One of the topics you simply cannot escape today, when speaking to business and community leaders in Singapore, is the recent influx of wealth onto our shores. The city has witnessed a surge in family offices as many of the world’s wealthiest families make Singapore their home. In the first four months of 2022 alone, the Monetary Authority of Singapore approved more than 100 family office applications. This trend corresponds to the country’s projection of an 87 per cent increase in net inbound migration of high‑net‑worth individuals in 2022 as compared to 2019.
Singapore is now the fifth wealthiest city in the world, boasting 26 billionaires. Notable figures such as Google co‑founder Sergey Brin, Indian tycoon Mukesh Ambani and American hedge fund investor Ray Dalio have established family offices in Singapore. The nation’s appeal as a family office destination is no accident. The city‑state’s reputation
