An increasing number of wealthy Chinese are shifting their focus from Singapore to Dubai and Abu Dhabi, according to the Financial Times, as tougher scrutiny and immigration rules in the Asian financial hub push them to look elsewhere for residency and investment opportunities. Private bankers and wealth advisers report a surge in inquiries from Chinese nationals eager to set up family offices in the United Arab Emirates — a move that not only helps manage their fortunes but also facilitates access to the Gulf’s long-term residency programs.
“They are attracted [to the Gulf] by the ability to get residency status and live and enjoy stability,” said Mike Tan, Standard Chartered’s Singapore-based global head of wealth planning and family advisory, noting a sharp rise in inquiries about Dubai from East Asian clients over the past year. The UAE’s “golden visa” program, offering 10-year residency to investors, select family members, and highly skilled professionals, has become a major draw thanks to its generous tax framework and political stability. Authorities in the Emirates issued nearly 80,000 golden visas in 2022, up from 47,000 the year before.
The shift in wealth migration patterns is already visible in Dubai’s financial landscape. The number of family-related entities registered in the city’s offshore financial center climbed to 1,000 in the first half of this year, up from 800 at the end of 2024 and 600 the year before, official figures show. While there is no formal breakdown by nationality, advisers say much of the growth has come from Chinese clients.
“The influx has been so significant that there’s now a shortage of financial professionals who speak Chinese,” said Prashant Tandon, managing director of Lighthouse Canton’s UAE wealth management arm. He noted that the biggest movement involves individuals with assets between $50 million and $200 million — the so-called “mid-segment” of high-net-worth families — many of whom are feeling business or political pressures in China and Hong Kong.
“A lot of families have sold Singaporean real estate to reinvest in the UAE,” added Yann Mrazek, managing partner at M/HQ, a Dubai-based firm that helps establish family office structures. He said the initial wave of relocations was sparked by strict Covid lockdowns in China and Singapore, but has since been reinforced by regulatory differences. “Singapore has very restrictive immigration rules — they want to ensure the right people come in,” said one Singapore-based adviser. “It’s relatively easy to set up a family office and get employment passes, but much harder to obtain residency or citizenship.”
Still, Singapore remains the dominant player in Asia’s family office scene. The city-state now hosts over 2,000 such entities — a 43% rise last year — thanks to earlier government incentives designed to attract global wealth. For many, having a family office in Singapore became a status symbol. “If your friend had one, you should have one too,” said Kevin Teng, chief executive of Wrise Private Singapore. “But it meant a lot of these entities weren’t doing very much.”
In recent months, Singapore’s authorities have tightened oversight after a record-breaking money-laundering scandal involving individuals linked to China’s Fujian province. Immigration approvals have also grown more selective, with consultants reporting acceptance rates as low as 8%. The Immigration & Checkpoints Authority says Singapore has granted an annual average of 33,000 permanent residencies and 21,300 citizenships over the past five years.
At the same time, Chinese crypto entrepreneurs have joined the exodus toward Dubai. Teng said clients increasingly prefer the Middle East’s lighter regulatory approach. The Dubai Virtual Assets Regulatory Authority (VARA) has issued 39 full licenses to cryptocurrency firms, while Singapore’s Monetary Authority has approved 36 — and recently intensified crackdowns on unlicensed exchanges. “Clients are increasingly going to the Middle East,” Teng said. “That is definitely a growing business segment for us.”
As the Gulf positions itself as a global wealth hub with tax-friendly policies and flexible residency options, Dubai is rapidly emerging as the new magnet for Chinese capital once destined for Singapore — a shift that underscores how regulation, perception, and opportunity can reshape the geography of global wealth.
