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The Monetary Authority of Singapore's proposed talent route would recognise performance-linked compensation, alongside new tax and hedge fund initiatives aimed at strengthening Singapore’s position as an asset management hub.
The Monetary Authority of Singapore (MAS) and Ministry of Manpower are planning to introduce a dedicated Investment Management Track under the Overseas Networks & Expertise (ONE) Pass framework to attract global asset management leaders and senior investment professionals.
Announced on Wednesday (19 August 2026), the proposed track is intended for individuals who can contribute significantly to Singapore’s asset management industry. It may refine how compensation is assessed for ONE Pass eligibility by recognising established industry remuneration structures, including returns linked to investment performance and fund outcomes.
For senior investment professionals, these performance-linked arrangements can represent a significant and recurring component of total compensation, in addition to fixed monthly salaries, MAS said. The central bank added these measures will "help strengthen the competitiveness of Singapore’s asset management industry, so that it can continue to provide many good jobs for its citizens."
Tax exemption for profit-related returns
The new ONE Pass track forms part of a broader package of measures from MAS designed to bolster Singapore’s competitiveness as a leading asset management centre. The package also includes a proposed tax exemption for qualifying profit-related returns earned from fund management services, as well as a new MAS Hedge Fund Investment Programme.
Singapore’s asset management industry has expanded by an average of 7.5% annually over the past five years, reaching almost S$7tn in assets under management. The sector accounts for around 15% of output in Singapore’s financial sector and 13% of its employment.
Under the proposed tax measure, qualifying profit-related returns arising from fund management services to eligible funds would be exempt from tax. The exemption is expected to take effect from the Year of Assessment 2027, subject to further details to be announced at Budget 2027. Eligible funds are already required to meet economic substance requirements, including minimum headcount thresholds.
MAS Hedge Fund Investment Programme
Additionally, MAS will also introduce a Hedge Fund Investment Programme to invest alongside hedge fund managers that are committed to establishing or expanding their presence in Singapore. The programme is intended to help anchor global and regional hedge fund managers, investment talent and supporting ecosystem participants such as prime brokerages and other service providers.
Together, the three measures aim to encourage asset managers to locate business activities, capital allocation and talent deployment in Singapore.
MAS also noted that the industry remains an important source of high-quality local employment. Nearly 25,000 people work in Singapore’s asset management sector, with locals making up around 80% of the workforce across roles such as portfolio management, investment research, client servicing, and risk management.
Introduced in 2022 and open for applications since January 2023, the Overseas Networks & Expertise Pass (ONE Pass) is a personalised five-year work pass for top talent across sectors. It allows holders to start, operate, and work for multiple companies in Singapore concurrently.
As part of the criteria, applicants will need to earn a fixed monthly salary of S$30,000 and above, which is comparable to the salary drawn by the top 5% of the current Employment Pass holders. Alternatively, individuals officially recognised with outstanding achievements across the arts and culture, sports, science and technology, and research and academia may also be considered for the application of the pass.
Read more on the ONE Pass here.
READ MORE: Singapore announces further updates to COMPASS C1 salary benchmarks for Employment Pass applications
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