Singapore will introduce tax exemptions on profits earned by fund managers and widen access to a five-year visa for investment professionals as it seeks to strengthen its position in the asset management industry amid growing international competition, the Monetary Authority of Singapore (MAS) said on Wednesday.
MAS and Singapore's finance ministry plan to provide tax exemptions on profits that fund managers earn from managing certain funds. These will include funds belonging to single family offices. The government will provide more details in the country's budget next year.
