"Singapore is about to take off, but I can't take this gust of wind." A few days ago, I received a farewell text message from my friend on the way to the airport.
This friend graduated from a famous Chinese school and was a new technology. A few years ago, he sold the equity of technology companies, cash out tens of millions of dollars, and lived with the family to live in Singapore. He has always lived carefree.But recently, he said that this exquisite garden city has become more and more crowded, more expensive, and the price of private apartments and car certificates, purchasing 60%of the additional buyer's print duty in real estate ... In addition, bank hukouDifficult to open, difficult to invite employees, work permits, and permanent residents are getting difficult to get. The number of children studying in international schools is far away, which completely annihilates the desire to live and work here for a long time.
Before the epidemic, Singapore is committed to promoting emerging industries, and its superior policies have attracted many investors and practitioners around the world, including asset management talents, blockchain, venture capital talents and financial technology industries.Because of the beautiful transcripts in government governance, people and money continued to flow in.However, starting from the third quarter of last year, cryptocurrencies, fintech technology, venture capital industry, Internet technology and other companies have entered a stage of large contraction. In addition, the local living costs and high entrepreneurial costs have caused many of them, many of them,I started to have the idea of leaving.
Some people may say that there is no shortage of money or lack of people here, and what we want is just a super rich.Although the names of many international tycoons are related to Singapore, the reality is that even if they already have Singaporean citizenship or permanent residence identity, they may not have lived in the local area because of various factors.If they do not live enough time to live in the local area, they do not belong to Singapore's tax residents, or they do not have actual investment and business in Singapore. If they want to collect the so -called "rich tax", they are completely talked about soldiers.Instead, creating an ecosystem among high -net -worth individuals is more conducive to long -term development.
Singapore is the fourth largest exporter of high -tech products in the world, including aerospace, semiconductors, biochemical technology, fintech, and so on. The development of these fields is inseparable from people and funds.The high -paying structure of Hong Kong professionals is very competitive worldwide. It is currently promoted to the "High -end Talent Pass Plan" internationally internationally.
Thanks to the implementation of policies such as family offices, the funds flowing into the Singapore secondary market investment portfolio last year were five times that of Hong Kong.Even so, the scale of Hong Kong's total asset management with a total amount of US $ 4.6 trillion (about S $ 6.1 trillion) is still slightly larger than Singapore's current level close to 4 trillion US dollars.In March of this year, the Hong Kong government issued the policy declaration of Hong Kong's family office business, and considered asset investment allowed assets to be priced at RMB.The funds beckoned.
We cannot regard the inflows of funds and talents in the past two years as a matter of course. Policy regulatory agencies need to have more awareness of anxiety and start more dialogues with private banks and asset management institutions to conform to the change of the times.Singapore's status as a global wealth management center and international city is not easy. Do not have a lot of money to be labeled with the label of "difficult to open, money difficulty, and difficult to stay" in the near future.
Any international city is a full free flow of funds, talents and technology.However, in the upgraded version of globalization, only business conditions are eternal, and talents and funds are like migratory birds.
After the epidemic, everything is restored to normal. Singapore is weakening with the normalization of major financial centers because of the opportunities and gold absorption brought by this epidemic.The Bund of Manhattan in New York, Central in Hong Kong, and Shanghai, are preparing to have a longer and short -term field in the most cutting -edge field. We are better to be complacent and more ahead.
(The author is the managing director of Singapore's private bank (Greater China and North Asia), this article only represents personal positions)
