Singapore’s new family office framework will give clarity, but may not be enough to attract more super rich

Higher disclosure requirements may push wealthy families to lighter-touch jurisdictions

THE upcoming roll-out of Singapore’s single-family office (SFO) framework will likely provide ultra-wealthy families with greater clarity, and attract those seeking certainty and transparency, market observers said.

But the framework may not appeal to wealthy families who want simplicity and the best tax incentives, they noted.

On Nov 6, the Monetary Authority of Singapore (MAS) responded to feedback on its proposed framework for Singapore’s SFOs, with details on the roll-out likely to be announced in due course.

Copyright SPH Media. All rights reserved.