Over half of Singapore’s ultra-rich consider moving abroad

3 in 5 also plan to send their children abroad for education.

In Singapore, more than half of High-Net-Worth Individuals (HNWIs) are considering moving abroad, particularly those with very high net worth (VHNW) and those under 45, according to a report by Agility Research & Strategy.

The report found that their primary motivations include a desire for new cultural experiences, lifestyle changes, and professional growth.

When it comes to education, 40% of HNWIs send their children to local universities, while 60% plan to send them abroad, with the UK as the preferred destination.

In terms of wealth management, 28% of HNWIs in Singapore have already established legal trusts, primarily for wealth transfer after their passing. A significant wealth transfer is expected over the next 10 years, with one in three HNWIs set to inherit substantial assets.

The report also revealed that Singaporean inheritors intend to expand their business ventures and further grow their wealth.

In addition, when it comes to social responsibility, Singaporean HNWIs prioritise quality healthcare for the underprivileged and improved education opportunities.