Singapore Unveils New Fund Tax and Visa Incentives
Singapore announced new tax exemptions and visa perks for fund managers and investment professionals. The move aims to counter competition from Hong Kong in the regional asset management sector.
Singapore will introduce tax exemptions on fund manager profits and ease visa rules to counter competition from Hong Kong. The central bank announced the policy shift following industry warnings over tax gaps. The measures aim to protect a fund sector that has grown 7.5% annually over the past five years to reach nearly S$7 trillion in assets.
