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The cost of setting up a family office in Singapore

The real cost is more than the assets you bring. It is the setup fees, the team, and the minimum local spending the tax schemes require you to maintain each year.

The short answer: alongside the qualifying assets (from S$10 million under 13O), budget for one-off setup and advisory fees, plus ongoing annual costs. The schemes mandate minimum local business spending of S$200,000 a year (13O) or S$500,000 a year (13U), and you must employ the required investment professionals.

One-off setup costs

  • Incorporation of the family office and fund vehicle with ACRA
  • Professional and advisory fees to structure the entity and prepare the tax-incentive application to MAS
  • Legal and tax advice on the structure, including any trust

Ongoing annual costs

  • Salaries for the required investment professionals (two under 13O, three under 13U)
  • The mandated minimum local business spending, a condition of keeping the incentive
  • Corporate secretarial, audit and tax filing
  • Any ongoing advisory retainers

Because these spending and staffing levels are conditions of the tax exemption, they are best treated as fixed running costs rather than discretionary.

What it is worth

Against these costs sits the tax treatment: exemption on qualifying investment income, and no capital gains tax, estate duty or wealth tax in Singapore. For larger pools the arithmetic often favours setup. A specialist can model your specific case. See the full setup guide and the 13O vs 13U comparison.

Frequently asked questions

How much does it cost to set up a family office in Singapore?

Beyond the assets you commit (from S$10 million under 13O), plan for one-off setup and advisory fees, incorporation, and ongoing annual running costs. The schemes also require minimum local business spending: S$200,000 a year under 13O and S$500,000 a year under 13U. Exact professional fees vary by specialist and complexity; a specialist will quote your case.

What are the ongoing costs?

The main recurring costs are the salaries of the required investment professionals, the mandated minimum local business spending, corporate secretarial and audit, tax filing, and any advisory retainers. These are conditions of keeping the tax incentive, not optional extras.

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Sources

Local-spend and staffing figures are indicative, drawn from MAS scheme conditions, July 2026. Professional fees vary by provider. This page is general information, not financial, tax, legal or immigration advice.