Singapore and Hong Kong are emerging as Asia’s principal safe-haven jurisdictions for wealth, according to Julius Baer research dated 28 October 2026 and subsequent comments from Jimmy Lee, the bank’s Asia head.
The research notes that market volatility linked to artificial intelligence, geopolitical tension and elevated government debt has prompted investors to reconsider traditional safe-haven assets. In this environment the two Asian centres are attracting capital seeking stability, regulatory clarity and proximity to regional wealth creation.
Hong Kong and Singapore ranked first and third respectively in global cross-border wealth booking flows, according to Boston Consulting Group data cited by Julius Baer. What differentiates them is positioning. Singapore’s neutrality and connections across Greater China, Southeast Asia and India allow it to draw capital from a wide range of markets. Hong Kong continues to function primarily as the gateway for mainland Chinese wealth.
Jimmy Lee has pointed to a broader shift among affluent families in the region, from pure wealth preservation toward diversification, succession planning and intergenerational transfer. Singapore’s cross-border wealth is projected to expand at a compound annual rate of about 9 per cent between 2025 and 2030.
For private wealth investors and family offices, the distinction matters. The two centres are complementary rather than interchangeable, offering different risk, regulatory and client-origin profiles within the same time zone.