Singapore has firmly established itself as the premier family office hub in Asia. With over 1,500 single-family offices now operating under MAS frameworks, the city-state offers a combination of regulatory clarity, tax incentives, professional services depth, and strategic location that remains unmatched in the region.
MAS Section 13O and 13U: Current Requirements
The enhanced criteria introduced in 2023 — including minimum AUM thresholds, local hiring requirements, and minimum local investment commitments — have raised the bar for qualification. For Section 13O, the minimum fund size is S$10 million with a S$200,000 local spending requirement. For Section 13U, the fund size must be at least S$50 million.
What's Changed in 2025
MAS introduced additional guidance on ESG integration requirements for incentivised family office structures, alongside enhanced reporting obligations for offices with AUM above S$100 million. The local investment requirement has been clarified to include a broader range of Singapore-listed and Singapore-based instruments.
Operational Considerations
Successful family office establishments require careful attention to substance requirements: local directors with genuine decision-making authority, regular board meetings in Singapore, and documented investment decision processes. Tax authorities globally are increasingly scrutinising the substance of offshore structures.
Swiss Ace's Family Office Practice
Our approach begins with a comprehensive needs assessment, followed by structure design, regulatory coordination, professional team assembly, and operational planning.
Swiss Ace provides disciplined investment advisory and business solutions across global markets.