NEW YORK (Reuters) -- Ray Dalio, founder of hedge fund Bridgewater Associates, is opening an office in Singapore to run his investments and philanthropy in the region. Dalio has been building relationships in Singapore and China for the past three decades and he and his family believe it is "high time" they have a physical presence there, a statement from the Dalio Family Office said on Friday. Singapore has long attracted investors from China and Southeast Asian countries by offering tax incentives and fast-tracking super-rich individuals for permanent residency.