Family office Singapore checklist: 12 checks before you start

How does a family use a family office Singapore checklist?

Use the checklist as a scoreboard. Mark each check as ready, partly ready or open, and write the owner and the date beside it. A mix of ready and open items is normal at the start. The value comes from seeing all 12 checks in one place.

The checks form 6 groups: purpose, scope, rules, people, money and review. The groups follow the sequence of the main setup guide, so you can open a detailed page when a check needs more depth. The table shows each group and the checks it holds.

Which 3 checks come first in a family office checklist?

Check 1, write the purpose in one sentence: what the family office does for the family. Check 2, name the family members it serves and their roles. Check 3, list the assets and the jurisdictions where they sit. These 3 checks give every later choice a reference point.

Keep the answers short and shared. A one-page summary that every family member has read keeps the project steady when advisers propose features. If two members describe the purpose differently, resolve that first, because structure, staff and budget all follow from the purpose.

Which functions should a Singapore family office keep in house?

Check 4, decide the scope of functions. A family office can cover investing, reporting, tax and legal coordination, payments and family governance. Mark each function as in house, outsourced or not needed yet. The marks size the team and the budget, so complete them before you hire anyone or request a quote.

Start narrow and widen with evidence. A small office that does reporting and payments well earns the family’s trust, and it can add functions when the need is proven. Write the date at which you will revisit the scope, so growth follows a decision instead of habit.

Which checks cover licensing, structure and registration for a family office?

Check 5, ask an adviser whether the activity needs a licence from the Monetary Authority of Singapore (MAS) or qualifies for an exemption, and keep the written answer. Check 6, choose the legal vehicle: company, trust or fund vehicle. Check 7, plan the registration with the Accounting and Corporate Regulatory Authority (ACRA).

These 3 checks depend on one another. The licensing answer shapes the vehicle, and the vehicle shapes the registration. Run them in that order and file every answer in the same folder. The detailed guides in this series open each question, and the checklist records the outcome for your family.

Which checks cover people and residency for a family office in Singapore?

Check 8, plan the people: who runs the office, which roles are local hires, and which roles need a work pass. Write each role with its tasks, so a pass application or a recruiter works from the same text. Check 9, treat the founder’s residency question as its own file, separate from the company.

Residency routes such as the Global Investor Programme concern people, not companies, and the official EDB page holds their conditions. Record the question, the owner and the next step. A separate row for residency keeps it from stalling the company checks, and the company checks from stalling residency.

Which checks cover banking and the annual budget of a family office?

Check 10, plan banking and custody: the account roles, the providers and the signatory rules. Prepare the ownership chart and the wealth narrative that banks request. Check 11, write the annual budget with lines for staff, advisers, fees, technology and insurance. Take the amounts from your own quotes, so the budget reflects real offers.

A budget built from quotes shows the family the true price of the office. Compare it with the benefit you expect, in time saved, risk reduced and clarity gained. If the comparison looks tight, narrow the scope in check 4 before you proceed.

How does check 12 close the family office checklist?

Check 12, record the decision and set a review date. Write who decided, on which date, with which answers to checks 1 to 11. Choose a review date within 12 months, and note the signals that would trigger an earlier review: a new heir, a new jurisdiction or a change in assets.

A recorded decision keeps the family aligned on the same point. When the review date arrives, you reread the file, update the marks and decide again with fresh facts. The figure shows the shape of the list: 12 checks, 6 groups, 3 first checks and 1 review date.

How can a family score its answers to the family office checklist?

Count the checks marked ready. A family with all 12 ready can proceed to the setup, and a family with open items in the first 3 returns to purpose and scope. The EQOS Asia private page presents a scored way to weigh a family decision across life dimensions (EQOS Asia private page, 2026).

A 30-minute pre-diagnostic with EQOS Asia shows which format fits your question, and licensed advisers confirm the legal, tax and licensing points. This page is general information, not legal, tax or investment advice, as of October 2026.

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About the author

Stéphane Jambu

President, EQOS Forecast Asia

Stéphane Jambu leads EQOS Forecast Asia and works as a consultant in e-commerce, search visibility, and AI. LinkedIn profile