Singapore, despite her la petite population of just 5.7million, in fact, has one of the highest number of ultrahigh net worth residents whose assets total over 1 billion. According to a report by U.K real estate company Knight Frank, the number of Singapore residents whose total assets exceed $30 million reached 3732 in 2020, an increase of 10.2% as compared to previous year. This goes to show that Singapore is becoming the world’s most sought-after locations for the super wealthy to set up family offices where the city state offers not only political and economic stability but as well ease of doing business.
Moreover, Singapore’s friendly tax regime which is far lower than in Europe and the US, and free-market credentials, are seeing foreign funds and assets flowing in notwithstanding the pandemic. With such an inflow of affluence, the city state’s central bank is covering some of the costs of setting up variable capital companies (VCCs) until 2023 to encourage wealth transfers from other jurisdictions. It is also observed that the local luxury property market tops the location of investment homes after Britain, the US and Australia. Riding on the same coattails, how can you ensure that you are not left behind? Find out more as our speakers share insights and their experiences in managing assets in Singapore and UK.
- The appeal of Singapore
- What are the typical UK HNWI structures?
- Key areas to review from a SG perspective pre-arrival
- A look at potential tax reform in the UK and how it can affect existing UK HNWI structures
- What to look out for when acquiring a property in the UK and the various UK taxes that might be involved
Free Admission for Clients/ Business Associates; $80 per pax for Public