Singapore to Ease Requirements for Family Office Tax Benefits
In Singapore, more than 2,000 single family offices have been granted tax exemptions as of 2024.
Photographer: Ore Huiying/BloombergSingapore is seeking to make it easier for single family offices to tap a tax benefit program, amid rising competition for the global super rich.
The Monetary Authority of Singapore is looking to reduce the documents needed for applications and ease reporting requirements, Deputy Chairman Chee Hong Tat said in a speech on Monday. It is also considering expanding the types of investments eligible for the program, he said.