Singapore Family Office Philanthropy Sends USD30m-Plus to Overseas Causes

Singapore family office philanthropy channelled more than USD30m to overseas causes during 2024 and 2025 under a tax incentive designed to encourage regional charitable giving.

The Monetary Authority of Singapore said there are currently eight approved recipients of incentives under the Philanthropy Tax Incentive Scheme, according to a written parliamentary reply from Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong.

Introduced in 2024, the scheme provides a 100% tax deduction for qualifying overseas donations made through approved Singapore intermediaries.

Single family offices can apply for the incentive alongside other tax schemes, although they are not required to meet specific philanthropic targets.

The programme forms part of Singapore’s broader effort to develop its family office ecosystem beyond investment management by encouraging philanthropic activity and social impact.

Gan also said family offices receiving tax incentives employed more than 2,500 Singaporeans in 2025.