Three Months to Set up: Singapore Reduces Wait Time for Family Offices to Woo World's Super

Three months to set up: Singapore reduces wait time for family offices to woo world's super

Singapore has decided to reduce the wait time for wealthy people to set up family offices in the country, cutting the application processing time from 12 months to three. The initiative aims to enhance the country's wealth management sector while maintaining strict regulatory standards.

Singapore Slashes Wait Time For Family Offices Seeking to Set Up

Singapore’s financial regulator is looking to shorten the waiting time for wealthy people before they can manage assets in the Asian wealth hub, while also seeking to uphold tight standards, a senior official said Wednesday.

Chee Hong Tat: MAS takes ‘risk-proportionate’ approach as family office approvals speed up

Singapore must be willing to take calculated risks to remain competitive in the evolving global wealth management landscape, said Chee Hong Tat, minister for national development and deputy chairman of the Monetary Authority of Singapore (MAS), on 9 July 2025. Speaking during a media doorstop at DBS, Chee underscored the need to balance pro-business agility with stringent regulation to maintain Singapore’s position as a trusted financial hub. “W…