Monetary Authority of Singapore Chairman Gan Kim Yong
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Singapore MAS Chairman Gan Kim Yong: Single Family Offices Do Not Qualify for Tax Incentives for Investments in Local Shophouses or Immovable Properties, Family Offices Have Little Impact on Commercial Properties, Residential Properties & Inflation

3rd July 2024 | Hong Kong

Singapore Deputy Prime Minister & Monetary Authority of Singapore (MAS) Chairman Gan Kim Yong reply to Singapore Parliamentary question (2/7/24) – Single family offices do not qualify for tax incentives for investments in local shophouses or immovable properties, and family offices have little impact on commercial properties, residential properties & inflation.  Gan Kim Yong (2/7/24):  Investments made by single family offices in local shophouses or any Singapore immovable properties are not eligible investments under the tax incentive schemes for single family offices.  Accordingly, there is little impact on demand on local shophouses and properties arising from such schemes. It has also been explained in earlier Parliamentary Sittings that family offices have little impact on commercial and residential properties and inflation.”

“ Singapore MAS Chairman Gan Kim Yong: Single Family Offices Do Not Qualify for Tax Incentives for Investments in Local Shophouses or Immovable Properties, Family Offices Have Little Impact on Commercial Properties, Residential Properties & Inflation “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

Singapore MAS Chairman Gan Kim Yong: Single Family Offices Do Not Qualify for Tax Incentives for Investments in Local Shophouses or Immovable Properties, Family Offices Have Little Impact on Commercial Properties, Residential Properties & Inflation

Monetary Authority of Singapore Chairman Gan Kim Yong

Date: For Parliament Sitting on 2 July 2024

Name and Constituency of Member of Parliament

Mr Derrick Goh, MP, Nee Soon GRC

Question:

To ask the Prime Minister and Minister for Finance (a) whether investments by foreign family offices for local shophouses and assets qualify for the Fund Tax Incentive Scheme; and (b) what is being done and whether more will be done to minimise the impact of such investments on local asset demand and inflation.

Answer by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS:

1. Investments made by single family offices in local shophouses or any Singapore immovable properties are not eligible investments under the tax incentive schemes for single family offices.

2. Accordingly, there is little impact on demand on local shophouses and properties arising from such schemes. It has also been explained in earlier Parliamentary Sittings that family offices have little impact on commercial and residential properties and inflation

Oral reply by MAS to Parliamentary Question (9 May 2023) on wealth inflows and family offices; Written reply by MND to Parliamentary Question (9 Jan 2023) on investment by family offices in property pre- and post- COVID-19 pandemic




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 23rd July2024 Investment Day Singapore 25th July2024 Investment Day Hong Kong 4th Sept2024 Investment Day Singapore 11th Sept2024 Family Office Summit Hong Kong 16th Oct2024 Family Office Summit Singapore 23rd Oct / 6th Nov












    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleSingapore MAS Chairman Gan Kim Yong: 6 Single Family Offices Awarded SFO Tax Incentives Linked to Singapore $2.2 Billion Money Laundering Case, Tax Benefits Withdrawn from Financial Year Owners Or Spouses Were Charged or Convicted, Tax Benefits Prior Unable to be Clawed Back Unless Breaches of Tax Incentive Conditions, Assets Forfeited Exceeds Tax Benefits
    Next articleSingapore MAS Chairman Gan Kim Yong: Singapore Retail Investors Can Invest in Cash Equities on Singapore Exchange (SGX), Government Bonds & T-Bills, Mutual Funds, Listed Products Including Equities & ETFs, Access International Markets via Robo-Advisors & Online Trading Platforms, SGX & National Financial Education Program MoneySense Runs Initiatives to Educate Public on Basic Investing Knowledge, SGX Academy Organized 180 Events for 21,000 Participants in 2023, Other Industry Partners Include Securities Investors Association (Singapore), Singapore MAS Launched Research Development Grant Scheme in 2019 to Support Research Houses to Improve Coverage of Singapore-Listed Stocks & Supported 900 Research Reports Covering 130 SGX-Listed Companies
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia