China’s super-rich fled Singapore. Now they want to come back

A wealthy Chinese family.Viewstock | View Stock | Getty ImagesA year ago, wealthy Chinese families were souring on Singapore. Its rules felt onerous, its nightlife subdued. Other cities seemed easier or more exciting. Now they want to come back. Family-office advisers and wealth managers say they are seeing renewed interest in Singapore from affluent Chinese clients who had shifted their lives to other financial centers, as tightening scrutiny from Beijing and geopolitical turmoil make its stability look attractive again. The reversal underscores how quickly the calculations of Asia's wealthy can change. Singapore emerged as a favored destination for wealthy mainland Chinese seeking to diversify their assets and gain distance from Beijing, particularly after Hong Kong's 2019 protests and subsequent national security crackdown. However, its appeal faded after a $3 billion money-laundering scandal in 2023 triggered tighter scrutiny of wealthy clients and family offices. Stricter compliance checks, lengthy bank onboarding and residency requirements pushed some Chinese families toward jurisdictions they viewed as easier or more appealing - such as Hong Kong, Dubai and Tokyo.They're now...