Trends, drivers and strategic implications of the Singapore–UAE Family Office corridor
The global family office landscape is undergoing a period of geographic diversification. As wealth expands across regions and families seek more tailored and efficient wealth management structures, certain jurisdictions have emerged as hubs for ultra‑high net worth families. Among these, Singapore is widely regarded as one of the leading global family office hubs. At the same time, the United Arab Emirates (UAE) has seen increasing interest from families who are relocating capital and operations, creating a distinct business corridor between Singapore and the Gulf.
Singapore as a leading family office jurisdiction
Singapore’s ascent as a family office hub is well documented. It hosts one of the largest concentrations of single‑family offices globally, driven by a combination of policy clarity, regulatory stability and strategic positioning in Asia. By the end of 2024, Singapore had exceeded 2,000 single‑family offices (SFOs), a number that grew by approximately 43 per cent year‑on‑year from 2023, according to official data from the Monetary Authority of Singapore (MAS) and local reporting.
This growth reflects a broader trend - from fewer than 400 SFOs awarded tax incentives by MAS in 2020, Singapore saw a five‑fold increase in such offices by the end of 2024. A widely cited ranking of global family office cities places Singapore at the top, with an estimated 2,720 family offices, significantly ahead of other major centres.
Several factors underpin Singapore’s appeal
Singapore offers a range of policy and tax incentives, such as the Monetary Authority of Singapore’s (MAS) 13O and 13U family office incentives, which are specifically designed to provide predictable tax treatment for family offices and their qualifying income. These measures are periodically revised to ensure that Singapore remains competitive, with an increasing emphasis on substance, governance, and economic contribution, while still adhering to rigorous regulatory standards. The country’s regulatory environment is widely regarded as robust and predictable, which is highly valued by ultra-high-net-worth (UHNW) families seeking long-term wealth preservation.
Furthermore, Singapore’s strategic connectivity as a gateway to the broader Asia-Pacific region enhances its appeal. The country’s proximity to fast-growing markets in South and Southeast Asia, coupled with its linguistic and commercial accessibility, makes it an ideal base for Western families looking to establish a presence in Asia. These structural advantages have attracted a diverse range of families with varying investment profiles and intergenerational planning needs, solidifying Singapore’s position as a global hub for family wealth management.
The UAE’s rising profile and cross‑jurisdictional flows
Parallel to Singapore’s established position, the UAE - particularly Dubai and Abu Dhabi - has emerged as a significant destination for wealthy families and their family offices. Dubai and Abu Dhabi have developed dedicated financial free zones with frameworks that are tailored to wealth management and legacy planning.
Recent wealth migration data indicate that the UAE ranked first in global millionaire net migration in 2025, with approximately 9,800 millionaires relocating to the country. While this figure captures broader high‑net‑worth migration rather than family office counts specifically, it signals a substantial inflow of wealth into the UAE.
The UAE’s appeals complement those of Singapore
The UAE's fiscal environment is one of its key attractions for ultra-high-net-worth (UHNW) individuals and families. The country's zero personal income tax regime and the absence of capital gains tax make it an appealing option for those seeking to preserve wealth across generations. This sits alongside a now well established corporate tax and broader substance framework, which has brought greater clarity and international alignment while remaining highly competitive for private wealth structures.
Additionally, the UAE offers long-term residency schemes, such as extended “golden visas,” which provide lifestyle and mobility benefits that are highly valued by families when deciding where to domicile their assets and operations. Over the past decade, the UAE has also made significant investments in developing its financial and professional services infrastructure, which now supports alternative investment activities, private markets, and cross-border capital flows. These developments have contributed to a rise in enquiries from families interested in establishing family offices or related structures in the UAE, including those already operating in Asia.
In practice, families increasingly differentiate between the functional roles played by each jurisdiction. Singapore is typically used as an investment management and Asia-Pacific operating hub, supported by deep institutional capability across private banking, asset management, and professional services. The UAE, by contrast, is positioned primarily as a holding, governance, and residency jurisdiction, particularly for succession planning, asset consolidation, and long-term family structuring.
Cross‑border strategies and implications
The evolving dynamics between Singapore and the UAE suggest a pragmatic, multi‑jurisdictional approach among global families rather than zero‑sum competition. Families with interests in Asia and the Middle East increasingly evaluate both jurisdictions based on their specific strategic needs - such as access to markets, risk diversification, tax efficiency and lifestyle considerations.
For some families, Singapore remains the base for managing Asia‑Pacific exposures, offering access to deep talent pools in finance, legal services and private banking. For others, the UAE presents an attractive complement or alternative, particularly where residency and fiscal considerations are prioritised. As these patterns evolve, there is a growing demand for advisory and operational support that can navigate the regulatory, tax and legal nuances of both jurisdictions.
For providers and advisors serving this corridor, the focus is on enabling seamless cross‑border wealth structures, tailored governance frameworks, and compliant tax planning strategies that align with each family’s priorities, including coordination of tax residency, management and control, substance, and succession planning across jurisdictions. This includes understanding regulatory requirements, establishing appropriate corporate, trust and foundation structures, and facilitating ongoing compliance across multiple jurisdictions.
Conclusion
The Singapore–UAE corridor reflects broader shifts in the global family office landscape: wealth is increasingly mobile, and families are weighing multiple factors - including tax, regulation, market access and lifestyle - when choosing where to base their wealth management operations. Singapore’s well‑established ecosystem continues to attract a significant share of global family offices, while the UAE’s growing appeal underscores the importance of flexible, multi‑jurisdictional strategies. For families and advisers alike, appreciating the distinct strengths of each jurisdiction, how they interact, and how to implement structures effectively across both will be critical to operating effectively across this emerging corridor.
