China's wealthy families see 'push-pull' factors to diversify to Singapore

Singapore is seeing an influx of ultra-wealthy families from China looking to protect their wealth, as they seek safe harbour from geopolitical uncertainties and implement strategic asset diversification. Single-family offices in Singapore managing have climbed to 1,100 in 2022, up from 700 in 2021 according to the Monetary Authority of Singapore (MAS). This figure likely undercounts the true number of family offices in Singapore, given the rapidly growing multi-family office spac…