As a single family office (SFO) manages the assets of a single family and does not serve third-party customers or manage third-party monies, an SFO is exempt from licensing and business conduct requirements under the SFA, which are aimed at safeguarding the interests of third-party customers. An SFO must file a Notice of Commencement of Business with MAS , maintain accounts with a MAS-licensed bank for the SFO and its fund vehicles in Singapore, and submit annual returns.

Please refer to the Frequently Asked Questions on Licensing Exemption Framework for Single Family Offices for more information.