Singapore is strategically located in the heart of Asia, and offers financial institutions excellent infrastructure, a highly skilled and cosmopolitan labour force, and access to investors. The Singapore government makes continual efforts to develop the fund management industry by providing a stable economic and political environment that is conducive to business operations. These factors make Singapore a choice location for setting up fund management operations focused on investments in Asia, particularly India and Southeast Asia.
However, the changing global environment is putting increasing pressure on financial centres, including Singapore, to re-invent themselves to remain at the forefront of the industry.
PwC Singapore has developed a white paper to consider the various aspects of a new investment fund framework to make Singapore the jurisdiction of choice for the fund management industry to set up funds. In support of the white paper, PwC Singapore has conducted a high level survey of representatives from the asset management community in Singapore and carried out a jurisdictional benchmarking study to compare Singapore with other established international fund centres. Following our previous chapters which summarise the results of the survey and key findings of the benchmarking study, we will now look at what changes may be introduced from a tax perspective to create even more opportunities for the asset management industry.