Singapore

Singapore runs its fund industry through a single national authority that is also the central bank. The Monetary Authority of Singapore licenses the managers, while a corporate structure built for investment funds, the variable capital company, has been available since January 2020 and is registered with the companies registrar. The legal system is common law, with English common law and equity carried into Singapore law by statute.

Managers come to Singapore for access to pan-Asian opportunities from a common law base, under one integrated regulator. The regimes divide by layer: the Monetary Authority licenses the fund manager under the Securities and Futures Act, the companies registrar registers the fund vehicle, and the Authority also runs the section 13O and 13U tax incentive schemes that single family offices rely on.