Family Office Principal track under ONE Pass and GIP — Costs and fees breakdown
Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.
The Family Office Principal pathway lets the individual behind a Singapore single family office secure long-term residency, most commonly through the Overseas Networks & Expertise (ONE) Pass or the Global Investor Programme (GIP). Each route carries different investment thresholds, salary tests and timelines, and the right choice depends on whether the principal is drawing a salary or committing capital. This guide to Family Office Principal track under ONE Pass and GIP sets out who it is for, the costs and fees in Singapore dollars, the step-by-step process, and the common mistakes to avoid.
What the Family Office Principal track covers
High-net-worth families setting up a single family office in Singapore usually want the principal, and sometimes senior family members, to obtain a work pass or permanent residence. Two routes dominate. The ONE Pass suits a principal who can meet a high fixed salary benchmark, while the Global Investor Programme suits a principal willing to commit substantial capital, including through a family office option.
The family office itself is typically a Singapore private company that employs the principal and applies for a fund tax incentive under section 13O or 13U of the Income Tax Act 1947. The immigration pathway sits alongside that structure. For a related perspective, see our guide on 2026 Singapore Salary Benchmarks: What Recruitment Survey Data Means for EP COMPASS and S Pass Salary Compliance.
Who each route is for
The ONE Pass is designed for top-tier talent earning a fixed monthly salary of at least S$30,000, and it allows the holder to work across multiple employers and start companies. A family-office principal who pays themselves a qualifying salary from the family office can be a strong candidate.
The Global Investor Programme is administered by the Economic Development Board and targets established business owners and investors. Its family office option requires the applicant to establish or run a Singapore-based single family office with assets under management of at least S$200 million, of which a portion must be deployed locally. See also our detailed walkthrough on Singapore holding company tax optimisation — Costs and fees breakdown.
Eligibility and requirements
For the ONE Pass, the salary benchmark is the central test, supported by track record with established employers or evidence of standing in the relevant field. For the GIP family office track, the Economic Development Board assesses the applicant’s investment track record, net worth, business or investment experience of at least five years, and a detailed business or investment plan for the Singapore family office.
Both routes require the family office to demonstrate genuine substance in Singapore, including local hiring and spending. A directorship in the family office company falls within the ordinary powers of directors recognised under section 157A of the Companies Act 1967, but immigration approval is separate from company incorporation. Authoritative guidance is published by www.mas.gov.sg and www.iras.gov.sg.
Cost and timeline breakdown
The government fees are modest relative to the capital and salary commitments. The larger costs are the family office set-up, ongoing local business spending, and professional fees for the tax incentive application and immigration filing.
The ONE Pass is typically decided within a few weeks of a complete application. The Global Investor Programme is a longer process, often six to twelve months, because it involves substantive due diligence on the applicant and approval of the family office plan alongside the section 13O or 13U tax incentive application to the Monetary Authority of Singapore.
Step-by-step process
First, incorporate the Singapore family office company and open banking. Second, prepare the fund tax incentive application under section 13O or 13U for submission to the Monetary Authority of Singapore. Third, choose the immigration route: ONE Pass if the salary test is met, GIP family office option if the capital commitment is preferred. Fourth, compile the supporting dossier, including net worth evidence, track record and the family office business plan. Fifth, file and respond to queries. Finally, on approval, complete formalities and, for GIP, meet ongoing conditions to maintain and renew status.
Common mistakes and gotchas
The most common misstep is treating immigration approval and the tax incentive as one application; they run on separate tracks with separate assessors. Another is under-resourcing local substance, which affects both the tax incentive and any later permanent residence renewal.
Applicants also underestimate the assets-under-management and local-deployment expectations for the GIP family office option, and the ongoing spending required to keep a single family office in good standing. Salary paid to a principal must be genuine and properly documented for the ONE Pass route.
Family Office Principal track under ONE Pass and GIP: costs and fees at a glance
| Item | Indicative amount | Notes |
|---|---|---|
| ONE Pass application fee | from S$105 | government processing and issuance fees |
| Family office company incorporation | S$1,500 – S$4,000 | including nominee and secretarial set-up if required |
| Section 13O / 13U incentive application (adviser) | S$20,000 – S$60,000 | indicative professional fee, complexity-dependent |
| GIP family office AUM commitment | from S$200 million | assets under management, with local deployment portion |
Figures are indicative for 2026 and vary with scope and provider. Confirm current fees before relying on them.
Related guides
- 2026 Singapore Salary Benchmarks: What Recruitment Survey Data Means for EP COMPASS and S Pass Salary Compliance
- Section 13O vs 13U: Comparing Singapore’s Two Family Office Tax Incentive Schemes (2026)
- Singapore holding company tax optimisation — Costs and fees breakdown
FAQs
Do I need a family office to get the ONE Pass?
No. The ONE Pass is a talent pass based on a salary benchmark of at least S$30,000 a month. A family office principal who draws a qualifying salary can use it, but the pass itself is not tied to a family office.
What is the minimum for the GIP family office option?
The Economic Development Board requires a single family office with assets under management of at least S$200 million, part of which must be deployed in Singapore-based investments.
How long does approval take?
The ONE Pass is usually decided within weeks. The Global Investor Programme typically takes six to twelve months because of the depth of due diligence.
Is this legal or immigration advice?
No. This is general information. Immigration and tax incentive applications should be reviewed by qualified professionals before filing.
Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.