An increasing number of affluent Indian families are establishing family offices in Singapore, joining the Ambani family who did so in 2022. These young business elites aim to preserve and grow their wealth, ensuring it passes smoothly to the next generation while avoiding family disputes, the Straits Times reported. Singapore's stable political and economic climate, favourable business environment, and tax regime make it a top destination, according to DBS Bank. The bank estimates that USD4tr of wealth among the Indian diaspora will transfer between generations in the next decade. Singapore now hosts nearly 60% of Asia's family offices, with numbers projected to rise from 2,800 in 2022 to 3,200 in 2023. As their wealth increases, many wealthy Indians seek formal family office structures to address compliance and governance issues.