Is Section 13O still available for new applicants in 2026?

Yes. Section 13O is the published entry-tier framework and remains open for new applications. MAS's 2024 framework refinements and the 2024 consultation response confirmed retention of both 13O and 13U.

Can a Section 13O awardee migrate to Section 13U?

Yes, in principle, but the migration is treated as a fresh application against 13U conditions. There is no automatic upgrade pathway, and the family must demonstrate that 13U substance conditions are met at the time of conversion.

Does the Philanthropy Tax Incentive Scheme apply to local Singapore donations?

PTIS is specifically targeted at qualifying overseas donations. Local Singapore donations to Institutions of a Public Character (IPCs) attract their own deduction under the standard tax framework.

How does the GIP family office route relate to 13O / 13U?

GIP is a permanent residence pathway administered by EDB / Contact Singapore, separate from the MAS fund tax incentives. A family pursuing PR through GIP can also apply for 13O or 13U on the same fund vehicle, provided each set of conditions is independently met.

What happens if the fund's AUM falls below S$20M after award?

Section 13O / 13U conditions are continuing. A material drop in AUM, business spending, or investment professional headcount can trigger MAS engagement and ultimately withdrawal of the incentive for the affected period. Most awardees treat the conditions as a permanent operating discipline.

Comparison · L2

Singapore Family Office Tax Schemes Compared (2026): 13O, 13U, and Philanthropy

In one sentence

Section 13O is the entry-tier fund tax incentive; Section 13U is the enhanced tier with three investment professionals; the Philanthropy Tax Incentive Scheme is a separate 100 percent deduction for qualifying overseas donations.

Top 5

Section 13O — entry tier; minimum S$20M Designated Investments AUM; at least 1 qualifying investment professional; 10% or S$10M (whichever lower) deployed locally.
Section 13U — enhanced tier; same MAS published AUM floor as 13O but practical applicants substantially larger; at least 3 qualifying investment professionals (≥1 non-family); higher business spending floor.
Philanthropy Tax Incentive Scheme — independent scheme launched 1 Jan 2024; 100 percent deduction for qualifying overseas donations capped at 40 percent of statutory income.
A 13O or 13U awardee that meets the philanthropy scheme conditions can use both in the same tax year.
Choosing wrongly means either over-capitalising for 13U conditions (cost) or hitting 13O ceilings and being forced to migrate (operational disruption).

Side-by-side comparison

	Section 13O	Section 13U	Philanthropy Tax Incentive Scheme
Type	Fund tax incentive (entry tier)	Fund tax incentive (enhanced tier)	Charitable donation deduction scheme
Administering body	MAS	MAS	MAS
Headline benefit	Tax exemption on Specified Income from Designated Investments at fund-vehicle level	Same exemption, enhanced-tier substance bar	100% tax deduction for qualifying overseas donations, capped 40% statutory income
Minimum AUM	S$20M Designated Investments (S$10M at application, S$20M by Year 2)	Same MAS floor; in practice substantially larger	No AUM threshold; tied to qualifying SFO status
Investment professionals	At least 1 qualifying	At least 3 (≥1 non-family)	Not directly required
Local capital deployment	10% AUM or S$10M, whichever lower	Higher tier than 13O	Not applicable to donation scheme
Launch date	Long-standing	Long-standing	1 January 2024

Methodology

This comparison synthesises information published by the Monetary Authority of Singapore (MAS) on the Fund Tax Incentive Scheme for Family Offices, the Section 13O & 13U Infographic, the FAQs on Schemes for Single Family Offices, and the Philanthropy Tax Incentive Scheme page. Each scheme is mapped on the dimensions that drive scheme selection in practice: AUM threshold, investment professional headcount, business spending, deployment, and strategic purpose.

Detailed analysis

13O

Section 13O — Onshore Fund Tax Incentive (Entry Tier)

Best for: Single family offices with S$20M to S$50M AUM, single-strategy mandate, willing to hire one qualifying investment professional and meet entry-tier substance.

Pros

Lower investment-professional headcount requirement (1 versus 3 for 13U).
Lower annual business spending floor than 13U.
Same Specified Income exemption scope as 13U at the fund-vehicle level.

Cons

Substance conditions are continuing — slipping below conditions in any year affects exemption for that period.
Migration to 13U later requires fresh MAS application; no automatic upgrade.
Direct holdings of operating businesses and residential property sit outside Designated Investments.

Cost: Engagement scope and pricing scoped per case during the strategy call.

Source: MAS — Fund Tax Incentive Scheme for Family Officesverified 2026-05-02

13U

Section 13U — Enhanced Tier Fund Tax Incentive

Best for: Single family offices with multi-strategy mandate, S$50M+ AUM, comfortable with 3 investment professionals (≥1 non-family) and higher business spending.

Pros

Same Specified Income exemption scope as 13O at the fund-vehicle level.
Multi-professional team supports multi-strategy mandate without added administrative burden.
Brand and operational signal alignment for larger AUM families.

Cons

Higher annual business spending floor — material if AUM is small relative to operating cost.
At least one of three professionals must be non-family — affects family-only operating models.
Substance conditions binding throughout incentive period.

Cost: Engagement scope and pricing scoped per case during the strategy call.

Source: MAS — Section 13O & 13U Infographicverified 2026-05-02

PTIS

Philanthropy Tax Incentive Scheme (PTIS) — launched 1 January 2024

Best for: Qualifying single family offices (existing 13O or 13U awardees in most observed cases) seeking to formalise overseas philanthropic activity in a tax-efficient frame.

Pros

100% tax deduction for qualifying overseas donations.
Caps at 40% of statutory income — substantial deduction headroom for high-income years.
Stackable with 13O / 13U awards — same tax year, same SFO.

Cons

Conditions independent of 13O / 13U — must be separately satisfied.
Overseas donation pathways need recipient-vetting consistent with MAS expectations on philanthropic substance.
Cap calculation requires tracking statutory income — adds compliance overhead.

Cost: Engagement scope and pricing scoped per case during the strategy call.

Source: MAS — Philanthropy Tax Incentive Scheme for Family Officesverified 2026-05-02

Decision framework

AUM is S$20M to S$50M and the mandate is single-strategy?
Section 13O is the right entry — lower headcount, lower spending floor, same exemption scope.
AUM is above S$50M and the mandate spans equities, credit, and venture?
Section 13U fits — three-professional team supports multi-strategy without added overhead.
The family runs material overseas philanthropic activity?
Layer PTIS on top of the chosen fund tax incentive — independent scheme, stackable in the same tax year.
Direct holdings include operating businesses or residential property?
Those holdings sit outside Designated Investments — the fund tax incentive does not exempt them; structure separately.

Frequently asked questions

Is Section 13O still available for new applicants in 2026?: Yes. Section 13O is the published entry-tier framework and remains open for new applications. MAS's 2024 framework refinements and the 2024 consultation response confirmed retention of both 13O and 13U.
Can a Section 13O awardee migrate to Section 13U?: Yes, in principle, but the migration is treated as a fresh application against 13U conditions. There is no automatic upgrade pathway, and the family must demonstrate that 13U substance conditions are met at the time of conversion.
Does the Philanthropy Tax Incentive Scheme apply to local Singapore donations?: PTIS is specifically targeted at qualifying overseas donations. Local Singapore donations to Institutions of a Public Character (IPCs) attract their own deduction under the standard tax framework.
How does the GIP family office route relate to 13O / 13U?: GIP is a permanent residence pathway administered by EDB / Contact Singapore, separate from the MAS fund tax incentives. A family pursuing PR through GIP can also apply for 13O or 13U on the same fund vehicle, provided each set of conditions is independently met.
What happens if the fund's AUM falls below S$20M after award?: Section 13O / 13U conditions are continuing. A material drop in AUM, business spending, or investment professional headcount can trigger MAS engagement and ultimately withdrawal of the incentive for the affected period. Most awardees treat the conditions as a permanent operating discipline.

Need help deciding?

Strategy calls run as no-pitch consultations. We'll walk through the options against your specific profile in 30 minutes.

Request a Strategy Call →