Why Singapore Family Offices Are Popular Among Global High-Net-Worth Families?

Why Has Singapore Become the Top Choice for Global High-Net-Worth Families Seeking Family Offices?

In recent years, Singapore’s standing in global wealth management has continued to rise, particularly in the high-end segment of family office services. Today, it has become a top destination for affluent families worldwide. According to a Bloomberg report published at the beginning of 2025, the number of single-family offices established in Singapore grew by more than 60% over the past two years, drawing interest from wealthy families across Asia, the Middle East, and even Europe. What, then, are the key factors behind Singapore’s growing appeal as a hub for family offices?

First and foremost, Singapore boasts strong financial infrastructure and a robust regulatory environment-key attractions for high-net-worth individuals. As a leading global financial center, Singapore offers a highly developed banking system, a well-established legal framework, and transparent tax policies. The Monetary Authority of Singapore MAS, the country’s central bank and financial regulator, has long been committed to building a stable, efficient, and compliant financial ecosystem. This regulatory stability provides a predictable operating environment for family offices, significantly enhancing investor confidence.

Secondly, Singapore's tax regime is highly competitive. Compared to the relatively high capital gains and inheritance taxes in Western countries, Singapore implements a low-tax policy and offers clear tax exemptions for non-resident income. For example, single-family offices often benefit from the 174A tax incentive scheme, under which qualifying investment income is exempt from income tax. Moreover, Singapore does not impose an inheritance tax-an important consideration for families seeking effective wealth succession strategies.

In addition, Singapore offers unique advantages in terms of geography and cultural inclusiveness. As a strategic gateway connecting East and West, Singapore serves not only as a bridge to China, India, and Southeast Asia but also provides a welcoming environment for families from diverse cultural backgrounds. Many Asian entrepreneurs, while expanding their global businesses, still wish to maintain close ties with Asian markets-something Singapore facilitates effectively.

Meanwhile, increasing global geopolitical risks-especially tensions between the U.S. and China and the European energy crisis-have prompted wealthy individuals to reassess their asset allocations and residency choices. According to a Financial Times report from late 2025, affluent families from China, India, and the Middle East have been shifting assets from traditional centers like Switzerland and the United States to Singapore. This trend continued into 2025, and in fact, accelerated. Singapore’s neutral stance, combined with its stable governance and operational efficiency, has positioned it as a safe haven for global capital.

The city-state's growing emphasis on family offices and supportive policy framework further enhance its appeal. In recent years, Singapore has rolled out a series of incentives to encourage family offices to set up and operate locally. For instance, the Economic Development Board EDB and the MAS jointly launched the Global-Asia Nexus Scheme GAN, offering tailored support including tax incentives, talent recruitment assistance, and office space subsidies. These initiatives not only reduce operational costs but also strengthen Singapore’s competitiveness in the global family office landscape.

Equally important is Singapore’s world-class education, healthcare, and overall quality of life. Its international schools, bilingual education system, and top-tier medical facilities provide high-net-worth families with a high standard of living. Coupled with excellent public safety, efficient transportation, and effective urban governance, Singapore has become an ideal residential destination for the global elite.

Moreover, the rise of family offices in Singapore has spurred growth in related industries such as legal services, accounting, asset management, and private banking. This ecosystem of professional services further enhances Singapore’s attractiveness as a family office hub.

In conclusion, Singapore has become the preferred choice for global high-net-worth families to establish family offices not only due to its stable financial environment and favorable tax policies, but also because of its strategic location, proactive government support, and superior living conditions. In an era of increasing global uncertainty, Singapore continues to rise as a pivotal player in the global wealth management landscape.