Wealthy individuals setting up family offices in Singapore through the Global Investor Programme (GIP) face new challenges as authorities tighten investment rules to support the local stock market. Under revised guidelines, new applicants must allocate at least SGD50m (USD37.6m) of assets under management to Singapore-listed equities, excluding real estate investment trusts and business trusts. Previously, investments could be spread across various asset classes. Market observers say the move could strain families with AUM near the SGD200m threshold, given Singapore’s limited market size and lack of high-growth sector representation. The Monetary Authority of Singapore’s latest changes follow 2023 tax incentive revisions for single-family offices, reinforcing a shift toward boosting domestic investments despite concerns over diversification constraints in the city-state’s stock market.