Singapore vs. Jersey: where should a family office set up?

Family offices looking to establish or change domicile have more options than ever before. But what factors affect the suitability of a particular location? Many credible options exist, from the USA to Switzerland, Luxembourg, the Caymans or the UAE, but in this article we’ve focused on two markets to illustrate key differences and how they shape the decision-making process. 

In effect, we’re looking at two ends of the spectrum: Jersey, a long-established and trusted home for private wealth, and Singapore, a fast-growing market where family offices have increased five-fold in recent years. 

Singapore: rapid growth and access to incentives

Since 2020, Singapore has seen significant growth in the number of family offices domiciled in the city-state. Figures from the Monetary Authority of Singapore reveal that by December 2025, the country was home to over 2,000 single-family offices, up from an estimated 400 at the beginning of the decade. 

This growth reflects a broader context: the country’s asset management industry grew 10.1% in 2025 alone, reaching S$6.7 trillion (approx. US$5.3 trillion) total assets under management. Much of that growth is driven by proximity. Singapore is a gateway to Asia-Pacific capital, with next-generation wealth increasingly flowing in from China, India and Indonesia. 

And as wealth grows, talent follows: in recent years Singapore has attracted legal, fiduciary and fund-structuring professionals from around the region. And tax exemption schemes 13O and 13U, which apply to fund vehicles managed by Singapore-based fund managers, provide an additional incentive for family offices with seven-figure or greater AUM to locate in the country.

Jersey: an established market with deep specialisation 

Jersey, by contrast, is characterised more by the maturity and scale of its market than by recent growth. Research by Jersey Finance reports that more than 14,000 financial industry professionals are based on the island, responsible for managing over £1.3 trillion (approx. US$1.8 trillion) of total assets held there.

Over 60 years of trust and foundation structuring expertise makes Jersey a highly credible, trusted location for family office operations. Its proximity to key UK and European finance centres makes it an ideal choice for families whose wealth is anchored in Europe, or whose next generation have strong ties to the continent.

With no capital gains tax, a 0% corporate tax rate for most businesses or vehicles, no inheritance tax, and no VAT, the island remains an attractive environment for growing and protecting wealth. Practically, Jersey also offers a time-zone advantage, bridging US and Asian working hours within a single local business day. 

How do these markets differ when it comes to recruitment?

Financial incentives, regulatory considerations and tax liabilities are all crucial considerations for family offices choosing a suitable domicile. But in our experience, one of the most influential factors in the success of a family office in a new location is the quality and depth of the total available talent pool – a combination of locally available professionals and the potential to attract talent from further afield to relocate. 

Our two examples offer an illustration of the spectrum that many family offices are faced with. On the one hand, a fast-growing market with high competition for talent; on the other, an established market with deeper specialisation and lower churn.

Jersey has a smaller absolute talent pool, commensurate with its much smaller population, but it is highly specialised. The island boasts a wealth of niche professionals experienced in trust, fiduciary and family office work, as well as the legal, tax and accountancy expertise needed to support family office operations. But there’s a trade-off. Churn is lower, with many professionals well established in their roles for the medium to long term. A family office looking to build a full team quickly may find Jersey’s market doesn’t have the talent they need on short notice.

In Singapore, recent growth has created a competitive market for experienced family office professionals. Salaries have moved quickly, and counter-offers are the norm, but candidates with deep, multi-generational trust and succession experience are still hard to find. The talent pool has grown fast, but not necessarily in every direction. That said, across the Asia-Pacific region, an estimated US$6 trillion in wealth is expected to pass to the next generation in the coming years, and local talent and experience will continue to develop as a result.

Of course, no two family offices are exactly alike, and the calculation differs according to the family’s objectives. Setting up a new office quickly requires different market conditions from gradually building a specialist team over several years. But is it always a binary choice?

Is there a “best of both worlds” option?

Yes – it’s not necessary to pick a single location. Family offices looking to combine the benefits of more established markets with faster-growth locations can take a hybrid approach. Using our two featured locations as an example, a family office could opt for a Singapore-based management and investment structure alongside a Jersey-based trust or foundation holding the underlying wealth. 

It’s a familiar pattern for families with assets spread across several countries: a coordinating structure in one jurisdiction, layered over holding companies and trusts wherever the underlying assets actually sit. From a recruitment perspective, however, the challenge remains the same: identifying which jurisdictions score highest on available talent relevant to the structures based there, and the expertise and experience needed to run them.

Where specialist support can add real value

At Victus Search, it’s a challenge we’re familiar with. We work with family offices worldwide on recruitment support, whether that’s finding the right candidates for a newly founded office or supporting with hiring needs related to relocation or expansion. We can also advise on building a family office culture that attracts top talent. 

Our extensive global network gives us access to niche, specialist professionals not active in the recruitment market, helping our clients locate otherwise hidden talent. If you’re building a new team, looking to fill a specific senior or executive role, or researching the hiring landscape ahead of a change of domicile, contact us for an initial consultation in full confidence.