| Its legal framework and public policies are favourable towards foreign investors. Foreign investors are not required to enter into joint ventures with local institutions, and they are subject to the same basic laws as a local company. There are no restrictions on reinvestments or repatriation of earnings or capital. Singapore has a low tax regime that is attractive to investors and high net worth individuals. Since February 2008, the Inheritance Tax has been abolished, making Singapore an attractive place to build wealth. In May 2008, Barclays Wealth reported that 23% of Singapore residents have wealth in excess of US$1 million. By 2017, the percentage of residents in this category will rise to 40.7%, highest in the world. |