Singapore to Ease Requirements for Family Office Tax Benefits

Singapore 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.

Single family offices are firms dedicated to managing the lives and the wealth of one main clan. Jurisdictions from Hong Kong to Dubai and Malaysia are all offering special benefits in ...