How many family offices are in Singapore? What the counts show

How many family offices are in Singapore today?

As of end December 2025, more than 2,000 single family offices receive tax incentives in Singapore, according to a written reply of MAS in Parliament dated 5 August 2026. The reply footnotes the schemes: the tax incentives for single family office funds under sections 13O and 13U of the Income Tax Act. The wording matters, because each word sets the scope of the figure.

The statement gives a floor, not an exact total. Quote the phrase as MAS wrote it, with the date, and your own notes stay accurate. A precise total for a given day would need a source that publishes one.

How did the number of Singapore family offices grow since 2020?

MAS reported 400 single family offices awarded tax incentives as at 2020. The count grew 3.5 times to 1,400 at the end of 2023, and the first 8 months of 2024 added another 250 to reach 1,650 (MAS speech, 16 September 2024). Each step comes from a different MAS statement, so the dates differ slightly.

A written reply of February 2025 put the count at over 2,000 as at end 2024, and the reply of August 2026 repeats more than 2,000 for end 2025 (MAS, 2025 and 2026). Over 5 years the series rises from 400 to more than 2,000, which is a fivefold rise. Read the 2 ends of the series together, and the direction is plain.

What does the MAS count of family offices include?

The MAS count covers single family offices awarded tax incentives under sections 13O and 13U for their funds. It counts offices that serve one family, which MAS says manage only the monies of the family and do not serve third-party clients (MAS, 2025). MAS also states that these offices are not subject to licensing under the Securities and Futures Act.

An office without an incentive sits outside this count, and so does a multi-family office. The figure therefore measures incentivised single family offices, which is a clear and useful definition. Keep the definition next to the number whenever you quote it. Name the scheme whenever you cite the figure.

Why do sources give different counts of family offices in Singapore?

Sources differ on 3 points: the definition of a family office, the date and the method. One source counts offices with incentives, another counts offices found in a survey, and a third estimates offices from the wealth of residents. Each method answers a different question. Write the method next to the number in your notes.

Compare like with like. Check whether the figure covers single family offices or multi-family offices, which date it uses and who produced it. MAS wording such as over 2,000 sets a floor, while a survey figure often gives a point estimate, so keep the 2 apart in your notes. Dated sources keep the story of the market easy to follow.

Which families run the family offices of Singapore?

MAS states that single family offices in Singapore manage wealth for families mainly from the Asia Pacific region, followed by Europe and the Americas (MAS, 2026). A family from Asia that sets up in Singapore therefore joins a group that already includes many families from its own region. This regional mix matters for the choice of advisers, languages and time zones.

The same reply notes that single family offices grow alongside the broader asset management industry, which reached S$6.7 trillion in assets under management in 2025. This figure covers the industry, not the family offices alone, so use it as context for the provider ecosystem. Check the date of any later update.

How will the new MAS notification affect the count of family offices?

The revised framework took effect on 15 June 2026. Qualifying offices notify MAS, keep an account with a MAS-licensed bank and file an annual return stating total assets under management and the name of their bank (MAS media release, 2026). Existing offices have until 15 June 2027 to comply. Each annual return follows the financial year end of the office, with a delay of up to 4 months.

MAS says the framework improves its monitoring of single family offices. Notifications and annual returns can give a regular, dated record of the offices that operate, so future counts may rest on filings as well as on tax incentive awards. Watch the next MAS statements for that change.

How should a family use the count of family offices in its decision?

Use the count as context. A large group of offices means a deep market of banks, lawyers, auditors and recruiters who know the work. The count describes the market, and the fit with your family depends on assets, people and goals. A count can also prompt a family to ask providers how many offices they serve.

Ask the questions that only your family can answer: which functions you need, what you can run each year and whom you trust. EQOS Asia scores a family decision and ranks the options (EQOS Asia private page, 2026). A pre-diagnostic applies that method to the question of fit.

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About the author

Stéphane Jambu

President, EQOS Forecast Asia

Stéphane Jambu leads EQOS Forecast Asia and works as a consultant in e-commerce, search visibility, and AI. LinkedIn profile