MAS Updates FAQs on Licensing Exemption Framework for SFOs on 31 July 2026

On 12 June 2026, the Monetary Authority of Singapore (MAS) published its FAQs on Licensing Exemption Framework for Single Family Offices (SFO FAQs), which provide guidance on its revised framework for single family offices (SFOs). The revised framework, which took effect on 15 June 2026, introduced a class exemption from licensing for qualifying SFOs operating in Singapore, subject to the conditions for the licensing exemption set out in paragraph 5(1)(ba) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations.

On 31 July 2026, MAS revised the SFO FAQs by adding three new frequently asked questions and updating four others. These revisions will be of interest to SFOs operating in Singapore or proposing to do so, and to SFOs which benefit from, or are considering applying for, the tax incentive schemes under sections 13OA/13O/13U of the Income Tax Act 1947. Our Co-Head of Financial Services Regulatory Elaine Chan and Partners Tian Sion Yoong and Chan Jia Hui, together with Head of Private Wealth Sim Bock Eng and Partners Aw Wen Ni and David Chee, highlight the key revisions to the SFO FAQs.

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MAS Updates FAQs on Licensing Exemption Framework for SFOs on 31 July 2026