Around 1 in 22 Singapore residents is now a millionaire, compared with 1 in 23 in Monaco. The city-state is home to approximately 251,000 millionaires and 265 centi-millionaires, despite having a population of just under 6 million.
The concentration of wealth is the result of more than three decades of deliberate policy aimed at attracting global capital. Singapore has built a powerful ecosystem around its Global Investor Programme, family office incentives, sophisticated private banking sector, political stability and relatively low personal taxes, with a top rate of 22% and no capital gains tax on personal investments.
The influx is continuing to accelerate. Singapore attracted around 3,500 net new millionaires in 2025, with wealth migration driven largely by arrivals from Hong Kong and mainland China, alongside increasing interest from Western investors seeking a stable base in Asia.
For wealthy families considering an Asian base in 2026, Singapore increasingly stands out as one of the world’s leading wealth hubs, combining tax efficiency, deep financial infrastructure, political stability and a long-standing strategy of attracting international capital.