As you can tell from the video below, due to changes around the world, and Asia Pacific, or uncertainty in Hong Kong in particular, Singapore remains and is even growing as a safe haven for rich immigrants to live in as well as do business and invest in.
However, despite the attractiveness and stability of Singapore, the real estate prices in Singapore is among the top three priciest places in the entire world, and there are also additional buyers’ stamp duties for foreigners, which is lower for citizens and permanent residents. In fact, that is also one of the reasons why some rich and notable immigrants to Singapore become a Singapore PR to avoid these unnecessary taxes legally. You will be surprised with how much you can save on ABSD taxes by becoming a Singapore PR first. You too, can become a Singapore PR to make use of this by applying ePR online, or you can also get help with applying for permanent residence for expats from a professional immigration agency in Singapore.
There are some countries, such as Switzerland, which have agreements with Singapore, which allows their citizens and permanent residents to not need to pay the ABSD when investing or buying Singapore’s real estate. If you belong to one of these rare few countries, then you can benefit from this. Otherwise, no big deal, just become a Singapore PR and reap all the benefits that it provides!
While ridiculous capital gains growth from investing in Singapore’s real estate is less likely nowadays due to the cooling measures by the local government as well as overall smarter market sentiment, if you look at the deals carefully, there are still good deals with stable prices you can get into.
Additionally, living in Singapore is also a great way to grow your wealth, as it also has very pro business policies and decently low taxes, and stable real estate is just icing on the cake! While direct capital gains from property may not be reaped as easily, it is still possible, and you also most definitely can reap tons of profits from doing business from Singapore and targeting the Asia Pacific region from here and run your headquarters here. In fact, billionaire entrepreneurs like James Dyson is also doing exactly so!