Jurisdictions · Compare
Singapore vs Abu Dhabi (ADGM) for a Family Office (2026)
Our view
ADGM licenses the office: the family needs USD 10 million in net assets, and the ADGM set-up fee is USD 5,600. Singapore needs no licence and no minimum for the office itself, but its fund tax exemption needs at least SGD 20 million, two or three local investment professionals, SGD 200,000 or more of local spending a year and part of the fund in qualifying investments. The UAE has no personal income tax, while Singapore's top rate is 24%. Singapore has had no estate duty since 2008, and the official UAE list of taxes has no inheritance tax. Beyond that, much depends on where the family wants to live and invest: the Gulf, with a 10-year Golden Visa from AED 2 million, or Asia, with permanent residence from SGD 200 million under management.
Key differences
- Licence: a licence from the ADGM Registration Authority, against none in Singapore (a notice to MAS).
- Minimum wealth: USD 10 million in ADGM, against none for Singapore's licensing exemption and SGD 20 million for the 13O tax incentive.
- Set-up fees: USD 5,600 in ADGM, against SGD 315 to register a company in Singapore, where no official fee was found for the MAS notice or the tax incentive applications.
- Personal income tax: none in the UAE, up to 24% in Singapore.
- Residence: a 10-year Golden Visa from AED 2 million in the UAE, against permanent residence in Singapore through the Global Investor Programme (SGD 200 million under management, SGD 50 million invested in Singapore, EDB approval).
Side by side
| Topic | Abu Dhabi (ADGM) | Singapore |
|---|---|---|
| Licence | Licence from the ADGM Registration Authority; no FSRA permission | No licence: class exemption, notify MAS within 14 days |
| Minimum wealth | USD 10 million in family net assets | None for the exemption; SGD 20 million (13O) or SGD 50 million (13U) for tax incentives |
| Who counts as family | Blood relations, step-children and adopted children; one law firm reads spouses of descendants as excluded reported | Descendants of a common ancestor up to five generations back, with current and former spouses, in-laws, adopted children and stepchildren |
| Serving several families | FSRA permission: Category 4 to advise and arrange, 3C to manage assets | MAS capital markets services licence for fund management |
| Law and courts | English common law applies directly; ADGM Courts | Singapore law and courts |
| Substance | No minimum capital for the family office; at least one authorised signatory with a UAE residency visa reported | Locally resident director; for tax incentives, 2 or 3 investment professionals (one non-family), SGD 200,000 to SGD 1 million local spending a year and qualifying investments |
| Holding vehicles | Company (including Restricted Scope Company), foundation, SPV, trust | Company, limited partnership, LLP, variable capital company (VCC), trust; no foundation law found |
| Corporate tax | UAE corporate tax: 0% up to AED 375,000, 9% above | 17%, with partial exemption on the first SGD 200,000 |
| Family office tax | 0% only on qualifying income, not unregulated wealth management; foundations can be transparent reported | Funds can apply for income tax exemption under 13O, 13OA or 13U (schemes run to 31 December 2029) |
| Personal income tax | None | Progressive, top rate 24% |
| Inheritance tax | None in the official UAE list of taxes | No estate duty for deaths on or after 15 February 2008 |
| Wills and succession | Non-Muslim wills notarised by the ADGM Courts Wills Office reported | Wills and the Intestate Succession Act; Muslim estates follow Faraid |
| Residence | 10-year Golden Visa from AED 2 million in property or investments | Permanent residence via the Global Investor Programme: SGD 200 million under management, SGD 50 million invested in Singapore |
| Time to set up | No official figure found | Company: most registered soon after payment, up to 15 working days if complex, 14 to 60 days if referred; no official time for 13O/13U |
| Official fees | USD 5,600 to set up a single family office, USD 5,300 a year | SGD 315 to register a company; no official fee found for the MAS notice or 13O/13U applications |
