SINGAPORE: A new generation of young Indian business elites is increasingly turning to Singapore to set up family offices, following in the footsteps of the Ambani family, which established its own of
fice in the city-state in 2022.report, these affluent families, many of whom come from humble beginnings, are looking to protect their growing wealth while passing down both their financial assets and core values to future generations.—private wealth management firms set up to manage and grow the financial assets of high-net-worth families—have become a key tool for preventing intergenerational feuds and ensuring effective governance and decision-making.
Singapore’s regulatory environment, which offers credibility, transparency, and ease of doing business, is a major draw for wealthy Indian families seeking to set up family offices.Mr. Arvind Tiku, founder and group chairman of investment firm AT Capital, emphasized that Singapore’s clear rules and reputable governance structure give it an edge over other destinations in the region.of Asia’s family offices.
Family offices are increasingly diversifying their portfolios, moving beyond physical assets to include public and private equity investments, as well as alternative assets like technology start-ups. Vimal Shah, chairman of Bidco Africa, which operates a leading consumer goods company in East Africa, relies on a network of MFOs based in Singapore, Mauritius, Dubai, and Switzerland to help manage his family’s wealth. “MFOs offer us personalized advice on where to invest, allowing us to make more informed decisions,” he said.While Indian family offices have long favoured real estate, many are now looking for opportunities beyond the domestic market.
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