Family Office Relocation Considered by More Than Half of Wealthy Families

Family office relocation is being considered by more than half of wealthy families surveyed as geopolitical risk, cybersecurity concerns and access to specialist talent drive demand for multi-jurisdiction structures.

Standard Chartered's The Great Repositioning report found that more than 54% of respondents were weighing a move.

Foo Tian Ong, Southeast Asia regional head at Standard Chartered Global Private Bank, said Singapore remains attractive because of regulatory and tax certainty, a sophisticated financial ecosystem, professional expertise and regional connectivity.

He said recent reforms simplifying notification requirements and easing some tax-incentive conditions could improve efficiency without weakening regulatory oversight.

Singapore could further streamline administrative procedures and client onboarding, Foo added, while continuing to invest in professionals capable of advising wealthy families on governance, succession, philanthropy and increasingly complex cross-border requirements.