Singapore has established itself as one of the leading private banking and wealth management centres globally and in Asia.

High net worth individuals choose Singapore for our sound financial regulation, strong rule of law, as well as political and economic stability. The breadth and depth of institutions here also give them ready access to global and regional financial markets while providing a full suite of wealth management services to meet their every need.

In addition, Singapore has built up a strong eco-system of capabilities to support the growth of private banking. These include:

• Skills and expertise in asset management, wealth and succession planning, foreign exchange and derivatives trading.
• A diverse pool of local and international wealth management talent, supported by world class training institutions.
• Developed capital markets as well as a vibrant private equity and venture capital eco-system.
• Comprehensive suite of wealth management players including trust companies, philanthropy organisations, family offices and ancillary service providers such as tax, legal advisors, consultants and technology platform providers.

On the back of rising growth of Asian wealth, an increasing number of families are consolidating their wealth in Singapore through formal structures, such as family offices.

On the definition and licensing of family offices in Singapore, refer to this extract from the FAQs on the Licensing and Registration of Fund Management Companies (687.8 KB):

For more details, read the FAQs (687.8 KB).

Banks in Singapore are regulated under the Banking Act . Find out more about the regulatory regime and licenses for the banking industry in Singapore.

See the full list of banks in the Financial Institution Directory.