Recently, Henley & Partners, a well-known investment immigration consulting company in London, released the 2024 Henley Private Wealth Immigration Report.
The report relies on the authoritative data of New World Wealth, a leading global wealth intelligence provider, to predict and analyze the immigration trends of "millionaires" with at least $1 million in liquid investable assets worldwide.
The report points out that in 2024, it is expected that 128,000 millionaires (in US dollars) will choose to immigrate to new countries around the world.
In the global ranking of millionaire immigration destinations, the UAE, the United States, Singapore, Canada, Australia, Italy, New Zealand, Greece, Portugal and Japan are among the top ten.
In Asia, Singapore is the preferred immigration destination for the rich, and the net inflow of millionaires this year is expected to be 3,500.
01
Why do high net worth individuals
prefer to immigrate to Singapore?
The report pointed out that Singapore has become one of the most suitable cities for business in the world with its unique geographical location, political stability, sound legal system and a series of preferential policies, and has also become a preferred destination for global wealthy immigrants.
In addition, the report emphasizes that Singapore's superior tax environment is what attracts wealthy people.
1. Corporate income tax rate
Singapore's corporate income tax rate remains at a relatively low level in the world, with a standard tax rate of 17%. This tax rate applies to the taxable income of enterprises, providing a relatively relaxed tax burden environment for enterprises.
2. Tax relief and incentives
The Singapore government has provided a series of tax relief and incentive policies to encourage corporate investment and growth. For example, newly established tax resident companies can enjoy tax relief for new enterprises for up to three years after meeting certain conditions.
3. Territorial principle taxation
Singapore adheres to the territorial principle of taxation, that is, only taxing income generated in Singapore, and implementing tax relief for dividends obtained by resident companies from abroad, profits of their overseas branches, and service income from abroad.
4. International tax cooperation
Singapore has signed double taxation avoidance agreements with more than 80 countries around the world, reducing the tax burden of enterprises worldwide and promoting tax compliance and transparency.
5. Transparent tax environment
Singapore's tax system is known for its transparency and efficiency, providing enterprises with a clear legal framework and tax policies.
In addition to the above tax advantages, Singapore is also exempt from inheritance tax and capital gains tax, which makes it a tax haven in the eyes of Asia and even the world's wealthy.
02
How to immigrate to Singapore?
There are many ways to immigrate to Singapore, and the most popular one is the "Self-employed PIC Project".
Singapore's "Self-employed PIC Project" means that the main applicant applies for an EP employment certificate for himself as a shareholder by registering a private investment company (Private Investment Company) in Singapore.
After holding an EP and meeting certain residence and business requirements, the applicant can apply for permanent residency from the Singapore Immigration Bureau.
Compared with traditional immigration methods such as family offices, the application conditions for the "Self-employed PIC Project" are relatively simple.
? Education: College degree or above.
? Age: 30 to 50 years old is best.
? Threshold: It is recommended to invest at least 1 million Singapore dollars.
? Resume: Have industry achievements, entrepreneurial achievements and rich business and investment experience.
In addition, applicants can also entrust the company's business to a third party to operate, without spending a lot of time and energy, and three generations of a family can easily immigrate to Singapore.
If you also want to move to Singapore, please contact Xingyunhai International, we will provide you with a tailor-made exclusive plan.
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