Bhutan and Singapore Sign Tax Pact to Support Gelephu Family Office Hub

Bhutan and Singapore have signed a double tax avoidance agreement aimed at strengthening investment, trade and economic cooperation while supporting Bhutan’s ambitions to develop Gelephu Mindfulness City into a regional business and family office hub.

The Bhutan Singapore tax pact was signed in Singapore by Bhutan Finance Minister Lekey Dorji and Singapore official Jeffrey Siow.

The agreement is Bhutan’s third bilateral tax treaty and is expected to clarify taxing rights on cross-border income, reduce the risk of double taxation and improve investor confidence between the two countries. The treaty also includes provisions covering tax cooperation, information exchange and safeguards against treaty abuse.

Bhutan has positioned Gelephu Mindfulness City as a long-term economic and innovation hub for South Asia targeting investors, financial institutions, companies, family offices and professional service providers.

Authorities hope the project will attract sustainable investment flows and strengthen Bhutan’s role in regional trade and financial connectivity.

The agreement also reflects Singapore’s expanding role as a partner for emerging Asian investment hubs seeking to develop cross-border financial ecosystems and internationally recognised tax frameworks.