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Singapore’s financial and legal frameworks attract wealthy families in Asia: report

Whilst preserving wealth remains the top priority for affluent families in the region.

Singapore's strategic location, economic stability, and well-regulated tax system make it an attractive base for wealthy families in Asia, according to Swiss bank Julius Baer.

The Julius Baer's Family Barometer Report 2024 particularly cited Singapore's well-regulated financial sector, legal certainty, and the growing number of family office structures as key factors contributing to its appeal for managing complex wealth needs.

The report also noted preserving wealth is the top priority for wealthy families in Asia this year, underscoring their strong focus on ensuring a smooth transition of leadership and assets to the next generation.

Meanwhile, political stability has become a top concern for wealthy families, reflecting fears over nationalism, polarisation, and economic shifts in Asia, the Middle East, and Latin America.
 

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