Family offices have become a defining feature of Singapore’s wealth landscape, reshaping the private banking industry.
A family office is a dedicated entity that manages the financial and personal affairs of a wealthy family. Singapore’s supportive tax regime, government grants, and strong regulatory environment have fueled exponential growth. MAS data indicates over 1,500 family offices were operating in Singapore by 2025, compared to fewer than 100 a decade earlier.
Family offices provide services such as investment management, estate structuring, tax optimization, and philanthropic advisory. Many ultra-high-net-worth individuals (UHNWIs) now prefer this model over traditional private banking, citing greater control and confidentiality.
Private banks, in turn, have adapted by offering hybrid services—providing custody, trading platforms, and co-investment opportunities tailored for family offices. This ecosystem strengthens Singapore’s role as Asia’s premier wealth hub.
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