Singapore Family Office Cost Calculator: what an SFO really costs to run — and whether it beats an MFO
Move the sliders and see the annual substance cost of your own single family office — professionals, local spending tier, capital deployment — against the tax the 13O or 13U exemption saves, side by side with the multi-family-office route.
Your family office
Own SFO vs MFO / platform
See the cost lines
What the calculator assumes
The own-SFO column prices the substance the SFO track requires: your investment professionals (at least two for 13O, three for 13U, one from outside the family, Singapore tax-resident and above the salary floor), an office and systems, and the fund-level services every incentivised vehicle carries — administration scaled to assets, audit, corporate secretary, accounting, a resident director and compliance. The MFO / platform column replaces payroll and office with a platform fee (a retainer plus a slice of assets) and keeps the fund-level services. Tax saved multiplies assets by your return and by the share of that return that would be taxable income without an award, at 17%.
Two conditions sit outside the cost lines. The spending tier is a floor on local business spending — your own run-rate usually satisfies it, and the tool shows any top-up. The capital deployment requirement is an allocation, not a cost: the lower of 10% of assets or S$10 million must be invested each year in Singapore-linked assets, with multipliers for some categories. Read what a family office costs, SFO versus MFO and the capital deployment requirement for the detail, and check your track with the eligibility checker.
Want the numbers for your family?
Send us your assumptions. We will refine the cost lines, confirm the track and the conditions that apply, and introduce a family-office specialist or multi-family office where it fits.
Speak to a specialist →Frequently asked questions
How much does a single family office cost to run in Singapore?
For a family office on the SFO track the recurring cost is dominated by people: at least two investment professionals (three for 13U), one from outside the family, plus office and systems, and the fund-level services — administration, audit, corporate secretary, accounting, a resident director and compliance. Realistic run-rates start around S$300,000 a year and scale with assets and headcount; the calculator shows your figure line by line.
What is the minimum size for an SFO to make sense?
Legally, S$20 million in designated investments for 13O or 13OA, tested at application and every year-end, and S$50 million for 13U. Economically, the exemption only outweighs the substance cost once the taxable part of the return is large enough — often S$30–50 million for a conventional portfolio. Below that, a multi-family office or platform on the non-SFO track (S$5 million floor) usually nets more.
Does my own spending count toward the local business spending tier?
Yes. Salaries paid to Singapore-based staff, office rent, administration, audit and professional fees paid to Singapore providers all count. The tiers on the SFO track are S$200,000, S$500,000 and S$1 million by asset band; where the run-rate falls short, donations to approved causes can top up above hard floors.
What is the capital deployment requirement?
An SFO fund must invest at least the lower of 10% of its assets or S$10 million each year into specified Singapore-linked investments — for example Singapore-listed equities, qualifying bonds, funds managed by Singapore managers or eligible private investments — with some categories counting at a multiple. It is an allocation of the portfolio rather than a cost, and those assets sit outside the S$20 million minimum.
Is the tax-saved figure a forecast?
No. It multiplies your assets by the return you choose and by the share of that return you expect to be taxable income, at the 17% corporate rate. Singapore has no capital gains tax, so a buy-and-hold portfolio may owe less than that even without an award; the award’s value is certainty plus the exemption of interest, dividends and trading income. Adjust the taxable share to your strategy.
VCC Singapore is an independent informational resource and is not a regulator, law firm or tax adviser. Figures are general estimates, not advice; confirm current conditions with MAS and a qualified adviser.