In recent years the conversation around global wealth structuring has centred on mobility, with wealthy individuals, families and entrepreneurs considering options for where to live, invest and plan with certainty in an increasingly unpredictable world.
Singapore continues to consolidate its position as one of the world’s leading private-wealth hubs, with sustained growth in the number of high-net-worth individuals and families choosing it as a base for regional and global structuring. In particular, the rapid expansion of the family office ecosystem has been a defining feature of this trend. By the end of 2024 the number of single family offices in Singapore reportedly exceeded 2,000, reflecting strong year-on-year growth and reinforcing Singapore's status as a preferred destination for wealth preservation and governance structures.
Who is relocating to Singapore?
While Singapore has long attracted wealth from Southeast Asia, recent years have seen a broader mix of nationalities establishing a presence. Clients relocating to Singapore commonly include entrepreneurs and family groups from China, India, and the wider Asia-Pacific region, as well as European and Middle Eastern families seeking a stable base for Asian investment activity. Singapore’s political stability, sophisticated financial services sector, and strong rule of law are frequently cited as key drivers but lifestyle factors such as its safety, diversity and availability of good schools are also key factors. Additionally, global uncertainty and intergenerational wealth planning have prompted many families to rethink where they anchor their structures, with Singapore viewed as a neutral and forward-looking jurisdiction.
The role of the family office framework
The regulatory and tax framework supporting family offices has been instrumental in Singapore’s success. Incentive regimes and streamlined approval processes, combined with robust compliance expectations, aim to balance accessibility with reputational integrity. The Singapore family office has evolved from solely an investment vehicle; increasingly families use it as a governance platform encompassing succession planning, philanthropy and family decision-making. This shift has been encouraged by the changes in the Singapore family office framework, which prioritises quality over quantity of family offices, and also reflects a broader shift among ultra-high-net-worth families from wealth accumulation to long-term stewardship and legacy planning.
What we see from relocating clients
Relocation to Singapore (or indeed, anywhere else) is rarely driven by tax considerations alone. Clients typically seek a combination of legal certainty, access to Asian markets and a high-quality living environment for their families. Structurally, we see demand for integrated solutions involving investment vehicles, trusts and immigration planning. Increasingly, families also require guidance on governance frameworks, including family charters, dispute-resolution mechanisms and protocols for intergenerational transition.
Delivering holistic cross-border advice
These trends underline the importance of co-ordinated, cross-border advisory services. Effective structuring for globally mobile families requires a multidisciplinary approach that integrates tax, regulatory, immigration and private client expertise across jurisdictions. Our role, therefore, encompasses not only legal expertise but strategic advice, helping families align their structures with long-term personal and commercial objectives.
How Mishcon de Reya can help
The continued growth of Singapore as a private‑wealth centre presents significant opportunities for globally mobile families, but structuring, relocation and governance decisions require careful planning across multiple jurisdictions. Our Private Wealth and Tax, Singapore and Immigration teams work closely with various other practices across the firm, on family office establishment and investment structuring, to governance frameworks, relocation planning and more. If you would like to discuss how these trends may affect your family or clients, please do get in touch.