Private Banks in Singapore
Compare leading private banks and their services in Singapore
Singapore Private Banking Market
Market Size
Total assets under management in Singapore
Tax Advantage
Capital gains tax rate in Singapore
Global Ranking
Largest private banking center in Asia
Leading Singapore Private Banks
UOB Private Banking
Key Strengths
- ✓ Extensive Southeast Asian network
- ✓ Lower minimum investment requirement
- ✓ Strong regional expertise and insights
- ✓ Competitive fee structure
- ✓ Multi-generational wealth planning
Specialized Services
- • ASEAN Investment Opportunities
- • Cross-Border Trade Financing
- • Family Succession Planning
- • Art & Wine Investment
- • Singapore Residency Advisory
OCBC Private Banking
Key Strengths
- ✓ Digital innovation and technology
- ✓ Comprehensive wealth solutions
- ✓ Strong China and Greater Asia focus
- ✓ ESG and sustainable investing
- ✓ Next-generation banking services
Specialized Services
- • Greater China Investment Access
- • Sustainable Investment Solutions
- • Digital Wealth Platform
- • Trust & Fiduciary Services
- • Business Banking Integration
Singapore Banks
Leading local private banks with strong regional presence
| Bank | Minimum Investment | Management Fee | Key Services | Description |
|---|---|---|---|---|
| DBS Private Banking | SGD 3,000,000 | 0.45% - 1.55% |
| Singapore's largest bank offering comprehensive private banking services |
| OCBC Private Banking | SGD 2,000,000 | 0.40% - 1.50% |
| Full-service private banking with strong Asian presence |
| UOB Private Banking | SGD 2,500,000 | 0.42% - 1.52% |
| Private banking services with extensive regional network |
| Bank of Singapore | SGD 2,000,000 | 0.40% - 1.50% |
| Dedicated private banking subsidiary of OCBC |
Global Banks
International private banks with Singapore operations
| Bank | Minimum Investment | Management Fee | Key Services | Description |
|---|---|---|---|---|
| UBS Private Banking | USD 2,000,000 | 0.50% - 1.50% |
| Global wealth management leader with strong Asian presence |
| Credit Suisse Private Banking | USD 1,000,000 | 0.45% - 1.35% |
| Swiss private banking expertise in Asia |
| J.P. Morgan Private Bank | USD 5,000,000 | 0.60% - 1.75% |
| Global private banking with comprehensive services |
| Standard Chartered Private Bank | USD 2,000,000 | 0.50% - 1.60% |
| International private banking with Asian focus |
| HSBC Private Banking | USD 5,000,000 | 0.65% - 1.75% |
| Global private banking with strong presence in Asia |
| Citi Private Bank | USD 25,000,000 | 0.80% - 1.90% |
| Ultra-high-net-worth focused private banking |
Singapore Private Banking FAQ
Get expert answers to common questions about Singapore private banking, including requirements, services, costs, and application processes.
Requirements
Minimum investments in Singapore vary by bank type. Local banks: DBS Private Banking (SGD 3M), OCBC Private Banking (SGD 2M), UOB Private Banking (SGD 1M). Global banks: J.P. Morgan Private Bank (USD 5M), UBS Private Banking (USD 2M), Credit Suisse (USD 1M). Requirements may be lower for existing customers with established relationships.
Services
Singapore private banks offer comprehensive wealth management including investment advisory, estate planning, tax optimization, family office services, trust administration, succession planning, and exclusive investment opportunities. They specialize in Asian market expertise, cross-border solutions, and multi-currency management.
Regulation
Private banks in Singapore are regulated by the Monetary Authority of Singapore (MAS) under the Banking Act and Securities and Futures Act. Regulations include anti-money laundering requirements, client asset protection measures, risk management standards, and capital adequacy requirements. Singapore maintains high regulatory standards while remaining business-friendly.
Tax Benefits
Singapore offers significant tax advantages including no capital gains tax, territorial tax system, extensive double taxation treaties, and competitive personal income tax rates (up to 22%). Many wealthy individuals use Singapore as a base for regional wealth management and tax optimization strategies.
International Access
Yes, foreigners can open private bank accounts in Singapore. Requirements include minimum investment thresholds, source of wealth documentation, enhanced due diligence, and often a Singapore presence (residence, business, or property). Many banks prefer clients with regional business interests or family connections.
Regional Comparison
Singapore offers political stability, stronger regulatory framework, and better tax advantages compared to Hong Kong. Singapore has no capital gains tax and clearer long-term political stability. Hong Kong offers closer China market access but faces ongoing political uncertainties. Many clients are relocating from Hong Kong to Singapore.
Bank Comparison
Top private banks in Singapore include local leaders DBS Private Banking, OCBC Private Banking, and UOB Private Banking, plus global players like UBS, Credit Suisse, J.P. Morgan Private Bank, and Standard Chartered Private Bank. Local banks offer competitive fees and regional expertise, while global banks provide international reach.
Related Articles
Guide to Private Banking in Singapore 2025
Comprehensive overview of private banking services, requirements and opportunities
Read More →Choosing Between Local vs Global Private Banks
Compare Singapore's local banks with international private banks
Read More →Private Banking for Young Professionals
How to get started with private banking services in Singapore
Read More →