Latest Update: Singapore’s Family Office Growth Hits New High!

  • Article Release Date: September 17, 2024

Singapore’s Family Office Boom: The Super Rich Are Flocking to the Lion City! 

🔹 1,650 Single Family Offices: Singapore’s wealth management sector is soaring! By the end of August 2024, the number of family offices skyrocketed from just 400 in 2020 to 1,650, and 2024’s growth is set to surpass 2023!

🔹 $5.41 Trillion in Assets: Singapore’s financial sector hit $5.41 trillion in assets under management by the end of 2023, a 10% jump driven by both traditional and alternative investments. 

🔹 Why the Rich Choose Singapore: Strong rule of law, a predictable regulatory system, top-notch wealth management services, family-friendly environment, and world-class education and healthcare make Singapore irresistible to the ultra-wealthy! 

🔹 Streamlined Tax Incentives: MAS has simplified the tax application process, making it faster and easier for family offices to settle in Singapore. 

🔹 Expanding Wealth Ecosystem: Major banks like UOB, Citi, HSBC, and Nomura are boosting their teams to meet growing demand from family offices. 

🔹 Impact on Society: Family offices aren’t just about wealth—they’re creating jobs, driving sustainable investment, and supporting philanthropy in Singapore. 

Singapore is the place to be for the world’s super rich. With more opportunities in sustainable finance, private equity, and philanthropy, the Lion City is leading the way in wealth management! 

 

 

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We are a Singapore-based global asset management consulting firm with 20 years of industry experience. Our family office project team members have an average of 15-20 years of hands-on expertise, helping world-renowned multinationals and ultra-high-net-worth individuals achieve their goals in Singapore—whether it’s corporate setup, capital relocation, or residency planning. Let us help you succeed in Singapore!

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