Home Knowledge Singapore Singapore Taxation Tax Incentive for Funds and Fund Management Company in Singapore
Item |
Section 13CA |
Section 13R |
Section 13X |
Fund’s Legal Form |
Companies, trusts and individual |
Company incorporated in Singapore |
Company, trust and limited partnerships |
Fund’s Residence |
Non-tax resident of Singapore with no presence in Singapore (other than the Singapore fund manager and/or Singapore-based trustee if the fund is organised as a trust). |
Must be tax resident of Singapore. |
Can be offshore or onshore |
Fund Manager |
Singapore-based and registered with the MAS or holding a CMS license |
Singapore-based and registered with MAS or holding a CMS license |
Singapore-based and registered with MAS or holding a CMS license |
Additional Requirement |
N.A |
At least SGD200,000 business spending per year, using Singapore -based fund administrator, no change in investment strategy after approval |
Minimum fund size of SGD50million, at least SGD200,000 local business spending per year, using Singapore based fund administrator if fund is a Singapore incorporated and resident company, no change in investment strategy after approval |
Investors |
Non-qualifying investors (i.e Singapore non-individuals investing above a certain percentage in the fund) would need to pay a penalty to the Singapore tax authority |
Non-qualifying investors(i.e. Singapore non-individuals investing above a certain percentage in the fund) would need to pay a penalty to the Singapore tax authority |
No restrictions |
Approval Requirement |
Not required |
Required approval from MAS |
Required approval from MAS |
Distinctive Features |
No approval needed form MAS |
Able to access Singapore Double Tax Treaty network |
Can apply to both onshore and offshore limited partnerships as well as companies |
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