Heng Swee Keat: Singapore to Explore Simplification of Family Office Tax Incentive Schemes-FOZL

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Heng Swee Keat: Singapore to Explore Simplification of Family Office Tax Incentive Schemes

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2025-10-05 15:39

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Heng Swee Keat: Singapore to Explore Simplification of Family Office Tax Incentive Schemes

Singapore, September 30, 2025 — Deputy Prime Minister and Minister for Finance Heng Swee Keat announced at the Singapore Tax Conference that the government is actively reviewing its tax policies to ensure the nation remains competitive on the global stage. Among the areas under consideration is the potential simplification of family office tax incentive schemes.

Heng highlighted that with the growing global demand for wealth management, Singapore must enhance both the flexibility and attractiveness of its tax framework while maintaining stability and fairness. He noted that the number of family offices in Singapore has continued to rise, contributing positively to the local financial and investment ecosystem. To further strengthen Singapore’s position as a leading global wealth management hub, the government will study ways to streamline and simplify tax requirements for family offices.

He further emphasized that Singapore will continue to work closely with the international community, advancing tax modernization on the basis of compliance and transparency, thereby ensuring a predictable and stable policy environment for businesses and investors.

As a professional institution deeply rooted in Singapore and the regional market, Fozuling has extensive expertise in family office establishment and tax planning. We provide tailored solutions for high-net-worth clients and multinational enterprises. Whether in wealth succession, cross-border investment structuring, or tax compliance and optimization, Fozuling leverages policy insights and local advantages to create long-term value, helping clients achieve sustainable growth in Singapore and beyond.

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