Statistics have shown that Singapore’s asset management industry has staged a better than expected recovery, with more than S$4 trillion AUM. Those numbers are expected to be better as Singapore continues to gain traction as an attractive place to set up a family office. The number of SFOs, in particular has grown. There is money to be disbursed into regional startups, and an added impetus in areas such electric vehicles and manufacturing.
In an uncertain post-pandemic world, with the US and China still engaged
in a trade dispute, Singapore is the natural place to park funds, ready to be
deployed either side of this fence. The
tax regime in Singapore, with no capital gains and inheritance tax, also encourages
it.
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