The 2008 global financial crisis, the 2011 European debt crisis and other external factors, the 2010 income tax bill amendment, the 2020 GIP Global Business Investor Program qualification and the VCC variable capital company and other internal factors have worked together to build Singapore into a wealth management center in the Asia-Pacific and even the world.
In recent years, many high-net-worth clients have set up family offices in Singapore.
Today, we look at the Lion City from an authoritative and three-dimensional perspective and count the seven advantages of setting up a family office in Singapore.
NO.1 national strategic advantage
From a political perspective, wealth management is not only an economic and financial business, but a sovereign business,< span style="color: rgb(192, 0, 0);">Singapore is the highest strategic positioning country for wealth management business in the Asia-Pacific region.
Wealth management is part of the country’s broad economic strategy, which is the basis for Singapore’s success at home and abroad. At present, this strategic positioning is also continuing. We can see that Singapore is working hard to build an important node in the region and even the world.
NO.2 geographic location advantage
A location advantage, Singapore is located in the East 8th time zone and New York and London are almost realized on a global scale24-hour trading time difference coverage.
Two port advantages, Singapore is located in the throat zone of the "Strait of Malacca", the golden waterway of the Pacific and Indian Oceans, the development of international trade Promote international exchanges and integration.
Because of the nature of the transit port, it is bound to promote the development of the tertiary industry, especially the establishment of the financial service industry.
NO.3 advantage of the legal system
As a Asia’s major arbitration center, Singapore is the preferred base for international law firms and lawyers from Southeast Asian multinational corporations, which depends on its development The legal system and infrastructure with a high degree of trustworthiness have gradually become the dispute settlement center in Asia. The International Commercial Court and the International Arbitration Center cooperate with each other and have complementary advantages.
In December 2004, Singapore promulgated the newly revised "Trust Law", allowing foreigners who invest in trusts in Singapore to be exempt from the "statutory In some countries, such as the United States, the proportion of inheritance rights is limited, and huge taxes will be levied on property acquired beyond the proportion of inheritance rights.
NO.4 advantages of global integration
International integration is one of the important reasons why Singapore is recognized by foreigners. For high-net-worth individuals, how to find a balance between international standards and information protection is particularly important. In this regard, Singapore strives to do better.
In terms of specific business, for example, considering the needs of Islamic customers in the Middle East, the Islamic Bank of Singapore was established.
Regarding wealth management business, Singapore is based on a global perspective.
NO.5 cross-strait financial advantages
As a the world’s leading onshore international financial center, Singapore has established a separate international financial center to attract foreign institutions into Singapore at the same time Effectively protect the development of local institutions.
Take offshore family trusts as an example. Compared with offshore family trusts established in offshore islands, established by foreigners in Singapore Of offshore family trusts can also enjoy its world-leading onshore financial services, such as financial infrastructure or asset management.
NO.6 tax planning advantages
Singapore has no inheritance tax, no capital gains tax, personal income tax and corporate income tax are also low. Singapore has signed CRS with countries around the world, but has not signed the EOI "Multilateral Competent Authority Agreement" with China.
This shows that the exchange of tax information between Singapore and China’s jurisdictions needs to be based on other international agreements. the current China and Singapore’s It is mainly the "Double Taxation Agreement", so the Singapore government has no reporting obligation to exchange tax information with China and other countries.
NO.7 privacy protection advantage
The Singapore government attaches great importance toCitizens’ Individual Rights, the "Personal Data Protection Act" stipulates that any unauthorized collection, use, disclosure or copying of other people’s identity information will be illegal.
In addition, the Singapore government’s outstanding performance in all aspects of livability, business environment, financial supervision, etc. are all high The macro background of net worth individuals choosing to set up a family office in Singapore.
Set up your family office in Singapore to achieve asset allocation + asset management + wealth inheritance + family immigration to Singapore !
Xingyunhai International
SING YUN
Singapore Family Office
According to the relevant regulations of Singapore: the applicant sets up a family office in Singapore and can incur a fee of S$200,000 per year. The family office can provide Singapore Application for permanent residency status.
By configuring and managing assets in Singapore, let family members serve as senior managers in the family office and obtain an EP Employment Pass, about two years later Can apply for permanent residence status (PR) for the whole family.
Application conditions
★ There are no age, education, or language requirements for applicants.
★ Applicant's net worth of personal assets is not less than 20 million SGD.
★ Invest at least S$10 million in financial institutions under the management of the Singapore Monetary Authority to purchase properties and financial products in Singapore, including financial products no less than S$8 million The property does not exceed SGD 2 million.
Advantages of immigration to Singapore
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Cyprus
Turkey
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Greece
