The growth of Chinese family offices has been slowing in the city state amid tighter checks on new applicants. Elevated property prices and higher stamp duty aren’t helping either.
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Some foreign high-net-worth individuals may rent first, apply for permanent residency, then buy a property to get lower additional buyer’s stamp duty rates, say observers.
Singapore is seeing an influx of ultra-wealthy families from China looking to protect their wealth from a Communist Party that increasingly views them with suspicion.
Singapore is seeing an influx of ultra-wealthy families from China looking to protect their wealth from a Communist Party that increasingly views them with suspicion.Beijing’s recent crackdowns on tech billionaires and tax-shy celebrities, as.