Singapore Family Office Regulation 2025 Sees 3% of Bids Rejected and Incentives Clawed Back

The Singapore family office regulation 2025 update shows that 3% of around 1,300 applications for tax-exempt family offices were blocked over the past three years, while incentives were clawed back from two vehicles linked to the Prince Group, sanctioned by the UK and US for large-scale scams. Authorities said police seized more than SGD150m (USD110m) in assets, including properties and accounts. Singapore has tightened scrutiny after a SGD3bn money-laundering case in 2023 that led to six single-family offices losing tax incentives. Entities tied to financial crimes remain under 1% of the sector. The number of family offices nearly tripled to more than 2,000 by end-2024, up from 700 in 2021, as banks intensify due diligence and close non-compliant accounts.