Yesterday it was reported on Bloomberg news that facebook's co-founder Saverin is renouncing his us citizenship. The shocking part of the story is that he is living in Singapore.
It seems Singapore must be a really nice place to live in if you are a rich person.
The first rich guy i heard to move to Singapore was Jim Rogers. now its Saverin.
What is it in Singapore that is so good that these guys want to live here. i just don't quite get it.
1. security & convenience. in Asia, Singapore is clearly no.1
2. political stability
3. respect for property rights
4. environmentally pleasant (contrast to HK/China)
I thought the main reason is low tax and no capital gain tax, and money laundering through 2 IRs?
(12-05-2012, 03:32 PM)freedom Wrote: [ -> ]I thought the main reason is low tax and no capital gain tax, and money laundering through 2 IRs?
I often wondered why there are so many fellow Asians, especially those from 3rd World Countries and holding quite normal jobs ie. not the super highly paid ones, who seems to have no problem paying mostly in cash for a Million-$ property!
Having said that, imagine yourself as a min. Deca-Millionaire. Those from the western developed countries would be highly attracted to our low tax regime + ease of doing biz. Those from the surrounding SEA, South Asia and China would also see the added attraction of security - they (plus family members) get to move around without the need for a posse of armed body guards. Carrying Fire Arms + Kidnapping is easily a Death Penalty kind of offense here + a highly effective Police Force which is especially efficient in such cases.
The govt had already put in a lot of efforts to make Singapore a rich man's paradise (Low Tax, Security, Ease of Biz,..) and playground (Shopping, Casino, Theme Park, Esplanade for Arts, Night scene,...). Whatever they may lack here (eg. Snow, Mountains, Lake,..), with money, the rest of the world is simply just a flight away.
Hey! If you have money, lots of it, you'd see Singapore differently too. $100k COE or Million-$ Condo is just but a tiny peanut...
These pp have no idea what will happen if a world war happens again. Spore will perish for sure.
If I may, I would like to add another reason why foreigners choose to live here.
I am certainly not a rich one but I am a foreigner, a grateful guest of this country if you will. The key reason that my better half and I chose to live in Singapore is that we very much like Singaporeans. 99% of the Singaporeans we know are tremendous people - hard working, honest, family-centric and great company. Forgive me if this reality shocks forummers - but take it as a genuine compliment - no other country in this part of the world comes close.
Thank you ! Thank you! RBM. At least now we know we have a grateful guest who really appreciates Singapore because of Singaporeans and not only what Singapore can give.
Thanks RBM
After all the scolding of dogs, ungratefulness, punching incidents, etc.
It's really refreshing for a change to hear a foreigner thanking the locals here.
We are really NOT xenophobic unlike what our govt wants to warn us.
We only seek some politeness and humility from foreigners living here.
As a open economy, we have no issues with foreigners who are willing to adopt our culture and integrate with us.
I welcome you and ur family to our humble small piece of land.
Cheers.