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.
Offshore Portable Retirement Planning for Expats in Singapore
Recently, Singapore was ranked as the 5th most expensive city in the world to live and this will come as no surprise to anybody residing here.
On July 18, 2013, the Singapore Ministry of Finance announced that it was modifying its Exchange of Information (EOI) regime in a variety of ways, including issuing a notice that it intended to conclude an “intergovernmental agreement” (“IGA”) with the U.S.
Sustainability reporting is the publication of environmental, social and governance information in a comprehensive and strategic manner that reflects the activities and outcomes across these three aspects of an organisation’s performance.
A 2012 global-fraud survey conducted by ACI Worldwide, a global provider of electronic payments solutions for financial institutions, retailers, and processors, showed that one in four respondents said that they have been victims of credit, debit or pre-paid card frauds over the last five years.
If you have a startup in Singapore, ignore the business plan, financial projections, valuations, and statistics (for now) – look at yourself – are you the kind of CEO that investors will want to spend $1 million USD to have coffee or champagne with?
The Monetary Authority of Singapore (MAS) ushered in a new era for the Asian capital markets in February by issuing a consultation paper on the proposed regulation of over the counter (OTC) derivatives.
The Monetary Authority of Singapore's proposal to introduce rules for covered bond issuance would be positive for Singaporean banks if enacted, as issuing covered bonds would allow them to potentially diversify their funding base and lengthen their debt maturity profile, Fitch Ratings says.
With all the innovation in technology and business in and around Singapore, as well as new consumer behaviour, it’s sometimes difficult to separate what will shape the future of payments from what is just hype.
Last month, accountants and finance professionals from all over Singapore gathered at the ACRA Public Accountants’ Conference “Transitioning from Value Protection to Value Creation” to discuss the latest issues facing the profession.