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Singapore Wants Family Offices' Use Of Tax Benefits To Get Easier – Report

Editorial Staff

30 September 2025

Singapore wants to make it easier for single-family offices to use a tax benefit programme as competition for ultra-wealthy clients intensifies, Bloomberg reported.

The   at one stage, according to Chee.

“Today, most new applications are approved within three months,” he said. “We may not get everything right in the first instance, just like many other jurisdictions,” Chee said. “We are very open to listening to feedback from the industry and we work together with them to see how we can make things better.”

As reported here, Singapore has turned up the regulatory heat on financial services following the 2023 money laundering scandal. One consequence, as WealthBriefing has heard, is that client onboarding into banks and external managers has slowed and become increasingly burdensome. The Asian city-state has also brought in new regulatory requirements for family offices following a large inflow.