Do Singaporeans pay US estate tax on US stocks and funds?
Short answer: Yes, potentially. A Singaporean who is not a US citizen or US domiciliary is exposed to US estate tax on US-situs assets — including US shares, US-domiciled ETFs and US real estate — above an exemption of only $60,000. There is no US–Singapore estate tax treaty to raise that amount, and rates reach 40%.
Written and reviewed by Anthony Walsh, Selanis. Last reviewed 2026-10-06.
Why it works this way
US estate tax for non-resident aliens applies to assets considered located in the US. US company shares and US-domiciled funds count, even when held at a Singapore broker.
Singapore abolished its own estate duty in 2008, so many Singapore families do not expect any inheritance tax at all.
The issue is most acute for Singaporeans who built large US portfolios while working in the US and kept them after moving home. Estate documents and structures are a matter for a qualified attorney; the planning question is understanding the exposure and how the portfolio is held.
The expensive mistake: Holding US-domiciled ETFs directly as a Singapore resident
Many Singapore residents buy VOO or similar ETFs for the low fees, unaware that the holdings sit inside the US estate tax net above $60,000.
What to do
- Total your US-situs assets — Include US shares, US ETFs and any US property.
- Compare fund domiciles — Understand how non-US-domiciled funds differ for estate tax and withholding.
- Talk to an estate attorney — If the exposure is material, have a qualified attorney review how assets are held.