Glossary · structure
Family Office
Also known as: FO
- Definition
- A Family Office is an entity providing investment management, governance, tax structuring, philanthropy administration, and related services to one or more wealthy families. In Singapore the term covers Single Family Offices (one family) and Multi Family Offices (multiple families).
Family offices in Singapore typically operate under one of two patterns. Single Family Offices serve one family, via a Singapore-incorporated management entity exempt from MAS licensing under the single-family-office class exemption (notice to MAS plus an annual return). Multi Family Offices serve multiple unrelated families and require a MAS Capital Markets Services Licence. Both can apply for Section 13O or 13U tax exemption on the underlying fund vehicle. Singapore had over 700 active family offices as of 2024 per public commentary.
Source: MAS — family office Singapore
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