Single Family Office
(SFO)

Set up your Single Family Office in Singapore with ISO. Professional guidance for creating and managing your family office.

Single Family Office (SFO)

Set up your Single Family Office in Singapore with ISO. Professional guidance for creating and managing your family office.

Why Singapore Is the Ideal Hub for Family Offices and Global Wealth Management


With a comprehensive financial framework, infrastructure, and tax incentives, Singapore is the perfect place to manage wealth, businesses, and investments via a family office structure.

The government has been improving the financial landscape over the years and is still expanding its reach to increase jobs in the financial sector by attracting top talents internationally and digitalising financial services. 

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Where Asia’s Family Offices Thrive

2,000

Family Offices successfully established in Singapore as of 2024

68%

of Asian Family Offices are actively investing in sustainable and green initiatives

68%

increase of Global Family Offices investments in the Asia-Pacific region

3x

in interest to establish Single Family Offices (SFOs) in Singapore post-COVID

2,000

Family Offices successfully established in Singapore as of 2024

68%

increase of Global Family Offices investments in the Asia-Pacific region

3x

in interest to establish Single Family Offices (SFOs) in Singapore post-COVID

68%

of Asian Family Offices are actively investing in sustainable and green initiatives

The iconic indoor waterfall at Jewel Changi Airport surrounded by lush gardens.

Singapore: The Rising Epicenter for Family Offices in Asia

Since 2016, driven by the rapid growth of Asian wealth, an increasing number of affluent families have chosen to consolidate and manage their wealth in Singapore through formal structures such as family offices. These entities are regulated by Singapore’s central financial authority—the Monetary Authority of Singapore (MAS)—in collaboration with the Singapore Economic Development Board (EDB). Together, these government agencies work to position Singapore as a globally competitive wealth management and family office hub.

Unlike the process of incorporating a typical company, establishing a family office is far more intricate. It involves comprehensive wealth management planning, strategic tax advisory, and rigorous due diligence regarding the source of funds and assets.

Thanks to Singapore’s stable political climate, pro-business environment, and robust legal framework, the country has consistently ranked as one of the top choices in Asia for wealth consolidation. This is further strengthened by the government’s ongoing efforts to develop Singapore into Southeast Asia’s leading financial center.

Within the Single Family Office (SFO) framework, most mandates include not only managing investments but also promoting philanthropic initiatives aligned with Singapore’s social and economic priorities.

Why Partner with ISO


At ISO, we offer tailored, end-to-end solutions for setting up family offices with varying investment goals and asset allocation strategies. Our exceptional track record includes serving Ultra High Net Worth Individuals (UHNWIs) and supporting their business immigration and relocation needs into Singapore. We proudly represent clients from across the globe, including China, India, the UK, and the United States.

Our deep understanding of Singapore’s immigration and regulatory landscape ensures a seamless, hassle-free experience. From initial consultations and paperwork to project management and liaising with government agencies, we manage the entire process so you can focus on what matters most—growing and preserving your legacy.

single family office

Key Objectives & Advantages of Establishing a Single Family Office (SFO)

A Single Family Office (SFO) is typically established to address a range of diversified goals—tailored to each family’s unique values, circumstances, and aspirations. While no two families are the same, some of the most common objectives for setting up an SFO include:

  • Preservation and Growth of Family Wealth
  • Efficient Tax Planning and Structuring
  • Legacy and Succession Planning Across Generations
  • Minimising or Avoiding Intra-Family Conflicts
  • Permanent Residency Opportunities
  • Quality Education Planning for Children
  • Mitigating Geopolitical and Environmental Risks
  • Philanthropic Endeavours and Social Impact

Why Singapore?

Singapore continues to stand out as the jurisdiction of choice for families seeking to establish an SFO or family fund. This is due to strong government backing and a robust regulatory environment, supported by agencies such as the Monetary Authority of Singapore (MAS) and the Economic Development Board (EDB). The city-state offers several strategic advantages:

  • A Strong, Transparent, and Reliable Regulatory Framework
  • Access to a Mature Financial Services Ecosystem and Institutional-Grade Infrastructure
  • Consistently Stable, Pro-Business Government Policies
  • A Deep Pool of Skilled Talent and Professional Expertise

With these strengths, Singapore provides an ideal environment for families to safeguard their legacy, diversify their assets, and navigate an increasingly complex global landscape.

Singapore Immigration Roadmap

1. Your Current Profile

A foreign individual residing in or outside of Singapore.

2. Your Main Objective/Goal

Establish a Single Family Office (SFO) and apply for relevant work and dependent passes for yourself and your immediate family

3. Your Future Possiblities

  • Apply for Singapore Permanent Resident (PR) and integrate socially into the local community
  • Explore the Global Investor Programme (GIP) for a fast-tracked route to PR
  • Sponsor PR, Citizenship, or Long-Term Visit Pass (LTVP) applications for immediate family members
  • Attain Singapore Citizenship and continue building deeper roots in the country

Typical Pathway to Successfully Establishing a Family Office in Singapore

1. Define Objectives & Vision

  • Align the family’s long-term vision and financial goals
  • Understand the level of involvement from each family member
  • Identify the types and scale of assets to be managed
  • Conduct internal discussions to outline investment needs and expectations


2. Developing a Business Plan

  • Analyse the most suitable jurisdiction and geographic considerations
  • Plan for tax efficiency and compliance requirements
  • Define the ideal legal and operational structure
  • Forecast setup costs, ongoing budgets, and resourcing needs
  • Engage ISO’s team of professionals (legal, tax, immigration, banking, incorporation) for strategic advisory and full-process support

3. Setup & Implementation

  • Register the business entity and establish necessary infrastructure
  • Recruit qualified professionals to manage and operate the family office
  • Form governance and advisory committees
  • Apply for relevant licensing exemptions and tax incentives
  • Develop standard operating procedures and key organisational functions
  • Leverage ISO’s recruitment and real estate network for personnel and relocation support

4. Commencement of
Operations

  • Begin operations and implement day-to-day management practices
  • Track progress using performance benchmarks and KPIs
  • Connect with local investment and family office networks
  • Explore growth opportunities including philanthropy, succession planning, and next-gen engagement
  • ISO ensures seamless integration into Singapore’s vibrant financial ecosystem, supporting legacy-building for future generations

Single Family Office (SFO) Structures

SFO structures in Singapore are highly customisable, tailored to meet the unique needs, interests, and goals of each family. Different families have varying priorities—ranging from wealth preservation to global investment strategies. Below is one of the commonly adopted SFO structures in Singapore:`

SFO Structure 1

Overview

  • Investments are held under a separate Investment Holding Company to ensure clear segregation of assets and liabilities from the SFO entity.
  • The Singapore-based Asset Holding Entity may qualify for Fund Tax Incentives, subject to meeting the relevant criteria.
  • Offshore Asset Holding Entities may benefit from the Offshore Fund Tax Exemption Scheme.
Family Trust (Optional)

A discretionary or fixed trust may be established and managed by a licensed trustee to further support estate and succession planning.

Asset Holding / Fund Entity

The fund entity is responsible for deploying capital into various investment classes, including:

  • Real estate and property
  • Listed and unlisted company equities
  • Life insurance products
  • Foreign exchange and derivatives
  • Bonds, warrants, and other fixed-income instruments
Fund Manager
  • The family office will employ a combination of family members and experienced investment professionals to manage operations.
  • A legal opinion or formal exemption from the Monetary Authority of Singapore (MAS) may be sought to support fund licensing exemptions and tax incentive applications.

SFO Structure 2

Overview

  • Investments are held under a dedicated Investment Holding Company, ensuring clear segregation of assets and liabilities from the SFO entity.
  • The Singapore-based Asset Holding Entity may qualify for Fund Tax Incentives, provided all regulatory requirements are met.
Family Trust (Optional)

An optional trust can be established and overseen by a licensed trustee, offering enhanced wealth protection and succession planning flexibility.

Asset Holding / Fund Entity

The fund entity allocates capital into a broad range of investment vehicles, such as:

  • Real estate and property holdings
  • Listed and privately held equity investments
  • Insurance products
  • Foreign exchange (FX) instruments
  • Bonds, warrants, and fixed-income securities
Single Family Office (Fund Manager)
  • Operated by a combination of family members and professional investment managers employed by the family office.
  • A legal opinion or formal exemption from the Monetary Authority of Singapore (MAS) should be secured for fund licensing exemptions, which also supports applications for fund tax incentives.
Investment Management Agreement
  • A formal agreement is established between the Asset Holding / Fund Entity and the Single Family Office.
  • The SFO provides investment management services to the fund entity in exchange for agreed-upon management fees.

SFO Structure 3

Overview

  • Investments are housed under a separate Investment Holding Company to ensure clear segregation of assets and liabilities from the core SFO entity.
  • The Singapore Asset Holding Entity may qualify for Fund Tax Incentives, subject to regulatory compliance.
  • Offshore Asset Holding Entities may also be eligible for the Offshore Fund Tax Exemption Scheme.
Asset Holding / Fund Entity

Capital is deployed into a variety of investment classes, including:

  • Real estate and properties
  • Listed and unlisted company equities
  • Insurance-based investment products
  • Foreign exchange (FX) instruments
  • Bonds, warrants, and other debt securities
Single Family Office (Fund Manager)
  • A dedicated team comprising family members and professional investment managers are employed within the family office.
  • Legal advice or a formal licensing exemption from the Monetary Authority of Singapore (MAS) should be obtained to qualify for relevant tax incentives and operate under licensing exemptions.
Investment Management Agreement
  • A legally binding agreement between the Asset Holding / Fund Entity and the Single Family Office outlines the terms of the relationship.
  • The family office delivers investment management services in return for a structured management fee.

FAQ

Find anything related to Singapore PR application matter.

A family office is in essence a private company that handles investments and wealth management for ultra-high-net-worth individuals and families. Depending on the families’ investment and wealth preservation objectives, the decision to set up in Singapore is likely due to the city-state’s strategic location, trusted legal system and access to a pool of experienced advisers. These make it attractive for wealth management and preservation.


Depending on the level of involvement and expertise members of the families have, family offices may employ professionals to manage the set up and running of its operations. Typically an established family office should have the capabilities to perform :

Wealth Preservation & Growth
Tax Planning
Generational Legacy Planning
Avoidance / Mitigating Family Disputes
Permanent Residency Applications
Education for the Children
Navigating Macro Geopolitical & Environmental Hazards
Philanthropy
There are also “bread-and-butter” duties of managing a family office — from keeping the books for businesses and investments to dealing with tax matters — the office will help it prepare for its future, assuming such tasks as estate and tax planning, risk management and succession planning.

The setting up of a Family Office is not as simple as incorporating a typical private limited company. Incorporating an entity is just one of the steps.

Running a Family Office is similar to running any other company. Depending on the level and scale of operations, overhead costs may include space rentals, and hiring of staff. Additionally, Family Offices in Singapore need to adhere by MAS’s criteria if tax incentives are involved. This comes in the form of having a minimum Assets Under Management (AUM) plus a minimum annual business expenditure criteria to be met.

It refers to how the company is set up in relation to its objectives. Differing set ups serves different purposes. Typically, a Family Office structure may include a Trust, and a Holding Company. Investments will usually sit under a separate investment holding company, for purpose of segregation of assets/liabilities with the Family Office.

The number of Family Offices in Singapore has been steadily increasing since 2016 and now stands at 700 at the end of 2021.

Obtaining the licence is merely one of the deliverables included in the journey.Offices in Singapore has been steadily increasing since 2016 and now stands at 700 at the end of 2021.

There are no minimum size requirements. The family office can run as lean as a Single person or can go up to 5 family members. Typically though, the decision makers of the family engage a myriad of professionals, each with their own unique focus to come together in running the family office efficiently and according to a defined plan.

Singapore’s reputation as one of the most business-friendly jurisdictions in the world with world-class financial infrastructure and workforce makes it one of the top financial hubs in the world. Singapore is expected to receive 2,800 millionaire arrivals by the end of 2022, a testament to its financial environment and standing. This is an 87% increase compared to pre-Covid times in 2019.

The Singapore government is ramping up efforts to increase the number of top talents, especially in financial services such as financial advisor, tax specialist, estate planner, accountant, and more. Unlike many developed countries, Singapore does not levy any capital gains or estate tax or tax on foreign-sourced income. Availability of the best asset and wealth management professionals in Singapore also help facilitate wealth preservation.

Depending on the goals of a family, the family office structure differs and can be customised accordingly to serve varying objectives. Generally, a family office is a well-coordinated, collaborative effort by a team of professionals from the legal, insurance, investment, estate, business, and tax disciplines. Responsibilities of a family office include legacy planning and management, lifestyle management, investment management, and family wealth education.

While one client may need a family office for high-calibre advice from a range of experts in regards to wealth management, business management, and investments, for example, another may need a family office to to include legacy planning or front philanthropic activities.

A single-family office serves one individual and their family, while multi-family offices serve more than one family, and could be less expensive in the long run due to economies of scale. At least $100 million is needed to qualify for a single family office while a multi family office needs at least $30 million (figures are minimum estimates based on median AUM at start of incorporation). There is a common or singular goal for single family offices so the client has definite control while multi family offices take into account the different goals of the multiple families.

In single family offices, the team mainly consists of high-profile ex-consultants and / or investment bankers who only work for the client. Multi-family offices often employ a pool of former associates of private banking divisions or staff from other multi-family offices, therefore, staff may be doing work for multiple clients at the same time.

A family office is a private wealth management firm that is set up and run by a high net worth family to manage their affairs. The family office can be set up as a trust, corporation or partnership. So a family office may not be a trust, but a trust may also be a family office.

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