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Safe Deposit Box - Is Singapore Ideal for Family Offices?

Is Singapore Ideal for Family Offices?

November 03, 2023 Vault@268

For a family office, building long-term investment strategies and securing wealth for future generations are top priorities. In recent years, Singapore has become a choice destination for wealth management offices, with 1,100 single family offices by the end of 2022 based on data from the Monetary Authority of Singapore. These families not only come from Asia but Europe and America as well.

Ultra-high net worth individuals are looking at alternatives to safeguard their wealth. Fueled by the COVID-19 experience, affluent families are reconsidering their wealth management and succession plans to guard against future uncertainty. A Channel News Asia article says family offices in Singapore have grown seven-fold since 2017, citing government estimates. According to the article, industry experts say private wealth in Asia has experienced faster growth than any other part of the world, making the demand from this region notably significant.

Many prefer to set up family offices in Singapore because of the country’s solid track record as a business and financial hub, its streamlined processes, political and economic stability, and targeted tax incentives. Plus, Singapore’s strategic location makes it a gateway for clients to access investments in the region.

For family wealth and investments, clients see Singapore as a safe haven. But when it comes to precious items that hold immeasurable value to their owners, they need a secure offsite storage solution they can trust. As banks scale back on safe deposit box services, where can they turn to for alternatives?

Enter Vault@268: Singapore’s first fully automated storage box facility located along Orchard Road. Jewelry, family heirlooms, important documents, collectibles, or artifacts can be stored at Vault@268, where owners can access them privately without dealing with others. With its state-of-the-art system, clients can trust that they can transact privately and securely with Vault@268. Using an advanced robotic retrieval system and a multi-level identity authentication system, the safe deposit boxes are dispensed to clients in a secure room.

Vault@268 can also serve as a secondary offsite storage solution for backup keys, bank tokens, and other physical assets for enhanced security.

We at Vault@268 enhance the user experience by providing 24/7 access to your most prized possessions in a safe and convenient location. For documents, such as wills, we also offer a complimentary Will Custodian Service.

An offsite storage for valuable possessions is nothing new; wealthy families have used this for generations. At Vault@268, however, we are redefining the offsite storage concept, elevating it to deliver top-notch service to our most discerning clients. Try it out for yourself.

To learn more about our services, contact or visit Vault@268, where Privacy Meets Protection.