Referring Clients to a Singapore Family Office: An Adviser's Guide
A referral framework for lawyers, accountants and wealth advisers: assess the mandate, prepare the information and agree each party’s role.
For advisers referring a client to a single family office or multi-family office, the first step is to establish the required services and scope of the introduction. This guide covers the relevant questions, documents and working arrangements. Background on the structures is available in the family office guide and the 13O/13U tax incentive comparison.
When should you refer a client to a Singapore family office?
Refer a client to a dedicated SFO when they have roughly S$20–50 million or more of investable assets, want control, privacy and tax efficiency, and are thinking about succession. Below that, point them to an MFO or external asset manager — it is the honest answer and protects your credibility. Clients with very large portfolios who also want Singapore PR may fit the GIP family-office route (S$200M AUM, S$50M deployed).
The referral decision tree
| Client profile | Likely structure | Tax incentive |
|---|---|---|
| < S$20M investable | MFO or EAM | Per-family sub-fund may carry 13O |
| S$20–50M, wants control | SFO + VCC | 13O (S$20M on the SFO track, 2 IPs incl. 1 non-family) |
| S$50M+, institutional base | SFO + VCC | 13U (S$50M, 3 IPs) |
| Multiple branches / generations | VCC umbrella, sub-fund per branch | 13O or 13U per sub-fund |
| UHNW, wants PR | SFO via GIP Option C | 13U + GIP (S$200M / S$50M) |
| Doesn't want to license a manager | VCC + appointed MAS-licensed manager | 13O or 13U |
What information should you gather before referring?
Prepare an initial brief so the receiving specialist can assess scope and identify any further information required:
- Approximate investable AUM and asset mix (public equities, PE, real estate, credit, operating businesses).
- In-house vs appointed manager — does the family want to build and license its own management company, or appoint a MAS-licensed fund manager?
- Target tax incentive — 13O or 13U, based on AUM and headcount.
- Residency goals — is Singapore PR via the GIP a priority?
- Succession objectives — number of branches/generations, how wealth should be segregated and handed down.
- Timeline and any deadlines (e.g. an existing award whose vintage decides which condition set binds it (see which conditions apply to your SFO award)).
Which tax incentive will the client use?
A single family office applies on the SFO track: S$20 million in designated investments at application and at every basis-period end, with two investment professionals including at least one from outside the family. Clients with S$50M+ and a third investment professional, or an institutional investor base, use 13U. On the SFO track at least one professional must be non-family; on the non-SFO track the two (13O/13OA) or three (13U) professionals sit at the fund management company. The receiving partner confirms eligibility and files with MAS; the full numbers are on the 13O/13U for family offices page and the substance on the requirements page.
Agreeing the adviser’s continuing role
Agree the division of work before making an introduction. The introducing adviser can retain their existing mandate while the appointed specialist handles the agreed fund work: VCC incorporation, the Permissible Fund Manager arrangement and the 13O/13U application. Record who communicates with the client, what information may be shared and which party is responsible for each deliverable.
How the referral works
- You introduce the client with the packet above (or just the basics — the partner will fill gaps).
- Request an introduction to a Singapore fund-formation specialist and, where required, a licensed fund manager.
- Agree reporting arrangements for structuring, application and launch.
- Document the mandates of the introducing adviser and each appointed provider.
Request a specialist introduction for your client
Outline your firm’s role, the client’s objectives and the proposed scope of work. We can arrange a relevant specialist introduction; agree the client’s consent and information-sharing arrangements before providing personal documents.
Refer a client →Frequently asked questions
When should an adviser refer a client to a Singapore family office?
When the client has roughly S$20–50M+ investable, wants control, privacy and tax efficiency, and is planning for succession. Below that, an MFO or EAM usually fits better. UHNW clients targeting PR may suit the GIP family-office route.
What information should an adviser gather before referring a family office client?
Approximate AUM and asset mix, in-house vs appointed manager, target tax incentive (13O or 13U), whether GIP PR is a goal, succession objectives, and timeline. This lets the receiving partner scope the structure without re-interviewing the client.
Does referring a client mean handing over the relationship?
An introduction need not replace the existing advisory mandate. Agree the division of work, client communication and information-sharing arrangements with the client and receiving specialist before proceeding.
Which tax incentive will my client's family office use?
A single family office applies on the SFO track: S$20 million in designated investments at application and at every basis-period end, with two investment professionals including at least one from outside the family. Clients with S$50M+ and a third investment professional, or an institutional base, use 13U. The receiving partner confirms eligibility and files with MAS.
VCC Singapore is an independent informational resource and is not a regulator, law firm or tax adviser. Thresholds are set by MAS, IRAS, ACRA and the EDB and change periodically — confirm the current figures before advising a client. This page is general information, not legal, tax or financial advice.