The Monetary Authority of Singapore (MAS) has announced that a revised framework for Single Family Offices (SFOs) will be implemented on 15 June 2026. This new framework aims to simplify the process for SFOs to establish operations in Singapore whilst enhancing the monitoring of these entities.
The updated framework is designed to be structure-agnostic, allowing for a straightforward class exemption from licencing for all qualifying SFOs in Singapore. To comply, SFOs must notify MAS of their operations and maintain an account with a MAS-licensed bank. Additionally, they are required to file an annual return detailing the total assets under management and the name of their bank.
This revision follows a public consultation by MAS on the SFO framework, with industry feedback incorporated into the finalised guidelines. The industry has generally welcomed these changes, which aim to streamline operations and improve oversight.
Existing SFOs in Singapore will have a one-year transitional period, until 15 June 2027, to align with the new framework. Further details can be found in the Frequently Asked Questions on the Licencing Exemption Framework for Single Family Offices.
The revised framework reflects MAS’s commitment to maintaining Singapore’s position as a leading hub for family offices, ensuring regulatory processes are efficient and transparent.
