Singapore sees jump in family offices as Asia's ultra-rich set up camp
221 single and multi-family offices opened in the Republic last year, up from 129 in 2019 and 22 in 2018; scene dominated by those from North Asia
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MORE affluent families have flocked to Singapore as a base to park their wealth in the midst of a worldwide pandemic last year, with the Republic's safe haven reputation a firm draw especially for the well-heeled hailing from North Asia.
Details have been scant on just how many there are in Singapore. But now, data analysis firm Handshakes estimates that 221 single and multi-family offices opened in Singapore last year.
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