13X Tax Incentive Scheme

Tax Exemption on Specified Income from Designated Investments, derived by an Approved Person Arising from funds managed by a fund manager in SG.

Conditions:

  • Approval required from MAS
  • Has a minimum fund size of SGD $50 million at the point of application
  • The Family Office employs at least three investment professionals (which can be family members)
  • At least SGD $200,000 local business spending per year
  • Uses a SG-based fund administrator if the fund is a SG incorporated and tax resident company (holds CMS licence, or express exemption from CMS licence)
  • Cannot concurrently enjoy other tax incentives
  • No change in investment strategy/objective after being approved by MAS

To Incorporate:

  • Fund (Singapore/Offshore) to own assets
  • Family Office (Singapore) to manage the Fund

Examples of Designated Investments:

  • Stocks and Shares
  • Bonds, Notes, Commercial papers, Treasury bills and Certificates of Deposits
  • Exchange traded funds or any other securities

Examples of Specified Income:

  • Dividend
  • Interest
  • Coupons
  • Gains from sale of securities