Singapore family offices look to consolidate amid regulatory pressures
Family offices in Singapore are increasingly being forced to share operational resources or merge with other family offices, amid rising cost and regulatory pressures.
![Singapore family offices look to consolidate amid regulatory pressures](https://cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2Fshutterstock_793744309.jpg&c=1&h=677&q=100&v=20242701&w=1204)
Singapore family offices (FO) are assessing sharing operational resources or mergers after stricter tax and anti-money laundering regulations were imposed in July by the Monetary Authority of Singapore (MAS).
Family offices boomed during the pandemic, with the number of Singapore-registered firms jumping from 50 in 2018 to 1,100 at the end of 2022.
However, a $2 billion money laundering case that emerged -- the largest money laundering case that Singapore has ever seen -- put s…
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