SINGAPORE (Reuters) – The variety of single household workplaces in Singapore grew to 2,000 in 2024, the deputy chairman of the town state’s central financial institution, Chee Hong Tat, mentioned on Tuesday.
That is up from a determine of 1,650 Chee shared in September final yr.
Singapore has benefited from robust inflows of wealth into Asia because of insurance policies beneficial for establishing household workplaces and trusts, low taxes and its location as a gateway to the rising Southeast Asian markets.
Single household workplaces are one-stop corporations that handle the funds of the very rich.
“There will probably be, I feel, extra curiosity from traders to have a look at Singapore as a key node and hub in Asia,” Chee mentioned in a session on the UBS Asia Wealth Discussion board convention in Singapore.
“We need to see how we are able to provide larger number of funding choices, together with for individuals who need to put their wealth right here additionally to develop their wealth,” he added.
A single ticket-holder might win the largest lottery prize the UK has ever seen in…
Elon Musk posted in February that he liked his president, patron and private buddy, "as…
The US economic system noticed a slowdown in hiring however no leap in unemployment final…
Directors are on standby to deal with the collapse of the UK arm of Builder.ai,…
The proprietor of SlimFast has kicked off a sale of the burden loss model after…
A former McKinsey boss is among the many candidates being thought-about to interchange Sir Mark…