The Rising Tide of HNW Professionals in Singapore – Episode #14

by Richard Wilson on May 28, 2011

In Episode #14 Richard Wilson discusses the rising tide of wealth in Asia, on location from Singapore.  While in Asia to speak at a few conferences Richard learned about how extremely wealthy a few cities in Asia are and how only a handful of hubs contain the lions share (or merlions share for those of you in Singapore) of the wealth. (Download this Mp4 Video)

Video Transcript/Summary: A friendly business environment created with business friendly laws, a high standard of living, and a low tax environment is attracting business owners and wealth individuals of all types to the region.  Consider this:  There are more billionaires in Singapore than any other country in the world, and 1 in 25 people living in Singapore are millionaires.

There are more Ultra High Net Worth (UHNW) individuals in Asia now than there are High Net Worth (HNW) individuals in the United States.  In this video Richard encourages those watching to consider marketing their products or services to those in Asia or thinking about how the growing wealth in Asia could help grow their business.  Highlights of this episode include:

  • How wealth is flooding into the city of Singapore from all directions from all over the world.
  • How wealth management firms, single family offices, and multi-family office wealth management firms are attracted to Singapore due to the friendly business and tax environment.
  • How many times businesses in Singapore end up paying 50% or 30% of the taxes that most business owners are paying in large 1st world countries.

The video concludes with the fact that while there is no one standard way to take advantage of Singapore’s growth in the many types of businesses that exist, visiting the city, and thinking about your different products lines, services, and office locations may spark some new ideas.

Thanks for joining us, and I will see you again soon,

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