The 2023 Singapore Rich List is announced, and the top six are all Chinese!

label： 2023-05-03

Recently, the famous business magazine CEOWORLD announced the latest list of Singapore's richest people.

Li Xiting, the founder of Mindray Medical, topped the list for three consecutive years with a net worth of approximately US$16.7 billion (approximately RMB 115.6 billion).

The following is the Top 10 list of the rich list, the top 6 are all Chinese:

Li Xiting, founder of Mindray Medical (approximately SGD 22.2 billion)

Wu Qingliang, founder of Asian paint manufacturer Lishi Group (approximately 19.8 billion SGD)

Huang Zuyao, Honorary Chairman of United Overseas Bank (UOB) (approximately 9.8 billion SGD)

Zhang Yong, founder of Haidilao (approximately 9.8 billion SGD)

Donghai Group (SEA) Li Xiaodong (about 7.2 billion SGD)

Zhang Qiansheng, ASE Semiconductor Manufacturing Company (approximately SGD 6.5 billion)

Hong Leong Group Guo Lingming (approximately SGD 4.5 billion)

Donghai Group (SEA) Ye Gang (approximately SGD 4.5 billion)

Wilmar International Guo Kongfeng (approximately S$4.38 billion)

Wei Chenghui, executive director and chairman of Qunce Global Holdings (approximately SGD 4.1 billion)

[ 1 SGD ≈ 5.1840 RMB ]

Previously, the Hurun Research Institute also released a report that Singapore is the most popular immigration destination for Chinese high-net-worth individuals.

Why do Chinese high-net-worth individuals choose to immigrate to Singapore?

The third largest financial center in the world

The 33rd "Global Financial Center Index (GFCI)" shows that Singapore has once again become the No. 1 financial center in Asia and the third largest financial center in the world!

The international environment is turbulent, especially after Silicon Valley Bank and Credit Suisse Bank were bombed, Singapore has become the first choice for more foreign companies and wealthy people to invest, and the momentum of foreign capital pouring into Singapore has become stronger.

The world's top education system

Education has always been one of the main reasons why most high-net-worth families choose to emigrate.

Singapore not only has a Chinese-English bilingual language environment, but also has famous and high-quality global top-level educational resources, among which elementary school basic education ranks first in the world and higher education ranks first in Asia.

In addition to strengthening bilingual teaching and social practice, the school's other courses are basically the same as those of primary and secondary schools in Commonwealth countries, laying a good foundation for children to go to European and American universities for further study.

Comfortable and safe living environment

The average temperature of Singapore is between 22-34 degrees. It is warm like spring all year round. It has the reputation of "Garden City". It has a developed economy and advanced medical technology. It is rated as one of the most suitable countries for human habitation by the United Nations.

Due to the short distance, no time difference, and no language barriers, Singapore has become a highly sought-after destination for Chinese immigrants, and the proportion of Chinese is as high as 74%.

Improve the legal system to ensure the safety of human resources

Singapore’s legal system is strict, and harsh laws bring stability and civilization to the society. It is a country with a low crime rate in the world.

In terms of financial security, Singapore is committed to creating a second Switzerland, allowing high-net-worth groups to achieve international strategic layout while ensuring asset security.

World-renowned low-tax country

Singapore is taxed regionally and has a low tax system (corporate income tax 17%; capital gains tax exemption), overseas income does not need to be declared and taxed, and there is no inheritance tax.

This is why many high-net-worth groups not only immigrate to Singapore with their families, but also gradually transfer business operations and personal assets to Singapore, which not only facilitates tax planning, but also allows wealth to be passed on from generation to generation.

An excellent business-friendly environment, a sound legal system, and a superior strategic location in the Asia-Pacific region make Singapore an ideal place to create wealth and live in peace and contentment.

If you are interested in consulting on asset allocation, identity planning, wealth inheritance, etc., please contact Xingyunhai International's professional team.