（Singapore, 02.07.2026）A growing number of Taiwan’s wealthy families are moving part of their fortunes to Singapore, as concerns over geopolitical uncertainty and cross-strait tensions reshape how they manage and protect their assets.
Financial advisers, private bankers and business owners say Singapore has increasingly replaced Hong Kong as the preferred offshore wealth hub for affluent Taiwanese, thanks to its political stability, well-developed financial sector and attractive tax environment.
The trend comes as relations between Beijing and Taipei remain strained, prompting many high-net-worth individuals to diversify not only their investment portfolios but also where they hold their wealth and establish their family businesses.
Among them is Taiwanese businessman Sunny Huang, who told Bloomberg that he recently chose Singapore as the base for his family’s textile business after considering other locations, including Hong Kong and Dubai.
Singapore has since approved his application to establish a family office, while he and his brother have also secured employment passes.
Huang said the move was not driven by a desire to leave Taiwan, but to ensure his family has a financial safety net if geopolitical conditions worsen.
“It means having a place for the plane to land in an emergency,” Huang said. “If something unexpected happens, at least our assets are protected instead of having to start over with nothing.”
He added that although he is proud to be Taiwanese, preparing for uncertainty has become increasingly important.
Singapore overtakes Hong Kong
For decades, Hong Kong served as the main offshore financial centre for Taiwanese investors seeking international diversification.
However, that pattern has changed significantly in recent years.
According to a joint report by Taiwan’s E.Sun Bank and KPMG Taiwan, Singapore has overtaken Hong Kong as the largest destination for Taiwanese offshore wealth over the past three years.
Taiwanese financial assets held in Singapore have reached approximately NT$10.4 trillion (S$420 billion), surpassing the NT$9.6 trillion invested in Hong Kong, excluding property holdings.
Business experts say the shift has accelerated since around 2016, when rising geopolitical concerns encouraged wealthy Taiwanese families to reduce their exposure to Hong Kong.
Allen Tsai, founder of the Taiwan Institute of Directors, told Bloomberg that more than 80% of Taiwanese offshore assets were once concentrated in Hong Kong.
Today, he estimates that roughly 60% to 70% are now managed in Singapore instead.
Professor Hsi-Mei Chung from Taiwan’s I-Shou University said Singapore’s political neutrality, financial stability and easier residency pathways have strengthened its appeal, while Hong Kong’s attractiveness has declined amid changing political conditions.
AI boom creates larger fortunes
The movement of wealth comes as Taiwan experiences one of the fastest expansions in private wealth across Asia, largely driven by the global artificial intelligence boom.
According to UBS, Taiwan is now home to nearly 772,000 millionaires, exceeding Hong Kong’s estimated 628,000.
As fortunes grow, many wealthy families are focusing more on long-term wealth preservation, succession planning and international diversification.
Family offices have become an increasingly popular structure, allowing affluent families to manage investments, tax planning and inheritance under one organization.
Several Taiwanese companies have also begun relocating regional operations to Singapore.
Leo International Group, which operates businesses in asset management, healthcare and education, recently announced plans to move its global headquarters to Singapore while establishing a family office there as part of its long-term strategy.
Another Taiwanese entrepreneur, identified only as Danny due to the sensitive political nature of the issue, said he plans to relocate his family to Singapore after already opening an office there several years ago.
He said the city-state offers a more predictable environment for raising his children over the coming decades.
Banking industry follows the money
The relocation of Taiwanese wealth has also created new business opportunities for banks operating in Singapore.
Major Singapore banks have expanded services targeting Taiwanese high-net-worth clients, while Taiwanese lenders have strengthened their local presence to support customers moving assets overseas.
CTBC Bank, which established its private banking booking centre in Singapore in 2012, said assets under management there have grown to around US$9 billion (S$11.64 billion), nearly doubling from less than US$4 billion in 2020.
The bank has also expanded the number of relationship managers serving Taiwanese clients from five to about 20 during the same period.
Other Taiwanese banks are also increasing investments in Singapore.
Taipei Fubon Bank plans to enlarge its wealth management team in the city-state by the end of this year, while Taishin International Bank said assets managed by its Singapore branch have climbed from about NT$2 billion in 2014 to NT$42.7 billion (S$1.73 billion).
Sources familiar with the matter also said some state-backed Taiwanese lenders are studying whether to expand into Singapore’s private banking sector, attracted by the country’s financial ecosystem and tax advantages.
Recruitment firms are seeing similar demand.
Pierre Pineau, Asia market head at family office advisory firm Agreus Group, said he has helped several wealthy Taiwanese families establish family offices in Singapore over the past two years.
For many of these families, the decision is less about abandoning Taiwan than preparing for uncertainty.
As Huang put it, Taiwanese people have learned not to take peace for granted.
“We prepare for crisis during peaceful times,” he said. “That gives us confidence to face whatever the future may bring.”
