IFC Review: Singapore as an Asian fund hub - The growing trend of “onshoring”

5 September 2024

Allen & Gledhill Managing Partner Jerry Koh, Partners Sunit Chhabra and Jonathan Lee, and Senior Associate Foo Jia Yu contributed an article titled “Singapore as an Asian fund hub: The growing trend of ‘onshoring’” to the IFC Review.

Traditionally, private funds have been established in “offshore”, tax neutral jurisdictions such as the Cayman Islands and the British Virgin Islands. However, recent developments against tax avoidance and the enhancement of anti-financial crime measures globally, coupled with the promulgation by regulators of new fund structures and incentives to boost the asset management industry in “onshore” jurisdictions, have resulted in a growing trend of fund managers establishing their funds in “onshore” jurisdictions like Singapore. This article provides a detailed exploration of the topic.