Singapore Family Offices Market Size to Reach USD 128.69 Million by 2033, Growing at a CAGR of 4.16%

As indicated in the latest market research report published by IMARC Group, titled "Singapore Family Offices Market Report by Type (Single Family Office, Multi-Family Office, Virtual Family Office), Office Type (Founder's Office, Multi-Generational Office, Investment Office, Trustee Office, Compliance Office, Philanthropy Office, Shareholder's Office, and Others), Asset Class (Bonds, Equalities, Alternatives Investments, Commodities, and Cash or Cash Equivalents), Service Type (Financial Planning, Strategy, Governance, Advisory, and Others), and Region 2025-2033," this report provides an in-depth analysis of the industry, featuring insights into the market. It encompasses competitor and regional analyses, as well as recent advancements in the market.

Market Size & Future Growth Potential:

The Singapore family offices market size reached USD 89.17 Million in 2024 and expects the market to reach USD 128.69 Million by 2033, exhibiting a growth rate (CAGR) of 4.16% during 2025-2033.

Latest Market Trends:

The market is greeted with great enthusiasm from Singapore's strengthened position as Asia's leading wealth management hub. The rapid growth of ultra-high-net-worth families looking for sophisticated wealth preservation and succession planning solutions is profoundly changing the market. By the end of 2024, the count of single-family offices in Singapore had more than doubled to over 2,000, indicating a remarkable rise of over 40% year-on-year. This tremendous development manifests the city-state's lenient regulatory environment and sound financial infrastructure that are appealing to the world's wealthy individuals.

The change in the direction of a more professional approach in family offices is also a major development, and a considerable percentage of single family offices in Asia-Pacific is leading their businesses by employing more professionals and non-family staff to improve operations. It is noted that this shift results from the growing intricacy of diversified portfolios management over various asset classes and locations. Moreover, the acceptance of wealth management that is integrated with different functions is quickening, family offices that so desire can now easily implement the procedures of investment tracking, estate planning, tax advisory, and philanthropy by one cohesive framework.

Technology has been a major factor in this case, with nearly 49 percent of family offices taking the initiative to digitize their operations through newly created or already adopted strategies, even as quite a few of them continue to use traditional tools. Besides, the PESTLE factors (such as growing attention to sustainable and impact investing) have re-shaped the sector-wide investment recommendations made by the wealth owners, especially the millennials. Family Offices are increasingly aligning their assets portfolios with the ESG principles. Family Offices are committing more and more of their resources to investments fit for the sustainable development needs of the globe, actually manifesting a wider pledge of creating stable social and environmental impacts alongside high returns.

The sustainability-focused mindset of the government, coupled with tax exemptions and easy approval processes, is relentlessly fueling the momentum of this positive trend, thus making Singapore a progressively attractive spot for the establishment and operations of family offices.

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Market Scope and Growth Factors:

The market is increasing its range significantly as Singapore is gaining ground as the most reliable gateway to Asia's wealth opportunities. The serene and peaceful Asia-Pacific's expected economic big boom is generating in-depth wealth creation. Singapore has a strategic and optimal position to get a large part of the upturn. Within the market scope are those representing the broadest variety of family office configurations—from single-family offices that manage all investments for one family to multi-family offices that serve several clients and new virtual family offices that have made remote activities possible by technology.

Several crucial points are the main reasons for the market's extension on a large scale. To begin with, the government acts proactively regarding the situation. Firstly, among other initiatives, the Monetary Authority of Singapore is involved in the fund tax incentive schemes that are envisaged under sections 13O and 13U of the Income Tax Act. These schemes are players' partners as they offer very attractive tax exemptions to properly family office funds. Just in the first eight months of 2024, MAS handed over 250 family office awards related to tax incentives, which is a clear indication of the program's continued popularity. Moreover, the Philanthropy Tax Incentive Scheme is another important contribution to the country's appeal to philanthropic families. It grants a full deduction from tax on donations that qualify for the scheme given to overseas countries.

The second factor is, on the contrary, infrastructure development which not only supports but is leading the way for the great advancement of the market. Platforms that connect family office to happening investment opportunities in the area, co-investments with more than 300 Private Equity and venture capital fund managers, detailed training programs are remarkable to say the least. Training has become more and more important and people understand it better. Therefore, the Wealth Management Institute has had since 2020 more than five thousand participants registered for the programs related to the Family Office, thus having a well-trained talent pool ready to receive the sector's expansion.

The third reason is that the Asia region has gained more and more significance in the matter of where much of the world's wealth is created. Family offices are thus looking to set up in the region. Singapore is well-positioned to manage Asian investments while still having easy access to the rest of the world. It owes its ranking to its impeccable location, communications of international class, excellent education and healthcare industries, a safe place to live, and rule of law. The decisions of the comprehensive one-stop service offer providers (from investment management, succession planning, philanthropy advisory to impact investing) enable family offices to cope with complex wealth management requirements all within a I, trusted jurisdiction. Moreover, as the trend of affluent families placing their trust in all-encompassing wealth stewardship strategies that integrate financial growth with the production of legacy and social impact continues to gather momentum, the production and mounting of a similar complete ecosystem with Singapore being the leader could not be positioned better to cater for such emerging needs.

Recent News and Developments:

• In January 2025, Singapore's family office sector achieved a historic milestone with over 2,000 single family offices established in the country, marking a 43 percent year-on-year increase from 2023's figure of approximately 1,400 offices. This record growth occurred despite increased regulatory scrutiny following earlier concerns, demonstrating the sector's resilience and Singapore's enduring appeal.

• Around 600 new single family offices were launched in Singapore during 2024, more than doubling the 300 additions recorded in 2023. This acceleration indicates strengthening momentum and reflects enhanced confidence in Singapore's wealth management ecosystem among global ultra-high-net-worth families.

• The Monetary Authority of Singapore announced streamlined processes to reduce waiting times for tax incentive applications, with a new three-month target approval timeframe for well-prepared applicants. This initiative responds directly to industry feedback and aims to enhance Singapore's competitiveness against other global wealth management centers.

• The Wealth Management Institute launched two flagship programs in 2024: the Changemaker Impact Endeavour Fellowship Programme supporting Asia's philanthropists, and the Dalio Investment Principles programme focused on strengthening portfolio management capabilities among family office professionals and principals.

• Singapore introduced ImpactSG in November 2024, a new initiative that has already engaged over 100 individuals and wealth owners to facilitate contributions through specially designed programs, including initiatives supporting neighborhood schools. This reflects the government's commitment to encouraging family offices to contribute meaningfully to local society.

• The Philanthropy Asia Alliance, launched by Temasek Trust in 2023, has amassed over SGD 1 billion in pledges from more than 80 global members and partners, including prestigious foundations. This collaborative platform is catalyzing family office participation in philanthropic activities across the region.

• Research indicates that 42 percent of family offices in Asia-Pacific are now engaged in sustainable investing, with 29 percent of their portfolios dedicated to sustainability—representing a 4 percent increase from previous years and exceeding the global average, highlighting the region's leadership in ESG integration.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/singapore-family-offices-market

Comprehensive Market Report Highlights & Segmentation Analysis:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest Singapore Family Offices Market Share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

Segmentation by Type:

• Single Family Office

• Multi-Family Office

• Virtual Family Office

Segmentation by Office Type:

• Founder's Office

• Multi-Generational Office

• Investment Office

• Trustee Office

• Compliance Office

• Philanthropy Office

• Shareholder's Office

• Others

Segmentation by Asset Class:

• Bonds

• Equalities

• Alternatives Investments

• Commodities

• Cash or Cash Equivalents

Segmentation by Service Type:

• Financial Planning

• Strategy

• Governance

• Advisory

• Others

Segmentation by Region:

• North-East

• Central

• West

• East

• North

Competitor Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Key highlights of the Report:

• Historical Market Performance

• Future Market Projections

• Impact of COVID-19 on Market Dynamics

• Industry Competitive Analysis (Porter's Five Forces)

• Market Dynamics and Growth Drivers

• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)

• Market Ecosystem and Value Creation Framework

• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• This report provides market leaders and new entrants with accurate revenue estimates for the overall market and its key subsegments.

• Stakeholders can leverage this report to gain a deeper understanding of the competitive landscape, enabling them to strategically position their businesses and develop effective go-to-market strategies.

• The report provides stakeholders with valuable insights into the market dynamics, offering a comprehensive analysis of key drivers, restraints, challenges, and opportunities.

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• Extensive Industry Expertise

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• Precise Forecasting Capabilities

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