Jurisdictions · Compare
Singapore vs Switzerland Family Office: Rules and Tax 2026
Our view
Neither country licenses a single family office or sets a wealth minimum for it. Singapore's exemption still asks for a notice to MAS within 14 days, a MAS-licensed bank and a yearly return. Switzerland's Financial Institutions Act does not apply to managing only the assets of people with family or business ties. Singapore offers a fund tax exemption from SGD 20 million, with local staff and spending conditions, and has no estate duty. No family office tax regime was found in Switzerland, where cantonal taxes, including a wealth tax, add to federal ones and inheritance tax is cantonal. For residence, Singapore offers permanent residence from SGD 200 million under management; in Switzerland the canton decides, and Zurich expects about CHF 1 million in tax a year.
Key differences
- Licence: none in Singapore, where an exempt office notifies MAS within 14 days, against none in Switzerland, where the Financial Institutions Act does not cover managing only the assets of people with family or business ties.
- Who counts as family: descendants of a common ancestor up to five generations back, with current and former spouses, in-laws, adopted children and stepchildren, in Singapore, against relatives in the direct line and up to the fourth degree in the collateral line, spouses, partners and co-heirs in Switzerland.
- Corporate tax: 17%, with partial exemption on the first SGD 200,000, in Singapore, against 8.5% federal profit tax plus cantonal and communal profit tax averaging just under 9% in 2026 in Switzerland.
- Personal tax: a top income tax rate of 24% in Singapore, against a federal top rate of 11.5% plus cantonal and communal income and wealth taxes in Switzerland.
- Inheritance: no estate duty since 15 February 2008 in Singapore, against cantonal inheritance tax in Switzerland in all cantons except Obwalden and Schwyz, with spouses and descendants exempt in most cantons.
- Residence: permanent residence through the Global Investor Programme (SGD 200 million under management, SGD 50 million invested in Singapore, EDB approval) in Singapore, against no investor visa found in Switzerland, where the canton decides and Zurich expects about CHF 1 million in tax a year.
Side by side
| Topic | Singapore | Switzerland |
|---|---|---|
| Licence | No licence: class exemption, notify MAS within 14 days | No licence: FinIA excludes managing solely assets of people with family or business ties |
| Minimum wealth | None for the exemption; SGD 20 million (13O) or SGD 50 million (13U) for tax incentives | No wealth minimum in the FinIA exemption; it turns only on family or business ties |
| Who counts as family | Descendants of a common ancestor up to five generations back, with current and former spouses, in-laws, adopted children and stepchildren | Relatives in the direct line and to the 4th collateral degree, spouses, partners, co-heirs |
| Serving several families | MAS capital markets services licence for fund management | FINMA portfolio manager licence plus supervision by a supervisory organisation |
| Law and courts | Singapore law and courts | Swiss federal law and FINMA; taxes at federal, cantonal and communal level |
| Substance | 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 | No rule found for single family offices; licensed managers need Swiss domicile |
| Holding vehicles | Company, limited partnership, LLP, variable capital company (VCC), trust; no foundation law found | AG, GmbH, foundations; no Swiss trust, foreign trusts recognised (Hague) |
| Corporate tax | 17%, with partial exemption on the first SGD 200,000 | Federal 8.5% of net profit plus cantonal and communal tax (average just under 9%, 2026) |
| Family office tax | Funds can apply for income tax exemption under 13O, 13OA or 13U (schemes run to 31 December 2029) | No family office tax regime found; participation deduction for stakes of at least 10% |
| Personal income tax | Progressive, top rate 24% | Federal top rate 11.5% (2026) plus cantonal and communal tax; lump-sum option, not Zurich |
| Inheritance tax | No estate duty for deaths on or after 15 February 2008 | Cantonal only, none in Obwalden and Schwyz; spouses and descendants exempt in most cantons |
| Wills and succession | Wills and the Intestate Succession Act; Muslim estates follow Faraid | Spouse or partner and descendants get half their intestate share as a protected portion |
| Residence | Permanent residence via the Global Investor Programme: SGD 200 million under management, SGD 50 million invested in Singapore | No investor visa found; cantonal tax route (Zurich: about CHF 1 million tax a year) |
| Time to set up | 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 | No official figure found |
| Official fees | SGD 315 to register a company; no official fee found for the MAS notice or 13O/13U applications | CHF 420 to register an AG or GmbH, CHF 210 a foundation; no family office licence fee |
