Singapore Fund Manager Tax Measures Delay Hong Kong Relocation Plans

New Singapore fund manager tax measures have prompted some investment professionals to pause planned relocations to Hong Kong as competition between the two financial centres intensifies.

Bloomberg reported that Singapore-based managers had put relocation decisions on hold after Monetary Authority of Singapore deputy chairman Chee Hong Tat outlined new tax and visa incentives during a Singapore Financial Leaders Network meeting.

Singapore plans to exempt qualifying profit-related income earned by fund managers and ease visa requirements for investment professionals.

However, detailed tax rules remain unclear and are expected to be announced in the 2027 budget, normally delivered in February.

Some managers face practical timing pressures because applications for Hong Kong international schools close in November.

Industry executives said it remains too early to determine whether Singapore or Hong Kong will ultimately offer the more attractive package for fund managers, private equity professionals and hedge fund teams.