Family office hiring under 13O / 13U / GIP — Costs and fees breakdown

Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.

This guide to family office hiring under 13o / 13u / gip sets out the practical detail Singapore businesses need. Family office hiring under the 13O and 13U tax incentive schemes and the Global Investor Programme (GIP) combines MAS fund-tax conditions with employment and residency pathways. The schemes carry minimum assets-under-management and local-hiring conditions, and hiring investment professionals is often a condition of the incentive itself.

Understanding Family office hiring under 13o / 13u / gip

The sections below break down family office hiring under 13o / 13u / gip step by step, covering what it is, who it applies to, the numbers that matter, the process, and the mistakes practitioners see most often.

How the schemes fit together

The 13O and 13U schemes are fund-tax incentives administered by MAS under the Income Tax Act 1947 for funds managed by a Singapore family office. The Global Investor Programme, administered by the Singapore Economic Development Board, offers a permanent-residence pathway to eligible investors, including those establishing a family office. Hiring plans intersect all three: the tax incentives impose local-employment conditions, and the GIP investor’s family office must create and sustain jobs.

For a related perspective, see Section 13O vs 13U 2026: Comparing Singapore Family Office Tax Incentives.

Assets-under-management and local-hiring conditions

The 13O and 13U schemes require minimum fund sizes and the employment of investment professionals in Singapore, with 13U carrying a larger AUM threshold and higher headcount expectations than 13O. Applicants should confirm the current thresholds with MAS, as the conditions have been tightened in recent updates.

See also our guide on Family office hiring under 13O / 13U / GIP — Step-by-step walkthrough.

Who the schemes suit

The schemes suit high-net-worth families establishing a single-family office in Singapore and investors seeking residence through the GIP family-office route. The right structure depends on investable assets, the family’s residence goals and its willingness to meet local-hiring and spending conditions.

Related reading: Singapore bank account opening — DBS, OCBC, UOB, Wise, Aspire — Timeline and processing benchmarks.

Cost, headcount and timelines

See the numerical block below. Budget for the family-office set-up, the minimum investment professional headcount, local business spending and the tax and legal advisory to secure the incentive. MAS assessment of an incentive application typically takes several months.

Step-by-step process

The route runs: (1) design the fund and management structure; (2) confirm the applicable incentive and its AUM, headcount and spending conditions; (3) incorporate and staff the family office; (4) apply to MAS for the tax incentive and, where relevant, to EDB for the GIP; (5) satisfy conditions on grant; and (6) maintain the conditions and report annually.

Common mistakes and gotchas

Families often underestimate the local-hiring and business-spending conditions, misjudge which incentive fits their AUM, or treat the GIP and the tax incentive as a single application when they are separate regimes with different administrators.

Choosing between 13O, 13U and the GIP

The right route depends on investable assets and objectives. 13O suits families with a smaller qualifying fund managed by a Singapore family office, while 13U fits larger pools with a higher AUM threshold and greater headcount and spending commitments. The GIP is chosen where permanent residence is a primary goal, and it can sit alongside a family office established for the tax incentive. Because the schemes are administered by different agencies with distinct conditions, the structuring decision should be made before incorporation.

The local-hiring condition in practice

Both incentive schemes require the family office to employ investment professionals in Singapore, with 13U demanding more headcount than 13O. Rules govern who counts as an investment professional and how related persons are treated, so families cannot simply appoint members to satisfy the requirement. Hiring genuine, qualified professionals is therefore both a condition of the incentive and a practical necessity for running the office.

Business spending and ongoing conditions

The schemes impose minimum local business-spending conditions that scale with fund size, covering expenses such as salaries, professional fees and other operating costs incurred in Singapore. These conditions continue year on year, and the family office must report and demonstrate compliance to retain the incentive. Families should budget for the running cost of the office, not only the set-up.

How Raffles Corporate Services can help

We help families incorporate and administer the family office and fund vehicle, coordinate with tax and legal advisers on the incentive application, and support the ongoing corporate secretarial and compliance obligations that keep the incentive in good standing.

Thresholds and conditions at a glance

  • 13O: minimum fund size and investment-professional headcount, managed by a Singapore family office (confirm current figures with MAS).
  • 13U: larger AUM threshold and higher headcount and spending conditions.
  • GIP: EDB-administered residence pathway with investment and business conditions.
  • Local hiring: minimum number of investment professionals resident in Singapore.
  • Timeline: several months for incentive assessment.

Official sources

FAQs

Are 13O and 13U the same as the GIP?
No. 13O and 13U are MAS-administered fund-tax incentives; the GIP is an EDB-administered residence programme. They are separate applications.

How many staff must a family office hire?
The schemes require a minimum number of investment professionals in Singapore, higher for 13U than 13O; confirm the current requirement with MAS.

Does the GIP require a family office?
One GIP route is via establishing a family office with a qualifying AUM; other investment routes also exist.

Can family members be counted as hires?
Conditions restrict how related persons count toward the investment-professional headcount; check the current rules carefully.

Related guides

Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Little Big Employment Agency (EA Licence 19C9790) works with a panel of corporate and employment law firms; this article is general information, not legal advice.

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