With people with a global net worth of more than $1 million still actively participating in the immigration boom, Australia, the United Arab Emirates, the United States, Singapore, and several European countries have become popular destinations in the spotlight. New business and economic opportunities, high tax rates, political fluctuations, and an overall quality of life become typical reasons for wealthy people to emigrate.
Global Migration Trends for the Wealthy
In 2023, 383 U.S. residents with a net worth of more than $2 million chose to leave the U.S., and their destinations included Italy, Portugal, Greece, and other EU countries. At the same time, high-net-worth individuals from other countries are also choosing to move to the United States. It is worth noting that English-speaking countries are among the most suitable countries for the wealthy because they are easier to integrate into society.
Business and wealth management opportunities have also become important factors in determining immigration. For example, Switzerland and the United States, as major business and banking centers, attract high-net-worth individuals to move to where their assets are kept.
Popular immigration destinations
Australia is currently considered one of the best countries for the wealthy, mainly thanks to its points-based immigration system, which provides an advantage to skilled professionals, entrepreneurs, and the wealthy. Other attractive factors include low crime rates, well-developed healthcare and education systems, and the level of growth and development of the economy. Australia's tax system is also key to attracting high-net-worth individuals, with no inheritance tax despite a relatively high tax rate, as well as the environment, climate and low population density.
Among the top 10 countries in the world, countries with investment immigration programs dominate. In 2023, Australia is the country most attractive to millionaires, with the UAE coming in second and Singapore in third.
Singapore: The ideal business hub
As Asia's business hub, Singapore is known as a "land of opportunities" across the East and West. Key factors such as political stability, open business policies, skilled workforce, and advanced infrastructure make it highly regarded. Many international companies use Singapore as a base for doing business in Asia, attracting highly qualified workers, executives, and managers.
Top 10 reasons why wealthy people love to immigrate to Singapore
High quality of life: Singapore consistently ranks high in global quality of life surveys, based on personal safety, law and order, political stability, and sustainable economic growth.
Conducive Business Environment: As the second easiest place to do business in the world, Singapore's international** connections, attractive tax structure, investor program, advanced infrastructure and competitive workforce offer ideal conditions for businesses.
Robust Economy: As one of the most successful and developed economies in Asia and globally, Singapore stands out for its open economy and high GDP per capita.
State-of-the-art infrastructure: Singapore** continues to provide some of the world's most advanced infrastructure, including international** ports, public transport systems, and information and communication infrastructure.
Stable political environment: Among its neighbors, Singapore has one of the most stable political environments, attracting foreign investors.
Strong legal system: Singapore's judicial system is recognized as one of the most efficient in Asia, with strong anti-corruption laws enforced.
Highly Qualified Workforce: Singapore has a competitive and highly skilled workforce, attracting foreign employers to consider it as the global talent capital of Asia.
Attractive Tax Structure: With its attractive tax rates, tax relief measures, no capital gains tax policy and network of double taxation treaties, Singapore attracts investors and entrepreneurs.
Attractive Investor Program: Foreign investment policies encourage free entrepreneurship and have no restrictions on foreign ownership, attracting a large number of investors.
Great places to live, work, and visit: As one of the best Asian cities to live in for expats, Singapore offers a vibrant and multicultural lifestyle.
Singapore Express Immigration Entrepreneurship Self-Employed EP Program
Singapore's Self-Employed EP Employment Pass is one of the highest levels of work visas that allows applicants to set up a company in Singapore and act as the sole shareholder to sponsor their EP visa with the company. This project does not require long-term residency in Singapore, is more convenient than other methods, has relatively low conditions, and has a higher success rate.
Application Requirements:
Age between 21-55 years.
Bachelor's degree. More than 1 year of business or management experience.
The registered company has a fixed place of business and conducts business.
Registered capital of more than S$100,000 (the amount is customized according to the customer's situation).
This Express Immigration program provides an easy path to make it easier for the wealthy to start a business in Singapore and enjoy life in this city-state full of opportunities and vitality.