Over the next five years, Singapore is set to strengthen its position as the fastest-growing centre for private wealth globally. New research from Bloomberg Intelligence (BI) projects that cross-border assets managed through the city-state will expand by around 12 percent annually, outpacing every other major wealth hub.
This growth is not an accident of regional fortune but the result of a deliberate institutional strategy – one that combines market depth, regulatory stability, and structural reform led by the Monetary Authority of Singapore (MAS).
This growth is not an accident of regional fortune but the result of a deliberate institutional strategy – one that combines market depth, regulatory stability, and structural reform led by the Monetary Authority of Singapore (MAS).
1. A Structural Shift in Where Wealth Is Managed
The foundation of Singapore’s momentum lies in a structural shift in the geography of global wealth. Asia is now the world’s most dynamic source of new high-net-worth and ultra-high-net-worth individuals. BI’s Asia Private-Wealth Survey 2025 shows that 85 percent of senior private-banking executives across the region expect assets under management (AUM) and net new money to grow by at least 6 percent a year through 2030, with one in four anticipating double-digit expansion.
Within that trend, Singapore stands apart because it is not merely collecting assets but institutionalising wealth. Private clients and family groups — particularly from Mainland China, India, Indonesia, and Vietnam — are moving beyond traditional offshore booking models to seek jurisdictions that combine safety with operational capability.
Singapore offers both: a predictable rule-of-law environment and a full ecosystem of licensed fund managers, trustees, legal, and technology providers. This explains BI’s emphasis that Singapore “retains a unique edge with deep Southeast-Asia connectivity” — a position that links local wealth creation with global markets more seamlessly than any competing hub.
Within that trend, Singapore stands apart because it is not merely collecting assets but institutionalising wealth. Private clients and family groups — particularly from Mainland China, India, Indonesia, and Vietnam — are moving beyond traditional offshore booking models to seek jurisdictions that combine safety with operational capability.
Singapore offers both: a predictable rule-of-law environment and a full ecosystem of licensed fund managers, trustees, legal, and technology providers. This explains BI’s emphasis that Singapore “retains a unique edge with deep Southeast-Asia connectivity” — a position that links local wealth creation with global markets more seamlessly than any competing hub.
2. New Sources of Capital and a Broader Investment Appetite
The composition of wealth inflows is changing as fast as their scale. According to BI, Mainland China is expected to contribute 30 percent of new private-banking clients in the region over the next three to five years, up from 26 percent today. At the same time, new family-office capital from the Middle East is accelerating as investors diversify away from Western centres toward neutral and well-regulated jurisdictions.
This diversification is accompanied by a shift in how portfolios are constructed.
Roughly half of private-banking respondents said their clients have become more risk-seeking in the past 12 months. Allocations are moving from cash and bonds toward equities, private equity, hedge funds, and digital assets — asset classes that depend on sophisticated custody, compliance, and reporting infrastructure. Singapore’s regulatory clarity in alternative investments and its concentration of fund managers make it uniquely positioned to accommodate that transition.
This diversification is accompanied by a shift in how portfolios are constructed.
Roughly half of private-banking respondents said their clients have become more risk-seeking in the past 12 months. Allocations are moving from cash and bonds toward equities, private equity, hedge funds, and digital assets — asset classes that depend on sophisticated custody, compliance, and reporting infrastructure. Singapore’s regulatory clarity in alternative investments and its concentration of fund managers make it uniquely positioned to accommodate that transition.
3. Technology as the Hidden Driver
The next phase of Singapore’s private-wealth expansion will be driven as much by technology as by capital inflows. BI notes that 72 percent of wealth-management leaders rank technology among the top three drivers of new money over the coming five years.
Meanwhile, 57 percent see artificial intelligence as the most important tool for improving client-data insights, risk analytics, and portfolio modelling.
Singapore has already placed technology at the centre of its financial strategy. From digital onboarding and e-KYC processes to AI-based compliance systems, the city-state has built a digital infrastructure that reduces friction while maintaining high regulatory standards. For clients, that means faster account-opening times, integrated reporting, and a more transparent experience — all factors that directly affect where global families choose to manage their wealth.
In practice, this digital shift is already reshaping how private capital operates in Singapore.
Private banks such as DBS Private Bank and UOB Private Wealth now integrate AI-assisted portfolio-rebalancing engines that analyse client behaviour and market conditions in real time, automatically flagging concentration risks or liquidity gaps.
Wealth-tech platforms like Endowus and StashAway Reserve provide accredited investors and family offices with multi-custodian dashboards that consolidate global holdings across banks, custodians, and asset classes—something previously possible only through bespoke reporting teams.
At the institutional level, the MAS-backed SGFinDex network connects data from major local and international banks, enabling families to view net-worth positions and tax exposures across entities through secure APIs.
Meanwhile, compliance automation start-ups such as Tookitaki and Silent Eight supply AI-driven transaction-monitoring and sanctions-screening tools that allow both banks and family offices to meet MAS anti-money-laundering standards in near real time.
Meanwhile, 57 percent see artificial intelligence as the most important tool for improving client-data insights, risk analytics, and portfolio modelling.
Singapore has already placed technology at the centre of its financial strategy. From digital onboarding and e-KYC processes to AI-based compliance systems, the city-state has built a digital infrastructure that reduces friction while maintaining high regulatory standards. For clients, that means faster account-opening times, integrated reporting, and a more transparent experience — all factors that directly affect where global families choose to manage their wealth.
In practice, this digital shift is already reshaping how private capital operates in Singapore.
Private banks such as DBS Private Bank and UOB Private Wealth now integrate AI-assisted portfolio-rebalancing engines that analyse client behaviour and market conditions in real time, automatically flagging concentration risks or liquidity gaps.
Wealth-tech platforms like Endowus and StashAway Reserve provide accredited investors and family offices with multi-custodian dashboards that consolidate global holdings across banks, custodians, and asset classes—something previously possible only through bespoke reporting teams.
At the institutional level, the MAS-backed SGFinDex network connects data from major local and international banks, enabling families to view net-worth positions and tax exposures across entities through secure APIs.
Meanwhile, compliance automation start-ups such as Tookitaki and Silent Eight supply AI-driven transaction-monitoring and sanctions-screening tools that allow both banks and family offices to meet MAS anti-money-laundering standards in near real time.
4. MAS Reforms: Simplifying the Family-Office Framework
Regulation is the second major reason Singapore is expected to outpace its competitors.
In parallel with BI’s growth projections, the Monetary Authority of Singapore is overhauling the single-family-office (SFO) tax-incentive framework to make it more efficient and more aligned with industry practice.
The reforms include:
MAS has also set up a private-banking working group with leading institutions to improve account-opening and due-diligence efficiency through automation and AI. These measures address one of the most persistent obstacles for new entrants — administrative friction — while preserving Singapore’s reputation for regulatory rigour.
By the end of 2024, more than 2 000 single-family offices were operating in Singapore — up from roughly 400 in 2020 — according to MAS data. This fivefold increase reflects not only the scale of capital relocating to Singapore but also the government’s success in aligning regulatory clarity with operational efficiency. The cross-border wealth managed in both Hong Kong and Singapore is projected to increase by an average of 12 % annually over the next five years, outpacing the global growth rate of 10 %.
In parallel with BI’s growth projections, the Monetary Authority of Singapore is overhauling the single-family-office (SFO) tax-incentive framework to make it more efficient and more aligned with industry practice.
The reforms include:
- Reducing documentation and processing times for applications;
- Simplifying ongoing reporting requirements; and
- Expanding the range of eligible investments under the tax-incentive scheme.
MAS has also set up a private-banking working group with leading institutions to improve account-opening and due-diligence efficiency through automation and AI. These measures address one of the most persistent obstacles for new entrants — administrative friction — while preserving Singapore’s reputation for regulatory rigour.
By the end of 2024, more than 2 000 single-family offices were operating in Singapore — up from roughly 400 in 2020 — according to MAS data. This fivefold increase reflects not only the scale of capital relocating to Singapore but also the government’s success in aligning regulatory clarity with operational efficiency. The cross-border wealth managed in both Hong Kong and Singapore is projected to increase by an average of 12 % annually over the next five years, outpacing the global growth rate of 10 %.
5. Outlook: Data Behind Singapore’s Lead
Bloomberg Intelligence’s survey gives a clear quantitative picture of why Singapore’s dominance in private wealth is set to endure. Across Asia, 85% of senior private-banking executives expect AUM and net new money to grow by at least 6% annually over the next five years, and nearly one in four foresee double-digit expansion.
Within that regional surge, Singapore and Hong Kong together are projected to capture about 60% of all new cross-border inflows, but Singapore leads decisively: BI estimates that assets managed through the city-state will expand by about 12% a year, versus the global hub average of around 10%.
When executives were asked what drives that confidence, their responses were strikingly consistent:
The data suggest that Singapore’s advantage is no longer built on policy arbitrage, but on structural competence — a financial ecosystem where capital, compliance, and innovation move in sync.
Over the next five years, Bloomberg Intelligence expects Asia’s total private-wealth assets to grow faster than any other region, and Singapore’s share of that pool to rise steadily.
If those projections hold, the city-state will not just remain the fastest-growing wealth hub — it will redefine what such a hub looks like: a place where growth is engineered through data, infrastructure, and regulatory design, not chance.
NB! The information provided in this article is for general informational purposes only and does not constitute legal advice. While we strive to ensure the content is accurate and up-to-date, it should not be relied upon as a substitute for professional consultation. For personalized advice or assistance with legal matters, please contact our specialists directly.
Within that regional surge, Singapore and Hong Kong together are projected to capture about 60% of all new cross-border inflows, but Singapore leads decisively: BI estimates that assets managed through the city-state will expand by about 12% a year, versus the global hub average of around 10%.
When executives were asked what drives that confidence, their responses were strikingly consistent:
- 72% cited technology integration as a top driver of new inflows;
- 66% pointed to regulatory clarity and stability;
- 57% chose talent depth and institutional quality;
- while only 8% mentioned tax incentives.
The data suggest that Singapore’s advantage is no longer built on policy arbitrage, but on structural competence — a financial ecosystem where capital, compliance, and innovation move in sync.
Over the next five years, Bloomberg Intelligence expects Asia’s total private-wealth assets to grow faster than any other region, and Singapore’s share of that pool to rise steadily.
If those projections hold, the city-state will not just remain the fastest-growing wealth hub — it will redefine what such a hub looks like: a place where growth is engineered through data, infrastructure, and regulatory design, not chance.
NB! The information provided in this article is for general informational purposes only and does not constitute legal advice. While we strive to ensure the content is accurate and up-to-date, it should not be relied upon as a substitute for professional consultation. For personalized advice or assistance with legal matters, please contact our specialists directly.
RSBU Group Expertise
We have extensive experience in providing legal and financial support in Singapore for over 13 years. From choosing the right tax scheme (Section 13O, 13U, or 13D) to structuring investments and ensuring compliance with Singapore’s regulations, our team provides end-to-end support. We assist with operational setup, hiring professionals, and developing long-term strategies for wealth preservation and growth. Whether you need help with establishing a Single Family Office (SFO) or scaling a Multi-Family Office (MFO), we offer the expertise and resources to make the process seamless and efficient.
We have extensive experience in providing legal and financial support in Singapore for over 13 years. From choosing the right tax scheme (Section 13O, 13U, or 13D) to structuring investments and ensuring compliance with Singapore’s regulations, our team provides end-to-end support. We assist with operational setup, hiring professionals, and developing long-term strategies for wealth preservation and growth. Whether you need help with establishing a Single Family Office (SFO) or scaling a Multi-Family Office (MFO), we offer the expertise and resources to make the process seamless and efficient.