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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Sophia Tan

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Marks Toms – Editor-in-Chief
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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.