Singapore VCC insights

ONE Pass Singapore Family Office Test: S$30,000 Salary, Limits and Alternatives

By VCC Editorial Team · Published 16 October 2026

Short answer: The ONE Pass suits a principal or chief investment officer who already earns a fixed S$30,000 a month from one established employer. It gives five years of residence, freedom to run several companies and work rights for a spouse. A newly formed family office usually cannot sponsor it, so most principals use an Employment Pass or the Global Investor Programme.

This article is general information only and is not legal, tax or investment advice. For matters needing legal advice, we work with a panel of experienced Singapore law firms.

The question of the ONE Pass for a Singapore family office usually comes up when a principal, or a senior investment hire, wants to live in Singapore without tying residence to one employer. The Overseas Networks & Expertise Pass (ONE Pass) issued by the Ministry of Manpower (MOM) promises exactly that, but its eligibility rules were written for salaried executives of large companies, not for owners of a newly formed single family office (SFO). This article tests the pass against that use case and compares it with the Employment Pass (EP), Option C of the Global Investor Programme (GIP) run by the Economic Development Board (EDB), and the investment professional conditions of the section 13O and 13U fund tax schemes. All sources were checked on 16 October 2026.

Who qualifies for the ONE Pass in 2026?

A candidate qualifies on salary, through a current or last-held job or a future Singapore job paying at least S$30,000 a month, or through outstanding achievements in sports, arts and culture, or academia and research. Business and finance candidates qualify only through the salary route.

MOM’s eligibility page sets out three tracks. Under the current or last-held employment track, the candidate must have earned a fixed monthly salary of at least S$30,000 (or the foreign-currency equivalent) for the 12 consecutive months before the application and, where applicable, have worked for an established company overseas for that period. Under the prospective employment track, the candidate must be due to earn at least S$30,000 a month from an established company based in Singapore, and may apply only when the job will start within 6 months.

Three details matter for wealth professionals. First, the S$30,000 must come from one employer: MOM’s own worked example rejects a candidate earning S$20,000 and S$10,000 from two companies. Second, MOM says other sources of income “may be considered on a case-by-case basis”, which is not a published route for investment income. Third, existing pass holders must have worked in Singapore for at least 1 year before switching. A separate AI and Tech track opens on 28 January 2027 but is aimed at tech founders and technical staff.

Can a principal get a ONE Pass through a Singapore family office?

Usually not as a new hire of the family office itself. The prospective employment track requires the Singapore employer to be an established company, and an SFO with no listed shares and no operating revenue is unlikely to meet MOM’s published test.

MOM defines an established company as one with market capitalisation of at least US$500 million or annual revenue of at least US$200 million, and says combined amounts from the entire global office may be considered case by case. MOM’s FAQ is direct: if the prospective employer does not meet the test, the candidate may reapply after earning S$30,000 a month for 12 consecutive months, or apply for another pass such as the EP. On our reading, a family office inside a large operating group may be able to rely on group figures, subject to MOM’s assessment.

The ONE Pass is therefore most realistic for two profiles:

• A principal who is still a salaried senior executive of the family’s own large operating business, or another established company, at S$30,000 or more a month fixed, and who applies on that last-held employment before moving to Singapore.
• A chief investment officer (CIO) or portfolio manager recruited from a large bank or asset manager where the same salary test has already been met for 12 months.

What can a ONE Pass holder do that an Employment Pass holder cannot?

The ONE Pass is personal rather than tied to an employer, and the holder’s spouse can work on a Letter of Consent (LOC).

MOM’s key facts page lists exemption from the Complementarity Assessment Framework (COMPASS) and the Fair Consideration Framework job advertising requirement, freedom to “concurrently start, operate and work for multiple companies at any one time”, subject to any employment contract, and no need to reapply on a change of job. ONE Pass holders also need no LOC to hold secondary directorships, which suits a principal on the boards of an SFO, a variable capital company and a holding company.

The spouse position is the clearest difference. A legally married spouse on a Dependant’s Pass (DP) under a ONE Pass can apply for an LOC to work for a Singapore employer or to run a business, and MOM charges no fee for it. A DP holder whose spouse holds an EP can obtain an LOC only to set up or operate their own business; to work for an employer, they need their own EP, S Pass or DP-linked Work Permit.

A holder who becomes unemployed need not leave immediately, but MOM may request annual information on activities and income, and long unexplained unemployment may affect the pass.

How long does the ONE Pass last and what does renewal require?

The pass is issued for up to 5 years, and each renewal is for up to 5 years. To renew, the holder must show either a high average salary in Singapore or a Singapore business that employs locals.

MOM’s renewal criteria require one of the following: a fixed monthly salary of at least S$30,000 on average over the past 5 years in Singapore; or having started and operated a Singapore-based company that employs at least 5 locals, each earning at least the prevailing EP minimum qualifying salary. Renewal can be applied for up to 6 months before expiry.

The second limb is the one a family office principal should plan for. An SFO that builds a local team over five years may meet it, but each hire’s pay should be tested against the EP scale in force at renewal, which rises from 1 January 2027.

How does the ONE Pass compare with the Employment Pass and GIP Option C?

The ONE Pass rewards an existing salary record, the EP depends on a Singapore employer, and GIP Option C grants permanent residence (PR) in return for committing capital to a Singapore SFO.

Feature	ONE Pass	Employment Pass	GIP Option C
Status granted	Personalised work pass	Employer-sponsored work pass	Permanent residence
Core threshold	S$30,000 fixed monthly salary from one employer, or outstanding achievements	Qualifying salary by age; financial services S$6,200 to S$11,800 (S$6,600 to S$12,700 for new applications from 1 January 2027), plus COMPASS	5 years’ track record, S$200 million net investible assets; SFO with assets under management of at least S$200 million and S$50 million deployed in EDB specified investments
Who applies	Candidate, employer or appointed employment agent	Employer or appointed employment agent	Applicant to EDB’s Contact Singapore
Duration	Up to 5 years; renewals up to 5 years	Up to 2 years; renewals up to 3 years	Re-entry permit of 5 years
COMPASS	Exempt	40 points, unless fixed salary is at least S$22,500	Not applicable
Multiple companies	Yes, concurrently	Tied to the sponsoring employer	Not restricted by a work pass
Spouse working	LOC available to work or run a business	LOC only to run own business; otherwise own work pass	Spouse included as dependant in the PR application
Processing	Within 4 weeks for most cases	Not compared here	About 12 months

Two points sit behind the table. For the EP, MOM’s list of financial services activities includes fund management and “trusts, funds, and similar financial entities”, so an SFO should plan on the higher financial services scale unless MOM classifies it otherwise. A principal paid at ONE Pass levels would also be exempt from COMPASS under an EP, so the real differences are portability, duration and the spouse’s work rights. GIP Option C requires the S$50 million to be deployed within 12 months of final approval and, for a 5-year re-entry permit renewal, 5 incremental family office professionals including at least 3 Singapore citizens. Our guide to the Global Investor Programme options covers the conditions in full, and our note on PR for family office principals through the Employment Pass route explains the EP path to residence.

Does a ONE Pass holder count as an investment professional for 13O and 13U?

The Monetary Authority of Singapore (MAS) defines qualifying investment professionals (IPs) by role, pay, time spent and tax residence. Its published conditions do not mention work pass type, so they neither exclude nor specifically include ONE Pass holders.

MAS’s page on the fund tax schemes for family offices requires 2 qualifying IPs for a section 13O or 13OA fund and 3 for a section 13U fund, with at least 1 non-family member in each case, and a minimum of S$20 million and S$50 million respectively in Designated Investments. Qualifying IPs “must be employed as a portfolio manager, research analyst or trader who earn more than S$3,500 per month and engage more than 50% of the time in the qualifying activity”, and must be Singapore tax residents throughout the incentive period. MAS Circular FDD Cir 05/2026 of 31 July 2026 governs awards approved on or after 1 August 2026 and allows a fund to apply with 1 IP (section 13O or 13OA) or 2 IPs (section 13U), with the full number required by the end of the basis period of the first year of assessment.

Consequences that follow from the MAS text:

• The IP must be employed by the SFO and spend more than half of their time on fund management, however many other companies a ONE Pass holder runs.
• MAS’s FAQs exclude roles that are mainly operations, administration, finance or accounting, so a principal who only signs off on allocations may not count.
• MAS asks SFO funds to notify it at FO_13OU@mas.gov.sg of changes to investment professionals after approval, which includes a ONE Pass holder leaving for another employer.

Tax residence is decided under the Income Tax Act 1947 and Inland Revenue Authority of Singapore practice, and should be confirmed separately. The mechanics for an existing office are covered in our note on the transition to the MAS SFO framework by 15 June 2027.

How do you apply for a ONE Pass and what does it cost?

The candidate, an employer or an appointed employment agent applies online, pays S$105, and in most cases receives an outcome within 4 weeks. The pass is issued in Singapore on payment of S$225.

1. Gather evidence of 12 months’ fixed salary from one employer and of that employer’s market capitalisation or revenue; MOM accepts only 1 work pass application per candidate at a time.
2. Submit the online application and pay the S$105 application fee by Visa or Mastercard.
3. On approval, use the in-principle approval (IPA) letter, which acts as a single-entry visa and gives 6 months to enter Singapore and have the pass issued.
4. Have the pass issued in Singapore and pay S$225 per pass, plus S$30 for each Multiple Journey Visa if applicable; register fingerprints and photo within 2 weeks if the notification letter requires it.
5. Apply for family passes after approval. MOM warns that DP and LTVP fees may be lost if they are filed together with a ONE Pass application that is rejected.

Which route should a principal or CIO choose?

Choose the ONE Pass where the salary record already exists and flexibility matters most, the EP where the SFO itself is the employer, and GIP Option C where the family wants PR and is prepared to commit S$50 million in Singapore.

A CIO hired from a global manager on S$30,000 or more fixed is the natural ONE Pass holder: one pass covers the SFO role, board seats and any later move, and the spouse can work. A principal who will be paid by the SFO is usually better served by an EP, with the SFO as sponsor, accepting a shorter term and a tie to that employer. A principal with S$200 million of net investible assets who wants PR from the start should look at GIP Option C. Routes can be combined, for example GIP for the principal and an EP or ONE Pass for the investment team that meets the section 13O or 13U headcount. Our sister site Singapore Employment Agency handles work pass applications, and our note on tax residence for principals covers the tax side.

Frequently asked questions

Can investment income count towards the ONE Pass salary threshold?

MOM’s test is a fixed monthly salary of at least S$30,000 from one employer. MOM says other income may be considered case by case, but it publishes no rule that counts dividends or investment returns.

Can a ONE Pass holder be a director of several family entities?

Yes. MOM states that ONE Pass holders do not need an LOC for secondary directorships and may start, operate and work for multiple companies at the same time.

Is the ONE Pass a route to permanent residence?

MOM confirms that ONE Pass holders may apply to the Immigration and Checkpoints Authority for PR. The pass itself does not confer PR, and approval is discretionary.

Can a ONE Pass holder be one of the two IPs for a section 13O fund?

MAS’s published conditions do not refer to work pass type. The person must be employed as a portfolio manager, research analyst or trader, earn more than S$3,500 a month, spend more than 50% of their time on the activity and be a Singapore tax resident.

Sources

• MOM, Eligibility for Overseas Networks & Expertise Pass (last updated 14 September 2026)
• MOM, Key facts on Overseas Networks & Expertise Pass (last updated 14 September 2026)
• MOM, Eligibility for Employment Pass (last updated 28 April 2026)
• MAS, Fund Tax Incentive Schemes for Family Offices
• EDB, Global Investor Programme factsheet

Raffles Corporate Services helps family office principals and their investment teams with SFO incorporation, work pass planning alongside VCC and fund set-up, and ongoing compliance. Email hello@rafflescorporateservices.com or Call/SMS/WhatsApp +65 8501 7133, or visit Raffles Corporate Services.

Last reviewed: 16 October 2026. The Editorial Team, Variable Capital Companies Act.