What are family office tax incentives?

Family office tax incentives are benefits offered to family-run financial institutions, usually involving tax breaks or exemptions. These incentives aim to attract high-net-worth individuals by reducing their tax burden, thereby promoting economic activity in the host region.

Why did Singapore revoke tax incentives for family offices?

Singapore revoked tax incentives following allegations involving the Chen Zhi scandal linked to Cambodia's Prince Group. The move is part of broader efforts to curb financial malpractice and maintain the integrity of its financial system.

How does the revocation of tax incentives impact family offices?

Revoking tax incentives may lead family offices to reassess their operational strategies. This could involve restructuring or relocating to align with the new regulatory environment, ensuring compliance, and maintaining operational efficiency.

Law and Government

Singapore’s Crackdown: Impact on Family Office Tax Incentives

ByHuzaifa Zahoor November 6, 2025November 6, 2025

Singapore recently tightened its grip on financial practices by revoking tax incentives for family offices linked to Cambodia’s Prince Group. This move stems from the Chen Zhi scandal, highlighting Singapore’s focus on combating financial malpractices. With the Monetary Authority of Singapore (MAS) stepping up regulations, investors are questioning the future landscape of tax-exempt entities in the region. The decision underscores Singapore’s commitment to transparency and regulatory integrity while posing challenges for international investors.