Singapore: Wealth & Asset Management

Singapore's Monetary Authority has introduced a comprehensive new regulatory framework for single family offices, replacing the previous corporate group-based exemption system with a structure-agnostic notification-based approach.

As geopolitical tensions rise and regulatory landscapes shift, wealthy families are abandoning traditional single-jurisdiction structures in favor of multi-hub family offices that span borders.

Geopolitical instability is prompting ultra high net worth Asian families to reassess their wealth structures and consider diversifying their presence across established financial centres. Singapore and Hong Kong continue to attract international capital through robust legal frameworks, sophisticated private wealth ecosystems, and strategic access to global markets, while families increasingly adopt multi-hub strategies to manage risk and ensure long-term resilience.

On 16 Feb 2024, the Singapore Government announced in its 2024 Budget that it would extend the tax exemption schemes under S13D, S13O and S13U of the Income Tax Act 1947 ("ITA") for fund vehicles managed by Singapore-based fund managers from 2025 onwards.

I looked at the risks to which settlors of trusts in Singapore can be exposed if they take advantage of Section 90(5) of the Trustees Act to reserve for themselves "any or all powers of investment or asset management functions".

With the proliferation of family offices in Singapore, more questions on effective family governance have been raised.

While previously intimidating to many, the acronym ESG – Environmental, Social, and Governance – stands for a lofty vision that appeals to asset owners, managers and investors alike.

On 25 June 2020, the Monetary Authority of Singapore (MAS) launched consultations on a series of Proposed Guidelines on Environmental Risk Management (the Guidelines)...

Offshore jurisdictions have historically been popular places to incorporate investment holding vehicles.