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.
(Bloomberg) -- Subscribe to Economics Each day for the newest information and evaluation. After cruising…
People are feeling more and more downbeat in regards to the financial outlook. Some Wall…
President Trump backed away from his threats to take away Federal Reserve Chair Jerome Powell.…
(Bloomberg) -- Federal worker pension advantages are set to be pared again in Republicans’ big…
Eric Thayer/Bloomberg by way of Getty Photos The U.S. GDP is anticipated to have grown…
By Francesco Canepa, Jan Strupczewski and Leika Kihara WASHINGTON (Reuters) -International policymakers gathering in Washington…