP offers a pathway to Singapore Permanent Residence for eligible investors and their immediate family members.
Both 13O and 13U schemes require annual compliance reporting to MAS, including Capital Deployment Requirements (CDR) and Local Business Spending (LBS). Our team manages the full annual reporting cycle and family office statutory audit.
How it works
We assess your family wealth structure, investment objectives, AUM, and family members to determine the most suitable family office structure and tax exemption scheme.
We design the optimal family office framework — including fund vehicle, investment mandate, governance structure, and employment requirements to qualify for MAS tax exemptions.
We prepare and submit the 13O or 13U tax exemption application to MAS, including all required documentation, business plans, and investment strategy documents. Processing typically takes 4–6 months.
Upon MAS approval, we establish the family office operationally — including private bank account setup, CRS/FATCA registration, employment pass applications for investment professionals, and accounting system setup.
We provide continuous accounting, tax filing, annual MAS reporting, statutory audit, and advisory services to maintain your family office's compliance and tax-exempt status.
Other Services
Our expert consultants are ready to guide you through every step. Get in touch for a free consultation today.