Digital tokens eye tax-exempt status as Singapore reviews family office list

MAS will announce the updated list and its implementation date at a later stage.

Singapore is reviewing its tax policy framework as single-family offices seek greater flexibility to invest in assets such as digital payment tokens and insurance policies, Deputy Prime Minister Gan Kim Yong said.

The Monetary Authority of Singapore (MAS) will review the designated investment list, which sets out the types of investments that can qualify for tax exemptions under Singapore’s tax incentive schemes for funds.

This comes as geopolitical dynamics, technological advances, and changing investor preferences make wealth management more complex, Gan said at the Wealth Management Institute’s Global-Asia Family Office Summit.

Gan said MAS will announce the updated list and its implementation date at a later stage.

A new generation of family wealth owners is also bringing different approaches to how wealth is managed, invested, and deployed, he added.

“Families must respond to new opportunities and growing expectations, whilst staying true to their values and long-term goals. They will need trusted advice, global connections, and access to diverse investment opportunities,” Gan said.

Beyond wealth management, Gan said family offices could contribute to Singapore’s economy through investments, business networks, and long-term capital for start-ups and other high-growth companies.

Singapore has almost 4,000 start-ups, representing about 40% of Southeast Asia’s total. Gan said families could use their business experience and networks alongside capital to support young companies in Singapore and across Asia.