For families thinking about how to hold their wealth
Your family’s wealth, explained over coffee.
Six short illustrated conversations about fund management, family offices, tax, Section 13O and VCCs. No jargon, no sales pitch — just two cousins, their family, and the questions every family asks.
The series
Six conversations, in order.
Each episode builds on the one before. Start at the beginning, or jump to the question on your mind.
Episode 1 · about 5 min
What does a fund management company actually do?
Two cousins catch up over coffee, and Chandler finally asks Kim what she actually does all day.
Episode 2 · about 4 min
Single Family Offices, explained
Chandler wants to set up a management company for Mum and Dad’s fund company. Kim explains when a licence is actually required.
Episode 3 · about 6 min
Dinner with Tania
The family gathers for dinner, and Tania walks through how Singapore actually taxes rental income, bond interest, dividends and share gains.
Episode 4 · about 8 min
Section 13O, do you qualify?
Back at dinner, the family works through the real Section 13O checklist for a Single Family Office, and runs the actual numbers.
Episode 5 · about 5 min
Alex from Korea: Section 13O for a foreign family
Alex is moving his family to Singapore, and his father wants a Single Family Office. On a walk around the zoo, Chandler helps him work through the AUM, the capital deployment requirement, spending, banking and who owns what.
Episode 6 · about 16 min
VCCs - What are they?
At the site of Alex’s new house, Chandler lets slip that he and Stan invested in a burger chain through a VCC sub-fund. Over hawker food, tennis and a Korean dinner, he finds out what a VCC is, who runs it and what it has to file.
Coming next
Section 13U
Tennis on Wednesday — and the conversation about the enhanced-tier fund scheme.
Tell me when it’s outTwo minutes, five questions
Could your family qualify for Section 13O?
A quick self-check based on Episode 4. Your answers stay on this page — nothing is sent or saved.
Who writes this
Chartered Accountants who look after family wealth.
Coffee with Chandler & Kim is written by AccountingBPO, a Singapore firm of Chartered Accountants and accredited tax professionals, founded in 1997. We help families set up, account for and look after the structures they use to hold their wealth — and we’ll tell you honestly when a structure isn’t worth it yet.
Talk to us about your family’s structure →Meet the team behind it →
Episode 1 of 6 · 15 pages · about 5 min
What does a fund management company actually do?
Two cousins catch up over coffee, and Chandler finally asks Kim what she actually does all day.
The key idea
The fund holds the investments. The management company makes the decisions — and when the family owns the fund company, the family owns the investments.
Wondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Episode 2 of 6 · 11 pages · about 4 min
Single Family Offices, explained
Chandler wants to set up a management company for Mum and Dad’s fund company. Kim explains when a licence is actually required.
The key idea
A family managing its own wealth may not need a fund management licence — if it qualifies as a Single Family Office, and the people it serves really are family.
Want the technical detail? Rachel Chen, our associate tax partner, covers Single Family Offices, CRS and trusts in her video series — in English and Chinese. Watch Rachel’s SFO series →
Next: Episode 3Dinner with TaniaWondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Episode 3 of 6 · 17 pages · about 6 min
Dinner with Tania
The family gathers for dinner, and Tania walks through how Singapore actually taxes rental income, bond interest, dividends and share gains.
The key idea
How investment income is taxed depends on who holds it — you, a company, or a qualifying 13O or 13U fund.
Wondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Episode 4 of 6 · 25 pages · about 8 min
Section 13O, do you qualify?
Back at dinner, the family works through the real Section 13O checklist for a Single Family Office, and runs the actual numbers.
The key idea
Section 13O asks for S$20M in qualifying investments, two investment professionals and a local spending floor — and the tax savings have to outweigh the cost of running it.
Want the technical detail? Rachel Chen, our associate tax partner, covers Single Family Offices, CRS and trusts in her video series — in English and Chinese. Watch Rachel’s SFO series →
Next: Episode 5Alex from Korea: Section 13O for a foreign familyWondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Episode 5 of 6 · 15 pages · about 5 min
Alex from Korea: Section 13O for a foreign family
Alex is moving his family to Singapore, and his father wants a Single Family Office. On a walk around the zoo, Chandler helps him work through the AUM, the capital deployment requirement, spending, banking and who owns what.
The key idea
AUM, the capital deployment requirement and the tax exemption are three different tests — an asset can count for one and not the others.
Want the technical detail? Rachel Chen, our associate tax partner, covers Single Family Offices, CRS and trusts in her video series — in English and Chinese. Watch Rachel’s SFO series →
Next: Episode 6VCCs - What are they?Setting up in Singapore? See our accounting, tax and corporate secretarial services →
Wondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Episode 6 of 6 · 49 pages · about 16 min
VCCs - What are they?
At the site of Alex’s new house, Chandler lets slip that he and Stan invested in a burger chain through a VCC sub-fund. Over hawker food, tennis and a Korean dinner, he finds out what a VCC is, who runs it and what it has to file.
The key idea
A VCC is an investment fund, not a trading company. It holds the business through a Pte Ltd, it must be run by an MAS-permissible fund manager, and each sub-fund’s assets and tax losses are kept separate.
Wondering how this applies to your family?
Ask us on WhatsAppIllustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting.
Section 13O self-check · five questions
Could your family qualify for Section 13O?
Based on the conditions Kim and Tania work through in Episode 4. Your answers stay on this page — nothing is sent or saved.
Illustrative examples only. These figures, structures and conversations are simplified teaching examples. They are not tax, legal, regulatory or investment advice, and they are not an offer or recommendation to apply for any MAS or IRAS scheme. Section 13O / 13U treatment depends on the applicant’s facts, designated investments, AUM tests, spending floors, licensing and current law. Always obtain independent professional advice before acting. Figures as presented in Episode 4, September 2026.