In a recent article for Wealth and Society, our Founder and CEO Stephen Davies shares his perspective on how Singapore is strengthening its position as Asia’s leading family office hub, and the operational realities that come with this rapid expansion.
Steve outlines how Singapore’s rise has been driven by forward-looking policymaking, regulatory clarity, and specialist expertise across banking, tax, legal and fiduciary services. The impact is clear: the number of single family offices receiving tax incentives has grown from around 400 in 2020 to over 2,000 by end-2024.
In the article, Steve highlights three major themes shaping the next phase of growth:
• Balancing opportunity with rising regulatory complexity:
Enhanced scrutiny around source of wealth, compliance obligations and operational protocols is now a core part of Singapore’s framework. Families must stay dynamic, well-governed and proactive to keep pace.
• The next generation’s influence:
Successors are reshaping priorities through a stronger focus on purpose, ESG, impact investing, philanthropy, governance structures and meaningful involvement in the family enterprise.
• The essential role of independent wealth managers:
With increasing complexity in investments, compliance and family governance, independent advisors play a critical role in providing impartial oversight, structuring long-term strategies and supporting cross-border requirements.
As Steve notes, Singapore’s family office sector will continue to expand, but its future success will rely on evolving capabilities, strong governance and clarity of purpose across generations.
🔗 Read the full op-ed here: https://www.wealthandsociety.com/updates-and-articles/family-office-acceleration-singapores-bid-to-remain-wealth-hub-of-asia
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