What makes Singapore attractive for family offices in Asia

The city-state logged a tenfold increase in its SFO by end-2024.

Singapore is considered to be one of the natural choices for family office locations, thanks to its robust legal system and gateway to Asia-Pacific markets.

According to Julius Baer’s Family Barometer Report 2025, Singapore, along with Hong Kong, has “emerged as the region’s most dynamic hubs for those looking to simplify complexity and build enduring legacies.”

The city-state specifically saw a surge in interest, with over 2,000 single family offices established by the end of 2024, a tenfold increase in just a few years.

“We’re seeing families move beyond simply managing wealth – they’re looking for institutional-style platforms that can support them across borders, across generations,” said Christos Anagnostopoulos, head of Family Office Solutions/Advisory Asia at Julius Baer. “Singapore and Hong Kong offer that mix of infrastructure, talent, and regional relevance.”

This growth is being supported by incentive schemes from regulators such as the Monetary Authority of Singapore. Initially aimed at fund managers, many of these initiatives now attract ultra-high-net-worth families seeking to formalise their structures.

Singapore has also positioned itself as a natural hub for Asian families and those looking for a gateway to Asia, offering political stability, strong legal frameworks, and a clear regulatory environment. It serves clients from across Asia and the Indian subcontinent with access to world-class infrastructure and residency programmes.

The economy has also established itself as a hub for wealthy families seeking to consolidate, professionalise, and future-proof their wealth.

Together with Hong Kong, the city-state offers “unique strengths and reflects Asia’s rising influence in global wealth planning, part of a wider global trend where different regions of the world – including, amongst others, Dubai and Abu Dhabi in the Middle East – are advancing distinct family office services in response to growing intergenerational wealth and evolving family needs.”