Singapore offers two parallel tax-exemption schemes for fund vehicles managed by family offices: Section 13O and Section 13U of the Income Tax Act 1947. Both schemes shelter "specified income" derived from "designated investments" from Singapore tax — but they target different sizes of family wealth and impose meaningfully different conditions on assets, hiring, spending, and [...]
Singapore's family office boom over the past five years has been built on two letters of the Income Tax Act 1947: O and U. Section 13O and Section 13U are the two main fund tax exemption schemes that family offices use to shelter qualifying investment income from Singapore tax. They sound similar, and indeed share [...]
Singapore has cemented its reputation as Asia's premier wealth management hub, and at the centre of that story sits the single family office (SFO). For ultra-high-net-worth families, the appeal is straightforward: a politically stable jurisdiction, a deep professional ecosystem, robust regulatory oversight by the Monetary Authority of Singapore (MAS), and two well-defined fund tax incentive [...]
Singapore has, in less than a decade, become the dominant family office hub in Asia. As of 2024, MAS publicly disclosed that more than 2,000 single family offices had received tax incentive approval, up from fewer than 50 in 2018. The trajectory has continued through 2025 and into 2026, fuelled by HNW migration from Hong [...]