Offshore Trust Rules Cloud Singapore’s Appeal to Wealthy Families

Tighter offshore trust rules in China are creating uncertainty over Singapore’s appeal to wealthy Chinese families, as Beijing increases scrutiny of offshore trusts and overseas investments following the city-state’s own anti-money-laundering crackdown.

Wealth advisers said enquiries from Chinese clients seeking to establish trusts and family offices had slowed, with some plans paused while investors assessed the tax changes.

Singapore had more than 2,000 single-family offices at the end of 2025, while Hong Kong had 3,384, according to Deloitte.

Singapore officials described the impact as manageable, pointing to the city-state’s regulatory standards and established wealth management ecosystem.

Banks have also sought to shorten account-opening times, while Hong Kong is positioning itself as a stronger regional wealth hub.