Singapore has become Asia’s Switzerland, attracting family offices and wealthy individuals across the region.



Over the past two decades, Singapore has positioned itself as a global wealth management hub. The country’s political stability, robust legal system, and favorable tax policies have made it the preferred location for high-net-worth individuals (HNWIs) from China, Indonesia, India, and the Middle East.

The Monetary Authority of Singapore (MAS) enforces strict regulations, ensuring transparency and compliance while protecting client confidentiality. This balance of trust and oversight distinguishes Singapore from many competing financial centers.

In recent years, the rapid rise of family offices has added momentum. According to MAS data, the number of licensed family offices grew by more than 25% in 2024 alone. These structures allow wealthy families to manage investments, philanthropy, and succession planning under one roof.

Singapore’s double-tax treaties with more than 80 jurisdictions further enhance its attractiveness. Combined with strong talent in wealth advisory, the city-state continues to outperform Hong Kong and other regional competitors.

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Sophia Tan

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Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.