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Why the world's ultra rich are flocking into Singapore right now

Singapore’s average wealth per adult is currently US$282,000 (5th in the world)
       
The number of High-Net-Worth (HNW) individuals rose 21.5% in 2012
     
HNW Individuals hold USD 857 billion in wealth
     
The number of HNW individuals in Singapore expected to rise 58% by 2017
     
HNW Individual wealth expected to surpass USD 1.38 trillion by 2017
     
Assets under management across Singapore hit a record high of USD 1.29 trillion

The degree of wealth shifting to Singapore is truly staggering so it is important to look at why wealthy individuals from across the globe are seeking to make Singapore their new home. Highlighted below are some of the key reasons we are seeking such rapid growth in the number of HNW individuals shifting to Singapore.

A shift from Switzerland to Singapore

There is great talk about Singapore becoming the new Switzerland and taking the title of being the global financial hub for the world’s wealthy. Switzerland’s main attraction has always been the secrecy offering by the banking sector which has become much less applicable over recent years and without this benefit, there is little keeping the funds in Switzerland.

The Singaporean Dollar

Monetary Policy in Singapore is expected to remain on track and the Singaporean Dollar is expected to continue to gradually appreciate against other major currencies. This provides a degree of currency stability for global investors looking for a ‘safe haven’ for their investments, particularly during these times of economic volatility.

Economic Growth

Merrill Lynch is forecasting economic growth for 2013 of 3.5% and 2.8% for 2014. The Central Bank here in Singapore has also highlighted that they do not expect any material difference in the economic growth rates between this year and next. This positive growth outlook also provides for a compelling investment case for global investors.

Tax Rates

The maximum personal income tax rate in Singapore is 20% which applies to income over S$320,000. To give you some reference, here are the top income tax rates in the home countries of many expats here:

        Australia – 45%
        UK – 50%
        France – 45%
        New Zealand – 45%
There is also no tax payable on capital gains made from buying and selling financial instruments such as shares.

Where else?

China: Chinese economic data continues to show a slow-down in the economy, despite growth rates still remaining high relative to other countries.

UK: The latest IMF report, whilst reporting an upgrade in their economic outlook expects output to remain well below potential output for “many years”.

Europe: European economic concerns continue globally. BNY Mellon chief economic is quite pessimistic about whether the recent economic growth that brought them out of recession is sustainable in future years. Debt levels remain a concern and we are yet to see a great deal of structural reform.

US: The US economy has performed relatively well and is showing signs of early economic growth, however the recent debacle regarding raising the US debt ceiling and resulting government shut-down highlights an instability HNW individuals do not want to be exposed to.

There is little doubt that the wealth will continue to pour into Singapore as the benefits of being based here continue to provide for a compelling case. As a result, the Singaporean economy will continue to prosper with new jobs being created, further infrastructure developments and a strengthening financial sector.

- See more at: http://sbr.com.sg/financial-services/comme...h.CkLydoWo.dpuf

Wow this sounds good, money inflow to sg and sgd might go even stronger. Bagus bagus. The more fund inflow to sg
The better for us

For poor working class it means inflation.

Minimum 1-2 years experience
Fresh Graduates encouraged to apply

Wow this sounds good, money inflow to sg and sgd might go even stronger. Bagus bagus. The more fund inflow to sg
The better for us

- needs work experience
- asks fresh grads to apply

WUT

Why the world's ultra rich are flocking into Singapore right now

Singapore’s average wealth per adult is currently US$282,000 (5th in the world)
       
The number of High-Net-Worth (HNW) individuals rose 21.5% in 2012
     
HNW Individuals hold USD 857 billion in wealth
     
The number of HNW individuals in Singapore expected to rise 58% by 2017
     
HNW Individual wealth expected to surpass USD 1.38 trillion by 2017
     
Assets under management across Singapore hit a record high of USD 1.29 trillion

The degree of wealth shifting to Singapore is truly staggering so it is important to look at why wealthy individuals from across the globe are seeking to make Singapore their new home. Highlighted below are some of the key reasons we are seeking such rapid growth in the number of HNW individuals shifting to Singapore.

A shift from Switzerland to Singapore

There is great talk about Singapore becoming the new Switzerland and taking the title of being the global financial hub for the world’s wealthy. Switzerland’s main attraction has always been the secrecy offering by the banking sector which has become much less applicable over recent years and without this benefit, there is little keeping the funds in Switzerland.

The Singaporean Dollar

Monetary Policy in Singapore is expected to remain on track and the Singaporean Dollar is expected to continue to gradually appreciate against other major currencies. This provides a degree of currency stability for global investors looking for a ‘safe haven’ for their investments, particularly during these times of economic volatility.

Economic Growth

Merrill Lynch is forecasting economic growth for 2013 of 3.5% and 2.8% for 2014. The Central Bank here in Singapore has also highlighted that they do not expect any material difference in the economic growth rates between this year and next. This positive growth outlook also provides for a compelling investment case for global investors.

Tax Rates

The maximum personal income tax rate in Singapore is 20% which applies to income over S$320,000. To give you some reference, here are the top income tax rates in the home countries of many expats here:

        Australia – 45%
        UK – 50%
        France – 45%
        New Zealand – 45%
There is also no tax payable on capital gains made from buying and selling financial instruments such as shares.

Where else?

China: Chinese economic data continues to show a slow-down in the economy, despite growth rates still remaining high relative to other countries.

UK: The latest IMF report, whilst reporting an upgrade in their economic outlook expects output to remain well below potential output for “many years”.

Europe: European economic concerns continue globally. BNY Mellon chief economic is quite pessimistic about whether the recent economic growth that brought them out of recession is sustainable in future years. Debt levels remain a concern and we are yet to see a great deal of structural reform.

US: The US economy has performed relatively well and is showing signs of early economic growth, however the recent debacle regarding raising the US debt ceiling and resulting government shut-down highlights an instability HNW individuals do not want to be exposed to.

There is little doubt that the wealth will continue to pour into Singapore as the benefits of being based here continue to provide for a compelling case. As a result, the Singaporean economy will continue to prosper with new jobs being created, further infrastructure developments and a strengthening financial sector.

- See more at: http://sbr.com.sg/financial-services/comme...h.CkLydoWo.dpuf

one question, remember i have to move out of the place i staying after 1 month, the time is next week. landlady claimed i brought ants, which she never see in her unit before -.- so let say if she refuse to give back my deposit next week, what should i do?

one question, remember i have to move out of the place i staying after 1 month, the time is next week. landlady claimed i brought ants, which she never see in her unit before -.- so let say if she refuse to give back my deposit next week, what should i do?

one question, remember i have to move out of the place i staying after 1 month, the time is next week. landlady claimed i brought ants, which she never see in her unit before -.- so let say if she refuse to give back my deposit next week, what should i do?

Call police, create a scene, refuse to leave. If you don't have any proof that you paid her any deposit, then suck thumb and hope for the best.

you think this is Malaysia, do as you please ?

Hi all, I'm looking for a room, not sure if anyone can advice what is the best place to search for direct room posting from landloard? I same across sites like SGrooms, flatsdb, sg-house, propertyguru, but most of these are dominated by agent postings.

It seems sg had tighter restrictions in foreign worker
Its hard to look for job now in sg?

My cousin just manage to get an EP approved by MOM after appeal by his company (being rejected the first time.)
And he has >8 years working experience and earns >SGD6k p.m.
So you tell me easy or hard.