Singapore, which is favored by the world’s richest people, has a strong sense of existence despite its small size.
At present, when the Chinese mainland and other emerging markets began to popularize the concept of the "big asset management era", Singapore has already succeeded in getting ahead of this trend and has developed from an Asian dollar center to an offshore wealth management center.
According to statistics from the Monetary Authority of Singapore, the country’s banks currently manage nearly US$200 billion in private wealth. In recent years, the growth rate in attracting private wealth has remained between 15 and 20%. More than 30 top personal wealth management and wealth management companies in the world are stationed. This has brought business prosperity to local banking institutions. Among the private bankers surveyed by consulting firm PricewaterhouseCoopers, half of them said they would choose Singapore as their Asian base!
With the changes in the domestic ecological environment, the increase in social employment pressure, and the emergence of children's education and other issues, more and more people have the idea of emigrating. Compared with European and American countries, Singapore will be more suitable for the Chinese.
Why has Singapore become the first choice for rich immigrants?
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The world's famous tax haven
Singapore is one of the world's famous tax paradise, which is why Singapore is so attractive to rich immigrants!
Singapore implements a regional tax system. The main taxes are corporate income tax, personal income tax, consumption tax, real estate tax, stamp duty, vehicle and vessel tax. no inheritance tax , Capital gains tax. Moreover, there is a 75% income tax exemption for newly established companies in the first three years. The personal income tax rate is progressive, and high-income earners must pay proportionally. The current highest personal income tax rate is 22%.
For high-net-worth individuals, Singapore’s tax system has huge advantages. In addition, the topic of "three allocations" is very hot recently. This was in mid-August. Proposed at the meeting of the domestic Central Finance and Economics Commission. What exactly is three allocation?
The first distribution emphasizes efficiency, so that capable people can get rich first; the second distribution emphasizes fairness, using taxation and other means to narrow the gap between the rich and the poor; The third distribution emphasizes social responsibility. High-net-worth individuals donate part of their wealth to help low-income groups improve their living, medical and educational conditions.
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Singapore’s Bank Secrecy Regulations
After the myth of bank secrecy laws in Switzerland, a tax haven, shattered. The wealthy Europeans with assets of tens of billions of dollars have left Switzerland. In order to attract high-asset-value customers, the world's major banks have gradually shifted their focus to emerging markets such as Asia and the Middle East.
In Asia, the wealth management industry has ushered in good times. The number of wealthy people there continues to grow substantially. Without Switzerland, private banks in Singapore are also prospering.
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Pro-business business environment
Singapore's pro-business environment is also well-known worldwide, and the local government is also committed to creating a pro-business environment to reduce red tape from administrative efficiency. In addition, Singapore will continue to be the country with the highest degree of economic freedom in the world in 2021.
The Singapore government has established rigorous laws and regulations to protect property rights and improve anti-corruption laws and policies to ensure that companies and businesses can develop in a safe economic environment; at the same time, it provides good economic policies to promote business activities, including the above Advantageous tax system; and long-term encouragement of international trade and investment!
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Global access
Singapore passportis visa-free for 190 countries and regions around the world, ranking second in the world, including the United States, Canada, China, most countries in Europe, etc., are equivalent to "International Pass".
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High-quality educational environment
The quality of education in Singapore is top in Asia and the world! Singapore's education system is in line with the world, diplomas are high in gold and internationally recognized, adopting bilingual teaching in Chinese and English, and a wealth of international schools. It is a golden springboard for institutions of higher learning in the United Kingdom, the United States, Australia, and Canada.
The local institutions of higher learning are also world-renowned. Nanyang Technological University and the National University of Singapore are among the world's leading universities!
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One of the safest cities in the world
For high-net-worth individuals, the security of the immigration country is very important, must effectively protect personal lives To be safe, we must also protect the safety of personal property. If you choose to immigrate to Singapore, you can rest assured!
In the "2021 Global Safe Cities Index Report" published by the Economist Intelligence Unit (EIU), Singapore has become one of the safest cities in the world! In a questionnaire survey, 94% of Singaporeans said that they are relieved to walk alone on the streets of Singapore at night, which is enough to show the local's ultra-low crime rate, strong police capabilities, and night security capabilities!
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Quality living environment
In terms of living environment, Singapore is known as the "Garden City", and its public security environment is a model in Asia. While all major cities in the world are enveloped by violence, homicide, drug abuse and other threats to the physical and mental health of young people, the Singapore government relies on strict laws and regulations to govern the country to make it Become Asia’s "best place to live".
Want to configure Singapore, which is so popular with high-net-worth individuals identity? Welcome to consult Xingyunhai International!
Xingyunhai International
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Singapore Family Office
According to the relevant regulations of Singapore: apply People set up a family office in Singapore and can incur a fee of S$200,000 per year. The family office can apply for Singapore permanent residency status for relevant persons.
By configuring and managing in Singapore Assets, allow family members to serve as senior managers in the family office, obtain an EP Employment Pass (Employment Pass), and apply for permanent residence status (PR) for the whole family after about two years.
  ; Advantages of immigrating to Singapore
★ Chinese liveable: 76% Chinese, the mainstream language is Chinese
★ Tax haven: no global taxation, no inheritance tax, no capital gains tax
★ Bilingual education: high-quality bilingual education environment, using Cambridge education system
★ Conducive to doing business: Once rated as one of the most suitable countries for doing business in the world
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