The Monetary Authority of Singapore (MAS) announced that the revised framework for Single Family Offices (SFOs) will take effect on 15 June 2026. The revised framework provides a simple, streamlined process for SFOs to establish operations in Singapore, whilst enhancing overall monitoring of SFOs. 

The framework is structure-agnostic, thereby facilitating 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 a 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 its bank.

This revision follows MAS’ earlier public consultation https://bit.ly/3QAlE18 on the revised SFO framework, and its policy responses https://bit.ly/4aOgCF5 to the industry’s feedback published in November 2024. The industry has generally welcomed the changes and provided feedback which MAS has incorporated into the finalised framework.

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  https://bit.ly/4v9kLvq.