Singapore: Fund Management/ REITs

The Monetary Authority of Singapore (MAS) announced that the revised framework for Single Family Offices (SFOs), which provides a simple, streamlined process for SFOs to establish operations in Singapore, was brought into force on 15 June. The revised framework creates a straight through class exemption from licensing for all qualifying SFOs operating in Singapore, regardless of structure. SFOs that meet the requirements need only notify MAS of their operations and maintain an account with a MAS-licensed bank. They also have to file an annual return with information on the total assets under management and the name of their bank.

This article provides an overview of the recent developments in relation to the Singapore Tax Incentive Schemes for Funds.

The Singapore government unveiled the Singapore Green Plan 2030 ("Green Plan") in February 2021, a "whole-of-nation movement" to advance Singapore's national agenda on sustainable development.