Singapore remains amongst the top places for investors seeking wealth management services outside of their home country. Here are the top reasons why this is so:
Singapore has maintained a stable political economy over the years
Financial wealth need a safe and positive environment in order to thrive. It is difficult to maintain banking efficiency in times of constant political turmoil and poor economic outlook. As a result, individuals from countries experiencing internal instability would look towards safer havens like Singapore to park their wealth. Ranked first on the global Political Stability Index[1], Singapore is a top choice for affluent individuals seeking to diversify their wealth internationally.
Singapore is an established international banking hub
Despite being a small city state, there are more 100 local and international banks and financial institutions in Singapore, managing more than S$2.7 trillion in Assets Under Management (AUM) in 2017[2]. What this means for investors, is that they are spoiled with a wide range of financial services for their respective needs. On top of that, investors can expect to benefit from the knowledge and expertise of the experienced bankers for their portfolio growth.
Robust digital banking infrastructure is in place in Singapore
If you are opening a bank account outside of your home country, you would be looking for a bank with a robust digital banking platform to support your needs, especially since you are not physically located in that country. Being a technology-driven financial services sector in Singapore, banks provide enhanced digital banking platforms for clients.
The reason why so many people choose to park their wealth in Singapore is because it provides them with a sense of financial safety.
If you have an interest to invest in Singapore and have at least US$200,000 investible funds for a meaningful wealth portfolio diversification, you may wish to consider Citibank International Personal Bank. Click here to find out more.
[1] The World Bank Political Stability Index, 2016
[2] Straits Times
