The number of single family offices in Singapore has reached 2,000, according to Chee Hong Tat, deputy chairman of the Monetary Authority of Singapore (MAS).

This figure represents an increase from 1,650 family offices reported in September 2023.

The growth is linked to favorable policies for establishing family offices and trusts, coupled with low taxes.

Singapore’s strategic location serves as a gateway to Southeast Asian markets.

Single family offices are firms focused on managing the wealth of high-net-worth individuals or families.