Singapore Family Office Gold Rules Gain Flexibility After MAS Reform

Singapore family office gold allocations can now increase without breaching tax-incentive conditions after the Monetary Authority of Singapore removed a 5% portfolio cap on precious metals from Aug. 1.

The change applies to funds and family offices operating under the Section 13O and 13U tax-exemption schemes, giving qualifying investors greater flexibility to hold physical gold as a geopolitical and portfolio hedge.

Raffles Family Office said its baseline allocation remains around 5%, although clients could increase exposure while maintaining tax efficiency.

Moiq Capital said allocations of up to 10% may suit families focused on long-term wealth preservation and intergenerational transfer.

Asia-Pacific family offices surveyed by UBS held around 2% of portfolios in precious metals and planned to increase that to 3% in 2026.

Executives said the reform could also support Singapore's ambition to strengthen its position as a regional gold trading and wealth management centre.