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The Aura of Singapore: 5 Reasons for Attracting the Wealthy Around the World

In recent years, Singapore has become a magnet for the global affluent. In 2022 alone, 2,800 millionaires relocated to Singapore. Alongside the well-known move of “Haidilao” founders Zhang Yong and his wife, “ByteDance” founder Zhang Yiming has also reportedly made Singapore his home. Recently, news broke that “Alibaba” co-founder Jack Ma’s wife purchased three shophouses in Singapore for SGD 50 million. Additionally, two of China’s investment giants, “Hillhouse Investment” founder Zhang Lei, often referred to as the “Warren Buffett of China,” and “Sequoia Capital” founder Neil Shen, known as the “Godfather of Chinese Venture Capital,” have also joined them.

So, why is Singapore so attractive to the affluent? Here are the top five reasons:

 

1. Leading Financial Hub and Business-Friendly Environment

Singapore is not only Asia’s financial center but also known for its open and supportive business climate. The government’s progressive policies attract significant foreign investments and businesses, making Singapore an ideal destination for investors. As the largest forex center in the Asia-Pacific region, Singapore boasts a world-class financial system, ensuring optimal wealth management.

 

2. Simple Business Setup and Robust Legal Framework

Starting a business in Singapore is straightforward and convenient. The government provides extensive support for overseas enterprises, and its efficient regulatory framework facilitates the establishment of companies. Singapore’s top-tier legal system offers reliable legal support for businesses.

 

3. Hub for International Trade and Collaboration

Situated at the heart of Southeast Asia, Singapore connects with major regional markets, offering abundant opportunities for investors and businesses alike. With over 25 free trade agreements, Singapore actively promotes international trade, providing easy access to significant economic markets. This ensures that your wealth remains yours during your lifetime and transfers smoothly to your beneficiaries after your passing.

 

4. Favorable Tax System and Wealth Management

Singapore’s tax system is highly attractive to expatriates and investors. The country maintains low personal income tax rates and does not impose capital gains, inheritance, or estate taxes, ensuring better wealth preservation and growth. As a hub for offshore wealth management, Singapore is a preferred choice for preserving and enhancing wealth.

 

5. High Quality of Life and Diverse Cultural Heritage

Beyond its economic benefits, Singapore offers a high quality of life and a rich multicultural environment. Its stable political landscape and skilled workforce create numerous employment opportunities. Singapore’s world-class education system is also a significant draw for wealthy families with children.

 

Conclusion

In conclusion, Singapore warmly welcomes foreign businesses and residents, making it not only an investment haven but also a comfortable place to live. If you seek to build wealth in Asia while enjoying a high standard of living, Singapore is an opportunity you should seriously consider. You may interested to also read these articles to help you understand the steps of migrating to Singapore.

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Lidwina Teo 维娜

With over 5 years of experience in client service industries, I come to understand and appreciate the importance of high-quality customer service and customer experience. The key is to always prioritize the best interests of customers, ensuring their needs and expectations are met with professionalism.

The passion for client service extends into my current role where I strive to deliver personalized financial planning services. With more than 150 business partners in our company, I can help you achieve your financial goals by analyzing various financial products and offering tailored financial advice. 

Contact me now to request for a quotation or schedule a coffee session for further discussion. See you soon!

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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

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  • 我已阅读并理解鑫盟理财私人有限公司的个人数据保护政策，并同意鑫盟理财私人有限公司根据个人数据保护政策所阐述的用途使用我的个人资料。
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  • Financial Alliance Pte Ltd ( “FAPL”) is licensed by the Monetary Authority of Singapore (“MAS”) and allowed to conduct financial advisory activities in accordance with the Financial Advisers Act (Cap. 110) (“FAA”) and the Securities & Futures Act (Cap. 289) (“SFA”) within the jurisdiction of the Republic of Singapore and in accordance with the licenses granted by MAS
  • 鑫盟理财私人有限公司( “鑫盟理财”)持有由新加坡金融管理局(“MAS”)所颁发的牌照，并许可在新加坡共和国境内依据财务顾问法（第110章）和证券与期货交易法（第289章）进行财务咨询等相关业务
  • Any services provided by FAPL to persons not ordinarily resident in Singapore are provided solely on an offshore basis from Singapore, resulting from direct enquiry on the part of the foreign residents.
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  • As an integral part of the provision of such services, FAPL may from time to time make available to such residents, documents and information making reference to capital markets products (for example, in connection with the provision of fund management or investment advisory services outside of the foreign jurisdiction).
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  • Such documents and information are provided by Financial Alliance Pte Ltd (“FAPL”) is for general information only and is not intended for anyone other than the recipient.
  • 此类由鑫盟理财所提供的文件和信息仅供收件人做一般信息参考。
  • It does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
  • 此类文件和信息不会把-个人投资目标，财务状况或其特定需求等考虑在内。
  • It does not constitute the making available of, or an offer or solicitation by FAPL to buy or sell or subscribe for any such capital markets product or to enter into a transaction or to participate in any particular trading or investment strategy nor an advice or a recommendation with respect to such financial products.
  • 鑫盟理财向该人士提供此类文件和信息将不构成要约或招揽购买或出售或认购任何此类资本市场产品，或达成交易或参与任何特定的投资策略，也不构成有关此类金融产品的建议或推荐。
  • These documents may not be published, circulated, reproduced or distributed in whole or in part to any other person without FAPL’s prior written consent.
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  • This document is not intended for distribution to, publication or use by any person in any jurisdiction, where such distribution, publication or use would be contrary to applicable law or would subject FAPL and its related corporations, connected persons, associated persons and/or affiliates to any registration, licensing or other requirements within such jurisdiction.
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  • You shall ensure that you have and will continue to be fully compliant with all applicable laws in your home country when entering into discussion or contracts with FAPL.
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.

提交此表格，即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策