SingaporeCompany formation, tax and banking
Asia's hub for funds, family offices and company treasuries.
Singapore is Asia's hub for regulated funds, family offices and company treasuries. Its Variable Capital Company (VCC) fund structure, its 13O/13U family-office tax schemes and its well-supervised private banks make it the default choice for Asian and internationally mobile wealth.
Company tax is 17% on paper, but often lower in practice after start-up exemptions and R&D and IP incentives. The regulator is demanding but predictable — filings are dealt with on published timelines.
Why people choose Singapore
- Asia's hub for funds, family offices and company treasuries
- 13O and 13U schemes exempt designated investment income for qualifying family offices
- 17% company tax on paper, often lower after start-up, R&D and IP reliefs
- No capital gains tax and no tax kept back on dividends
- Asia's deepest private banking and a demanding but predictable regulator
Where Singapore fits
- Family offices (VCC/13O)
- Fintech
- Treasury
Where Singapore fits in a structure
Typical role · Family office or fund base in Asia
The Singapore company runs the family's investments, or a fund such as a VCC, from a real office in Asia. Under the 13O or 13U scheme, a qualifying single-family office pays no tax on designated investment income. It relies on meeting the scheme's conditions: for 13O, SGD 20m of assets at the start, at least one investment professional and SGD 200k+ of local business spending a year.
What it depends onSingapore expects real presence, with a physical office, local hires, an active board and at least one director who normally lives there, and the exemption depends on meeting the 13O or 13U conditions.
A simplified picture to explain the idea, not a recommendation. General information, not tax or legal advice.
Opening a bank account
Singapore has Asia's deepest private banking, with top desks at UBS, Credit Suisse (now part of UBS), Julius Baer, DBS Private, OCBC Bank of Singapore and many specialists. Banking for Singapore companies is straightforward; banking for offshore companies owned by Singapore residents now rivals Switzerland.
How tax works here
17% company tax, with real reliefs for start-ups, R&D and qualifying IP. No capital gains tax and no tax kept back on dividends paid to shareholders. Personal income tax rises to 24%, but the 13O and 13U family-office schemes give qualifying single-family offices a full income tax exemption on designated investments.
Real presence, and who can see the owners
Singapore expects real presence — a physical office, local hires, an active board. A 13O family office needs SGD 20m of assets under management at the start, at least one investment professional, and SGD 200k+ of local business spending a year. 13U needs SGD 50m and higher spending and staff levels.
When to choose it
Choose Singapore when the family or fund is genuinely focused on Asia, when a 13O/13U family office fits the size of your assets, or when investors expect a Singapore structure by default (usually Asian investors and institutional co-investors).
You get a written comparison, not a sales pitch.
Every Singapore recommendation comes as a written comparison with the alternatives — whether the setup will stand up to scrutiny, how easy banking will be, which tax treaties apply, who can see the owners, what it costs to run each year and the risk to your reputation — so you can see the trade-offs before you commit.
Considering Singapore? Get a written comparison first.
Answer six questions and our team will come back with a shortlist, rough costs and where you could bank.
Questions we hear on every Singapore intake.
- What is a 13O family office?
- Under Section 13O of Singapore's Income Tax Act, qualifying single-family offices don't pay tax on designated investment income. You need SGD 20m of assets, at least one investment professional, and yearly local business spending.
- How long does a Singapore company take to form?
- Five to ten working days from start to finish, including appointing a local director, a registered office and an initial banking plan.
- Do I need a local director?
- Yes. Every Singapore private company must have at least one director who normally lives in Singapore. We provide checked independent directors if you don't have your own.
More APAC jurisdictions & related insights
Hong Kong
The gateway to mainland China, with experienced, well-established banks.
Labuan (Malaysia)
3% tax on trading profits, with some of Malaysia's tax treaties, at a low Asian cost.
Japan
The world's third-largest economy, now opening its doors to foreign investment managers.
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