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Singapore private wealth: too fast too soon?

Estate or matrimonial litigation may be sending a message to high net worth individuals that they need to organise their affairs, says Marcus Hinkley

11 February 2014

Wealth planning in Singapore has blossomed since 2002. Helped by the growing high net worth class in Asia, many predict it will be in the top three jurisdictions within five years.

Private banking has benefited from this trend, Singapore's sound legal and regulatory framework coupled with a pro-business and tax-friendly environment for high net worth individuals (HNWIs) being a catalyst.

The wealth structuring industry, led by international trust companies, lawyers and wealth planners, offering services around products such as trusts, offshore holding companies, have also benefited with a consequent steady rise in applications for trust licences issued by the Monetary Authority of Singapore and licences granted for foreign law firms by the Attorney General's office. The influx of int...

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