How much does a family office in Singapore cost to run?

What does it cost to run a family office in Singapore?

The cost depends on the scope of the office, the number of entities and the size of the team, so a single figure fits few families. A useful answer is a budget of lines, each with an owner and a quote, built for your family and reviewed every year. That budget also becomes the first document you share with your advisers and your bank.

This page therefore gives you the lines, the official amounts that you can verify and a method to compare options. Quotes from providers fill the rest. When you collect quotes, ask each provider to price the same scope, so the totals compare fairly. Share the quotes with the family, so everybody sees the same numbers.

Which cost lines make up a family office budget in Singapore?

6 lines cover most offices: people, advisers, audit and filings, banking and custody, systems and data, and premises with insurance. Add a seventh line for one-off setup work: registration, legal drafting and the first bank onboarding. Give each line an annual amount and a one-off amount. A short note beside each amount explains the assumption behind it.

Name the driver of each line. People follow the headcount, advisers follow the number of entities and jurisdictions, audit follows the structure, banking follows the number of accounts, and systems follow the number of users. A driver tells you what to watch when the family changes. Revisit the drivers once a year, with the same people in the room.

Which official amounts can a family office budget rely on?

ACRA lists a registration fee of $300 for a local company (ACRA, 2026). The MAS exemption replaces a licence application with a notice and an annual return, due within 4 months of the financial year end (MAS FAQ, 2026). These fixed items give the budget a firm base.

For a foreign hire, MOM publishes qualifying salary floors that start at $5,600 a month at age 23 or below for most sectors (MOM, 2026). These amounts are floors or fees set by the authorities. The fees of lawyers, auditors and banks come from quotes, so collect them in writing.

How do people costs shape a family office budget?

People form the line that grows with the headcount: salaries, bonuses, work passes, benefits and recruitment. The MAS key employee rule adds a design question for pay, because assets that originate from key employees stay at or below 10% of the assets under management. Document the pay rules early, so the contract and the exemption agree.

Decide for each function whether to hire, share or outsource. A hire gives daily presence, a shared provider gives scale and an outsourced provider gives a defined service. Price the 3 options for the same function, and compare the annual totals and the control you keep. Keep the comparison in one table that the family council can read in a few minutes.

Which audit, legal and filing costs of a family office repeat yearly?

A Singapore company appoints an auditor within 3 months of registration unless it is exempt from audit, holds annual general meetings and files annual returns (ACRA, 2026). A VCC appoints an auditor within 3 months too, and the Companies Act audit exemptions do not apply to it. Whether the exemption from audit applies depends on the company, so ask your adviser each year.

A single family office also files an annual return with MAS within 4 months of the financial year end, stating its total assets under management and the name of its bank. Put these dates in the budget calendar with an amount next to each, and the yearly cost becomes predictable.

How can a family compare an own office with a service provider?

Price the same scope twice: once as an own office with staff, and once as a provider service. Include the people, the systems, the filings and the time of the family. A provider spreads cost over several clients, while an own office gives dedicated attention and full control. Ask the provider for the full list of services, so nothing hides outside the quote.

Compare the totals over 3 years, because setup costs fall in the first year and recurring costs fall afterwards. Add a row for risk: what happens when a key person leaves. The option that fits the family may differ from the cheaper one on paper. Keep the assumptions visible next to each total.

How can a family test whether a family office cost fits its wealth?

Divide the annual running cost by the assets under management, and compare the ratio with the benefit the family expects: consolidated reporting, control, privacy and continuity. The family sets its own threshold, then asks what happens to the ratio if the assets fall or the scope grows. A written threshold makes the decision calm and repeatable.

EQOS Asia scores a family decision and ranks the options (EQOS Asia private page, 2026). A pre-diagnostic applies that method to the cost question, and your accountant and advisers provide the quotes. The result is a ranked set of options for the family council.

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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