Singapore is a major international financial centre located in South East Asia. Its remarkable growth story since independence in 1965 is such that Singapore is now a major international player in financial services, shipping, banking, manufacturing, and research & development. Indeed Singapore is recognised as the world’s 4th leading financial centre and its port is one of the five busiest in the world.
Regularly voted as one the most business friendly jurisdictions in the world, Singapore is now seen as the most attractive base for Asian operations for many banks, hedge funds, and family offices.
Singapore’s ability to attract private and institutional investors is based on its ability to demonstrate key attributes:
• Common law legal framework;
• Excellent infrastructure;
• Economic, social and political stability;
• Corporate legal structure that is conducive to business;
• Geographical location;
• World class regulation;
• Tax treaties in place with many of its Asian neighbours, as well as internationally; and
• Attractive corporate tax rates.
The majority of the world’s major banks, legal firms, and financial ser vices professionals have a presence in Singapore, and many consider Singapore to be their Asia Pacific Head Office.
The Monetary Authority of Singapore (MAS) is the integrated regulator and supervisor of financial institutions in Singapore. Singapore has established strict and rigorous anti-money laundering regulations and is countering the financing of terrorism (AML/CFT) regimes through its comprehensive and sound legal, institutional, policy and supervisory framework. As a member of the Financial Action Task Force (FATF), Singapore also contributes actively towards international AML/CFT standard-setting discussions