To all future aspiring Singapore Family Offices!
With effect from 18 April 2022, funds that are managed and / or advised directly by a family office which is:-
a) An exempt fund management company which manages assets for or on behalf of the family(ies); and
b) Is wholly owned or controlled by members of the same family(ies),
must meet, in addition to the current requirements outlined in the relevant Monetary Authority of Singapore’s circulars and Singapore Income Tax legislation for the Section 13O (Resident Fund tax exemption scheme) / Section 13U (Enhanced-Tier Fund tax exemption scheme), the following conditions:-