Overview
Singapore is one of the leading wealth management centres globally and in Asia.
#2 International
Wealth Management Centre globally
Deloitte International Wealth Management Centre Rankings 2024
Fastest Growing Cross-Border Wealth Booking Centre
CAGR 24-29
BCG Global Wealth Report 2025
Singapore stands as a premier destination for high-net-worth individuals, built on a foundation of trust. Our strong rule of law provides uncompromising protection for assets and investments. This, combined with our economic stability, offers the security and predictability that investors seek.
As a sound and progressive financial centre, Singapore offers unparalleled opportunities for wealth preservation and growth. The breadth and depth of institutions here also give investors ready access to global and regional financial markets while providing a full suite of wealth management services to meet their needs.
Singapore strives to help high-net-worth individuals achieve their wealth, business, and family interests.
Singapore provides:
A Vibrant Hub for Diverse Business Activities and Investors
- 50% of Southeast Asia’s top family businesses are in Singapore.
- Investors from APAC, North America, Europe and more have chosen Singapore to manage their assets.
Access to Global Investment Opportunities
- 88% of Singapore's Assets Under Management (AUM) are invested outside the country through a wide range of investment intermediaries and opportunities.
- More than 1,300 licensed fund management companies comprising of global and regional managers offering both public and private market investment strategies are based in Singapore.
- More than 400 venture capital firms and 220 incubators and accelerators are in Singapore.
- 88% of Singapore's Assets Under Management (AUM) are invested outside the country through a wide range of investment intermediaries and opportunities.
A Comprehensive Suite of Professional Service Providers
Over 40 global and regional private banks with deep expertise in wealth advisory as well as ancillary service providers such as trust companies, consultants, tax advisors and legal advisors are available in Singapore.
Diverse and Skilled Local and International Wealth Management Talent
Supported by world-class training institutions, Singapore's wealth management talent pool has deep specialist capabilities ensuring a strong talent base.
A Vibrant Philanthropy Ecosystem
Access a powerful network of over 2,000 registered charities, including platforms, communities, think tanks, research institutions, and public and private philanthropic organisations in Singapore. These collaborative partnerships can amplify your giving to drive meaningful change across Asia and beyond.
Private Banking
Singapore’s private banking client assets
grew by a robust 19% in 2024
The potential for wealth management in Asia, one of the fastest growing regions in the world, is significant. In tandem with economic development, private wealth in Asia is growing rapidly, with a burgeoning middle class and an increasing number of ultra-high net worth individuals. At the same time, there is growing clientele from outside Asia looking for investment diversification opportunities in Asia.
Upholding Professional Standards
An industry-led Private Banking Code of Conduct further ensures the competency of private banking professionals and fosters high market conduct standards.
Regulations and Guidance
Banks in Singapore are regulated under the Banking Act.
Investors are protected under the Securities and Futures Act
Investors who meet the Accredited Investor (AI) eligibility criteria may be offered by banks the option to become AIs, which will give them access to a larger suite of products and services but with a different level of regulatory safeguards from retail investors.
Family Offices
In line with the growth of family offices globally, an increasing number of families are setting up family offices in Singapore to professionalise the management of their family’s wealth over the long term.
Singapore is an attractive base to access Asian opportunities. In March 2019, MAS and the Singapore Economic Board (EDB) jointly established the Family Office Development Team (FODT) to enhance Singapore’s competitiveness as a global wealth management and family office hub. The FODT seeks to enhance the operating environment for family offices; deepen capabilities of family office professionals and service providers; and build a stronger community of family offices.
Family offices can be either multi -family offices (MFOs) that manage third party assets of two or more families, or single family offices (SFOs) that manage assets belonging to only one family. MFOs are subject to licensing and regulation under the Securities and Futures Act (SFA) which provides safeguards to protect the interests of the different families served by the MFO.
As SFOs manage the assets of a single family and do not serve third-party customers or manage third-party monies, SFOs are exempt from licensing and business conduct requirements under the SFA, which are aimed at safeguarding the interests of third-party customers. SFOs must file a Notice of Commencement of Business with MAS [here ], maintain accounts with a MAS-licensed bank for the SFO and their fund vehicles in Singapore, and submit annual returns.
Please refer to the Frequently Asked Questions on Licensing Exemption Framework for Single Family Offices [here ] for more information.
For detailed information on setting up SFOs, please refer to the guide [here ].
Should you require further guidance on setting up a single family office and applying for tax incentives, you may wish to approach a professional service provider, such as a legal or tax advisory firm. A non-exhaustive list of service providers is available for reference [here ]. Please note that MAS does not endorse any of the service providers.
Philanthropy
With rising interest amongst high net worth individuals and families to apply their wealth as a force for good, Singapore's financial centre intermediates and shepherds wealth to purposeful causes that meet global and regional needs.
MAS works with the industry to grow Singapore as Asia’s centre for philanthropy through building impact monitoring solutions, philanthropy advisory competencies, and innovative philanthropy models.
To encourage single family offices to use Singapore as a base to conduct philanthropic activities, MAS launched the Philanthropy Tax Incentive Scheme on 1 January 2024.
[1] Overseas Donations: “Overseas Donations refer to cash donations made towards any charitable, benevolent, or philanthropic purpose whose main objective is to benefit persons, events or objects outside of Singapore, where donations are as defined in Paragraph 5.1 of IRAS’ e-Tax Guide – Guidance on Tax Deductible Donations
[2] Related Family Business: “Unlisted corporate entity that is based in Singapore and whose largest shareholder belongs to the same family as the UBO (s) or Beneficiary(ies) of the S13O/U Fund”
Tax Schemes
For Family Offices
Fund Tax Scheme for Family Offices
Find out more about the Fund Tax Schemes for Family Offices, commonly referred to as the Sections 13O and 13U tax schemes.
Philanthropy Tax Scheme for Family Offices
Find out more about the Philanthropy Tax Incentive Scheme for Family Offices (“PTIS”), announced in Budget 2023, which seeks to encourage Single Family Offices managing Funds with Sections 13O or 13U tax schemes to conduct overseas philanthropic activities through Singapore.
For Financial Institutions
What's New
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MAS Introduces Measures to Strengthen Singapore’s Competitiveness as a Leading Asset Management Hub
The measures comprise a tax exemption for profit-related returns from the provision of fund management services to qualifying funds; a new hedge fund investment programme to anchor leading hedge fund managers in Singapore; and a new Investment Management Track under the Overseas Networks & Expertise (ONE) Pass framework to attract top global leaders and senior investment professionals in asset management.
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Opening Speech by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, at the 9th Asia-Pacific Precious Metals Conference on 15 June 2026
At the 9th Asia-Pacific Precious Metals Conference, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS announced areas of progress on four key building blocks – reliable clearing and settlement systems, secure vaulting, relevant products, and clear standards.
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Opening Remarks by Mr Chia Der Jiun, Managing Director, Monetary Authority of Singapore at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026
At the UBS Investment Conference, Singapore Wealth Edition, Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, share his perspectives on navigating the latest macro-economic outlook amid an evolving geopolitical landscape.
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Singapore Sets out Key Focus Areas to Develop Singapore as a Gold Trading Centre
MAS and the Singapore Bullion Market Association (SBMA) set out key focus areas to strengthen Singapore’s position as a trusted gold trading centre serving the Asia-Pacific region. This will meet the growing interest among investors to vault and trade gold in Singapore. The key focus areas were developed by a Gold Market Development Working Group that MAS and SBMA established in January 2026, building on detailed discussions and studies with industry participants in 2025.
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Opening Remarks by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the WMI Global-Asia Family Office Summit on 29 September 2025
At the WMI Global-Asia Family Office Summit, Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, spoke about how Singapore is charting the course across three areas - our strategic approach; our comprehensive support for wealth owners’ wealth, business and family priorities; and our deliberate investments in talent and capabilities.