At a glance
Programme detail
Summary
Agency
Monetary Authority of Singapore (MAS)
Support type
Tax Incentive
Status
Open
Application cycle
Rolling
Local ownership
No local ownership requirement
What does it support?
The scheme supports approved insurance, reinsurance and specialised insurance activities through the relevant IBD award category.
Who can apply?
MAS-regulated insurers, reinsurers and other qualifying insurance-related entities must undertake substantive approved activities in Singapore and meet the agreed economic commitments.
How does the support work?
Tax treatment is set by the particular IBD sub-scheme. Confirm its current concessionary rate with MAS rather than applying one rate across all insurance activities. No universal monetary cap is stated.
What expenditure can qualify?
The benefit is based on qualifying insurance income rather than reimbursement of project or operating costs.
Key conditions
The applicant must satisfy its sub-scheme’s requirements and maintain the approved Singapore operations and business commitments for the award period.
Timing and application process
Discuss the intended activity with MAS to identify the relevant category, income scope, rate and application requirements. The programme uses rolling engagement.
Important programme distinctions
Insurance-related activities can fall under different award rules. A rate applicable to one sub-scheme should not be carried over to another without confirmation.
Official programme sources
mas.gov.sg (opens in a new tab)Last verified: 28/10/2026