Many high-net-worth individuals (HNWIs) in Singapore are considering relocating abroad, particularly younger individuals and those with greater assets, according to a report by Agility Research & Strategy.
More than half of Singapore’s HNWIs, especially those under 45 and classified as Very High-Net-Worth (VHNW), are exploring relocation opportunities. Their motivations go beyond financial factors, encompassing cultural experiences, lifestyle changes, and career prospects.
The report also highlights a strong trend toward international education among wealthy Singaporean families. While 40% opt for local universities, the majority—60%—prefer overseas studies, with the UK emerging as the top destination.
Meanwhile, wealth preservation and succession planning remain key priorities. Around 28% of HNWIs have established legal trusts to ensure a smooth transfer of assets. Over the next decade, one in three is expected to inherit a significant amount of wealth.
Notably, many of these heirs plan to leverage their assets to expand businesses and build investment portfolios, reflecting a proactive approach among Singapore’s next generation of affluent individuals in maintaining and growing their wealth.
Shaping Wealth, Changing Lives
Beyond accumulating wealth, Singapore’s high-net-worth individuals (HNWIs) are also committed to social responsibility. Their philanthropic efforts focus on improving access to quality healthcare for underserved communities and expanding educational opportunities for future generations.
As their priorities shift, their increasingly global outlook has the potential to influence investment flows and reshape the dynamics of wealth on an international scale.
What’s Driving the Shift?
The migration trend among Singapore’s HNWIs is driven not only by financial factors such as lower taxes or a more favorable investment climate but also by a combination of lifestyle preferences, global exposure, and long-term wealth preservation strategies.
Many seek to secure a future enriched with diverse experiences for themselves and their families, even as they weigh the potential impact on domestic economic engagement.
Wealth preservation remains a priority, with many establishing legal trusts and selecting jurisdictions with strong regulatory frameworks to ensure seamless asset transfers.
A higher standard of living—including better healthcare, security, and recreational opportunities—is another key motivator. Economic and regulatory factors, such as domestic policy shifts and potential tax increases, further drive them to seek a more stable environment abroad.
