MAS eases family office tax rules, widens AML checks as Singapore vies for global wealth
The Republic continues to emphasise transparency and strong governance as it sharpens its appeal as a well-regulated financial hub
The Monetary Authority of Singapore (MAS) has simplified the process for family offices to qualify for tax incentives, while simultaneously tightening scrutiny of the sources of their wealth. This move comes as Singapore vies for global recognition as a well-regulated financial hub. The changes, implemented on July 31 and effective from August 1, were detailed in a circular sent to fund managers, trust companies, and banks.
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