Revised framework for Single Family Offices from 15 June 2026

30 July 2026

On 12 June 2026, the Monetary Authority of Singapore (“MAS”) announced that the revised framework for Single Family Offices (“SFOs”) would commence on 15 June 2026. The revised framework provides a simple, streamlined process for SFOs to establish operations in Singapore, while enhancing overall monitoring of SFOs.

Designed to be structure-agnostic, the framework facilitates a straight through class exemption from licensing for all qualifying SFOs operating in Singapore. SFOs that meet the requirements need only notify MAS of their operations and maintain an account with an MAS-licensed bank. They will also have to file a straightforward annual return with information on the total assets under management and the name of their bank.

To operate in Singapore under the licensing exemption framework, the SFO must meet the following conditions:

  • The SFO can only conduct fund management for or on behalf of:
  • family members, including family trusts and corporations wholly owned by, and for the sole benefit of, the family;
  • charitable organisation(s) funded exclusively by the family; and/or
  • key employees (executive directors, chief executive officer, chief financial officer, and investment professionals). Assets originating from key employees must not exceed 10% of the total value of the SFO’s assets under management in aggregate.
  • The SFO can be held via a trust, foundation, or any other legal structure, so long as the funding of the SFO originates exclusively from:
  • members of the same family, whether directly or indirectly; and
  • key employees, who are allowed to own a non-controlling stake of up to 10%.
  • The SFO must be incorporated in Singapore.
  • The SFO and its fund vehicle(s) must each open and maintain a bank account with a MAS-licensed bank. Foreign-incorporated fund vehicle(s) may open and maintain an account with a MAS-licensed bank in Singapore, or with a regulated bank in a jurisdiction that complies with anti-money laundering and countering of financing of terrorism requirements consistent with the standards set by the Financial Action Task Force.

MAS launched the revised SFO framework following its public consultation on the proposed revised SFO framework in August 2023 and its response to the feedback published in November 2024.

Existing SFOs operating in Singapore will have a transitional period of one year (i.e. till 15 June 2027) to comply with the revised framework. For further details on the revised framework for SFOs, please refer to the Frequently Asked Questions (FAQs) on Licensing Exemption Framework for Single Family Offices.

Reference materials

The following materials are available on the MAS website www.mas.gov.sg: