How it works
Under MAS circular FDD Cir 05/2026 (31 July 2026): 13O needs at least S$20 million in designated investments and two investment professionals; 13U needs S$50 million and three. At least one professional must not be a family member. For basis periods ending on or after 1 August 2026, business spending tiers are S$200,000 below S$250 million of assets, S$500,000 up to S$2 billion, and S$1 million above. Local investment: the lower of 10% of assets or S$10 million, in eligible Singapore assets.
Worked example
S$60 million, two professionals including one non-family member, S$300,000 planned spending: meets 13O; 13U needs a third professional; spending meets the S$200,000 tier; local investment of S$6 million.
Questions people ask
What is the minimum for 13O?
S$20 million in designated investments, at application and every year end.
How many investment professionals?
Two for 13O, three for 13U, at least one not a family member.
When do the new spending tiers apply?
For basis periods ending on or after 1 August 2026.
Sources
Last checked 1 November 2026. General information only, not advice for your situation. Speak to a qualified adviser before you act.