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13O/13U & GIP

Understanding 13O/13U and GIP

With the growth of wealth in Asia over the last several decades, many wealthy families are now considering transferring their assets to the next generation. However, there is still a significant lack of planning in how to do it successfully at this moment.

Singapore, being one of Asia’s most renowned financial centers, has jumped on this trend and has introduced a number of appealing measures to entice wealthy families to use it as a base to manage their assets by boosting the family office sector in Singapore. Kaiyy Immigration offers a variety of resources and frameworks that enable families to utilize these regulations to guarantee tax compliance and effective wealth management.

Singapore’s government has granted tax exemptions for assets handled by family offices. As a result, practically all investment profits made by assets handled by family offices will be exempt from Singapore income tax. The following are the supporting guidelines:

1. Onshore Fund Tax Incentive Scheme (13O)
2. Enhanced-Tier Fund Tax Incentive Scheme (13U)
3. Global Investor Program Family Office Option (GIP-FO)

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Onshore Fund Tax Incentive Scheme & Enhanced-Tier Fund Tax Incentive Scheme

The Monetary Authority of Singapore (MAS) manages the 13O and 13U schemes under the Singapore Income Tax Act (SITA). Qualified applicants will be given employment passes (EP) as well as tax exemptions on specified revenue earned by an authorized company/person from funds managed by a Singapore-based fund manager.

Key Features of 13O & 13U:

 Additionally, the 13O and 13U schemes have been recognized as part of the Variable Capital Companies (VCCs) program, which was established by the MAS to promote Singapore as a regional domiciliation centre.

VCCs provide more structural and functional versatility. It enables the creation of a master umbrella framework with several sub funds beneath it.
Enables for share payouts from NAV and dividend distributions from capital VCC shareholders registration will not be made public, providing investors with discretion.

What if you are holding only Work Permit and do not fit into the above criteria but would like to apply for PR as well?

Do not fret, we have just the solution for you.

In conjunction with one of Malaysia’s Top 5 universities, we introduce the Enhancement Program.

Recognized by MOM, the Enhancement Program is a part time diploma that you can take in 1 year with 5 different courses that you can choose from.

How does taking up a diploma course help you get PR?

By taking up a diploma, you may negotiate for a salary increment with your company along with an upgrade to S Pass or secure a position in a new company that can offer you S Pass. With that, in 6 months time, you may apply for PR.

Courses Available:

  • Business Management
  • Accounting & Finance
  • Global Logistics & Supply Chain Management
  • Engineering Management
  • Early Childhood Education
  • Contact our immigration consultants now to find out more!

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