The real estate consultancy Knight-Frank maintains a Global Cities index that ranks cities based on how much they appeal to the wealthy. It puts Singapore third, behind only London and New York, and predicts that it will keep a high position all the way to 2024.
Western countries might have to change their tune on taxation if they care to keep their wealthiest citizens. Legislation signed into law in the US last year increased both the income tax and capital gains tax for the richest Americans. French president Francois Hollande has backpedalled on his 75% “millionaire tax,” saying that it was “too heavy,” but it remains in place.
So unless those rates change, Singapore can probably expect a continued influx of expat billionaires.
https://qz.com/232086/four-of-the-10-richest-singaporeans-are-expats-saving-millions-in-taxes/
