Some 19% of Indian entrepreneurs and 15% of Taiwanese entrepreneurs interviewed are considering moving all their personal wealth to Singapore.

The wealthiest investors in the world are expanding their global exposure as they seek residence and opportunities for their assets and businesses.

HSBC’s Global Wealth Hubs 2025: Drivers of Diversification 2025 report displays how the richest investors are taking a more global stance. Out of 23 countries, Singapore emerged first among high-net-worth (HNW) entrepreneurs who are thinking of relocating.

This is attributed to Singapore’s “favourable” wealth management policies and the nation cultivating an abundance of human capital, says HSBC on Feb 28. 

Hong Kong and mainland China are tied for second among the 23 markets cited globally by Ultra-high-net-worth (UHNW) individuals and for those over age 45.

The report shows that the trend of moving wealth into the island-state is strongest among Indian and Taiwanese entrepreneurs. 

Some 19% of Indian entrepreneurs and 15% of Taiwanese entrepreneurs interviewed are considering moving all their personal wealth to Singapore. HSBC also notes that the Singapore-Indian wealth corridor was the third-largest among those they tracked, behind Hong Kong-China and China-Hong Kong wealth corridors.

In addition to Indian entrepreneurs, the sentiment was also strong among entrepreneurs from Hong Kong and mainland China, with 24% and 20% of entrepreneurs interviewed having second residencies in Singapore. 

In contrast, HSBC found that Singaporean entrepreneurs are more likely to stay grounded thanks to the vast amount of opportunities available to them, which is similar to the US. 

The report also notes that Singapore is on its way to becoming a major philanthropy hub. 

“Singapore has been hugely successful as a wealth management hub and is now building on those foundations to become a philanthropy hub for family offices based here,” says Mary Chan, head of wealth of HSBC Global Private Banking. “This will not only benefit Singaporean citizens but also those in many other countries across Southeast Asia too.”

The combination of favourable residency, tax rules and great ease of doing business has proven appealing to entrepreneurs looking to set up single-family offices (SFOs). The number of SFOs in Singapore has grown from 400 in 2020 to 1,650 as of September 2024. 

Singapore also aims to capitalise on the presence of SFOs by requiring them to invest into local and climate-related investments as well as working with government bodies to manage their philanthropic efforts, notes HSBC.