In response to tighter regulations and heightened scrutiny, the processing time for setting up family offices in Singapore has extended to up to 18 months, driven by increased demand and concerns over money laundering. The city’s financial sector, already affected by a large money-laundering probe, is carefully screening family office applications to ensure compliance, with a focus on transparency and risk management. The government’s efforts to foster family offices remain crucial, but regulatory changes, including new investment and staffing requirements, have slowed the registration process.

The Monetary Authority of Singapore (MAS) has implemented stricter criteria, such as a minimum fund size and a required investment in local businesses. This has led to a 20-30% slowdown in deal flow, with some applicants waiting over a year for approval. Despite these challenges, family offices continue to contribute significantly to the city’s wealth management sector.