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Why Wall Streeters Are Packing Up In Droves And Moving To Singapore
Business Insider ^ | 06/12/2012 | Carrie Hojnicki

Posted on 06/12/2012 6:43:43 AM PDT by SeekAndFind

Bankers have always been a worldly crew, and since Facebook co-founder Eduardo Saverin renounced his U.S. citizenship and moved to Singapore, we've thought that island deserved our attention.

So we started digging and we found out that bankers are heading there in droves. In a recent Telegraph survey Singapore dominated a list of places that bankers said they wanted to work, with 27% of the vote it even beat out NYC.

Boston Consulting Group recently named Singapore the country with the world's densest population of millionaires -- 17 percent of all households, to be exact.

It's no surprise then that Singapore has become a veritable playground for the richest of the rich. If you've got the dough (and we mean serious dough) then there's plenty of room for you to play (and work) too.

Singapore is the best country in the world for doing business, according to a report released earlier this year by the World Bank. Here's why:

It takes, on average, three days to open a business. Trade is open and competitive: there are no tariffs on imports and foreign and domestic business are regulated equally.

Unemployment is only 2.1%

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: citizenship; singapore; wallstreet
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1 posted on 06/12/2012 6:43:53 AM PDT by SeekAndFind
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To: SeekAndFind

But there is virtually no personal freedom there. You can be heavily fined for being in possession of chewing gum. And possession of even the smallest amount of narcotics brings an automatic death penalty. They may be prosperous, but I suspect a whole lot of these folks will not enjoy life there.


2 posted on 06/12/2012 6:45:48 AM PDT by Buckeye McFrog
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To: SeekAndFind

I just hope these guys know that if they drop a piece of chewing gum on the sidewalk, they’ll be jailed and flogged. This doesn’t happen on the streets of lower Manhattan!


3 posted on 06/12/2012 6:46:48 AM PDT by miss marmelstein
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To: SeekAndFind

But the growing income disparity is unacceptable. Those fat cats need to be taxed.


4 posted on 06/12/2012 6:46:59 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: Buckeye McFrog

Throwing trash on the ground [including chewing gum] is the punishable offense. Being in possession of chewing gum is no problem. Not that this is much better... just sayin’...


5 posted on 06/12/2012 6:48:45 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: Buckeye McFrog
They may be prosperous, but I suspect a whole lot of these folks will not enjoy life there.

As soon as the SHTF there they will have Uncle Sam and the taxpayers/US military bailing them out.

6 posted on 06/12/2012 6:49:43 AM PDT by trailhkr1 (All you need to know about Zimmerman, innocent = riots, manslaughter = riots, guilty = riots)
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To: miss marmelstein
I just hope these guys know that if they drop a piece of chewing gum on the sidewalk, they’ll be jailed and flogged. This doesn’t happen on the streets of lower Manhattan!

Yeah but they'll be able to have a Big Gulp Dr. Pepper!

7 posted on 06/12/2012 6:49:49 AM PDT by COBOL2Java (FUMR)
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To: Principled

Good luck.

The world is gradually (no scratch that, rapidly) becoming blatantly anti-white.

Anti-white.

Forget all the biases built into (our) system. Every other system around the world is different and opposite. Without any of our nonsense. Without any biases for whiteness.

We’re it.

It is time now, for our side to get over the biases and start moving forward.

Now.


8 posted on 06/12/2012 6:50:55 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: Principled

They wont let you pee on the lifts either.


9 posted on 06/12/2012 6:52:17 AM PDT by skeeter
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To: COBOL2Java

True, true, true, lol!


10 posted on 06/12/2012 6:53:46 AM PDT by miss marmelstein
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To: COBOL2Java
Yeah but they'll be able to have a Big Gulp Dr. Pepper!

Yep......and a cigarette.

11 posted on 06/12/2012 6:54:52 AM PDT by Right Brother
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To: Buckeye McFrog
But there is virtually no personal freedom there.

I've been there half a dozen times and loved the place.

12 posted on 06/12/2012 6:54:59 AM PDT by Doofer (Still, a man hears what he wants to hear and disregards the rest.)
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To: Doofer

You love the place, as a place representing what it does.

Once the PRC becomes the dominant player, things will change there.

Bigtime.


13 posted on 06/12/2012 6:56:19 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: miss marmelstein

I’m guessing these guys don’t walk much, much less drop gum on the sidewalk.


14 posted on 06/12/2012 6:56:43 AM PDT by stuartcr ("When silence speaks, it speaks only to those that have already decided what they want to hear.")
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To: Principled

Can you take up citizenship in Singapore and then just live in Paris? Or buy a house in the USA and live here for most of the year?


15 posted on 06/12/2012 6:57:01 AM PDT by miss marmelstein
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To: Doofer

I like it too Doofer. Great place.

Now, I don’t know what it’s like to be a resident. But it seems fine if you have work - except for the driving. That part skeered me.


16 posted on 06/12/2012 6:58:30 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: skeeter

Or even on the elevators either ;)


17 posted on 06/12/2012 6:59:05 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: stuartcr

Believe me, Wall St. guys not only walk, they run. They run around in the Stock Exchange and jog through the streets of Manhattan. Everyone in NYC walks. And everyone chews gum, cracks it, and sometimes blow bubbles.


18 posted on 06/12/2012 6:59:19 AM PDT by miss marmelstein
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To: Doofer

I had a two-year assignment there and loved the place. There’s an awful lot of contempt here about bankers going to Singapore.


19 posted on 06/12/2012 7:00:01 AM PDT by Zuben Elgenubi
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To: Cringing Negativism Network

You clearly have never been to Hong Kong either, and know nothing about how or why the PRC leaves them to rule themselves.


20 posted on 06/12/2012 7:00:10 AM PDT by Teacher317 ('Tis time to fear when tyrants seem to kiss.)
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To: Buckeye McFrog
But there is virtually no personal freedom there. You can be heavily fined for being in possession of chewing gum. And possession of even the smallest amount of narcotics brings an automatic death penalty. They may be prosperous, but I suspect a whole lot of these folks will not enjoy life there.

Singapore is clean, well-run, absolutely safe and secure (partially thanks to strict drugs policy) relatively cheap compared to other Asian cities, has great travel links to go elsewhere quickly, and respects contracts and follows the rule of law. Its people are smart, polite, moderate and behave in public. It is, of course, low tax as well. Political correctness does NOT rule in Singapore, as it does in New York. Socialists are generally not welcome.

Unless you want to do drugs or advocate aggressively against the ruling Party in Singapore, you are absolutely free to do what you want, as in other places. It would not be a bad option when faced with NY crime, Bloomberg, and Obama as the other choice.

21 posted on 06/12/2012 7:01:02 AM PDT by PGR88
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To: miss marmelstein

I don’t know miss marmelstein.... I don’t know.


22 posted on 06/12/2012 7:01:23 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: miss marmelstein

They won’t be in NYC. The humudity in Singapore is incredible. They’ll probably be in vehicles.


23 posted on 06/12/2012 7:02:36 AM PDT by stuartcr ("When silence speaks, it speaks only to those that have already decided what they want to hear.")
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To: Right Brother

Actually, in NYC, you can still smoke - on the streets but not in offices or private clubs, for that matter. The streets of NYC are loaded with office workers, taking a break on the sidewalk, with their coffin nails. I give them 2 thumbs up when I walk by.


24 posted on 06/12/2012 7:03:14 AM PDT by miss marmelstein
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To: Teacher317

Actually I have.

The thing we all lose site of is, it is CHINA not Hongkong which is winning.

China.

China is becoming the next big country. Not Singapore. Not Hongkong. Not Japan, or Korea.

China. With 1.3 billion people. China.

That is what we all pretend we do not see.

China.


25 posted on 06/12/2012 7:03:43 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: PGR88

All of what you say is true, but I would never move there, for the same reason I could never live for any length of time in Hawaii - too confining.


26 posted on 06/12/2012 7:05:27 AM PDT by skeeter
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To: PGR88

The airport in Atl for example... TSA for one, long lines, and hassles w/ long lines and random searches coming in from overseas.

Singapore? Not even a line. Just go. Only those who they suspect are pulled aside. I have not EVER had to wait in a line at customs there. Not once. Just walk up, show passport, and continue. Nice people. But, I’m not smuggling.

I think they use a tactic similar to the Israelis ... they just look really hard [from behind a mirror] and they ask questions if they have a hunch - irrespective of religion/race/etc. And they’re good apparently.

In LA, my wife and family were apparently randomly selected for full searches [kids too] and ALL luggage once upon return [from Japan.] We missed our connection. Load of crap I say.


27 posted on 06/12/2012 7:07:26 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: Buckeye McFrog

Money talks no matter the language.


28 posted on 06/12/2012 7:07:36 AM PDT by drypowder
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To: Zuben Elgenubi

Not contempt! I understand completely why these wealthy people are checking out of the United States. My point is that louche New Yorkers need to be thoroughly aware of the different culture. They often are the most parochial, provincial people on earth. I would say the same thing if they were all moving to London.


29 posted on 06/12/2012 7:07:47 AM PDT by miss marmelstein
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To: SeekAndFind

-—Unemployment is only 2.1%——

It’s sad to think about the vast, unnecessary waste of human potential in our country, due to socialist policies.


30 posted on 06/12/2012 7:09:25 AM PDT by St_Thomas_Aquinas (Viva Christo Rey!)
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To: miss marmelstein
Yes, you can. However, the ESSR (that's the European Union, for those in Rio Linda) has very stringent rules about non-visa holders, i.e. tourists, which you would be classed, staying in France, or generally anywhere else in the ESSR, for long consecutive periods.

Get a copy of Bob Bauman's "The Passport Book" for all the pertinent rules.

31 posted on 06/12/2012 7:09:54 AM PDT by SAJ (What is the next tagline some overweening mod will censor?)
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To: SeekAndFind

Hmm! Is that why Obama is training Singaporean naval officers and civilian Singaporean ministry of defense officials at the Naval Postgraduate school? To protect the bankers?


32 posted on 06/12/2012 7:12:29 AM PDT by hedgetrimmer
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To: SeekAndFind
Why Wall Streeters Are Packing Up In Droves And Moving To Singapore

IN a word, MONEY! Or capital if you prefer...

33 posted on 06/12/2012 7:12:50 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: SeekAndFind

I spent a week in Singapore a few years ago, and thoroughly enjoyed it.


34 posted on 06/12/2012 7:14:39 AM PDT by crosshairs
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To: SAJ

Sounds complicated! But thanks for the info. Unfortunately, I’m not wealthy enough to move to either Singapore or Paris.


35 posted on 06/12/2012 7:15:09 AM PDT by miss marmelstein
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To: PGR88
Unless you want to do drugs or advocate aggressively against the ruling Party in Singapore, you are absolutely free to do what you want, as in other places.

Looks that way. As long as you have money, stay away from politics, don't do drugs, and don't commit crime, you should be OK. Another plus for guys, is that feminists are upset about the lack of government interest there regarding sexual harassment.

36 posted on 06/12/2012 7:18:09 AM PDT by PapaBear3625 (If I can't be persuasive, I at least hope to be fun.)
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To: Cringing Negativism Network
Well, under the "PRC", its easier to open a business in Hong Kong than it is in the United States (Stossel did an expose on it). I've been to Singapore and the place is beautiful and from what I experienced, much, much more was available there than in the United States.

I have a serious question for you, do you actually believe you are "free" in America anymore?

37 posted on 06/12/2012 7:21:17 AM PDT by Michael Barnes (Obamaa+ Downgrade)
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To: Michael Barnes

Yes I do.

Where are you, asking that from?

(I’m in California)


38 posted on 06/12/2012 7:23:17 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: miss marmelstein

RE: I just hope these guys know that if they drop a piece of chewing gum on the sidewalk, they’ll be jailed and flogged.

___________________________

The ban has been LIFTED partially, to allow the sale of chewing gum considered to have health benefits. This includes products such as dental-health gum, and nicotine gum to assist people who want to quit smoking.

These chewing gums can only be sold in pharmacies, and consumers must provide name and ID. Pharmacists who sell the gum without collecting the required information can be fined up to $2,940 USD and jailed for two years.


39 posted on 06/12/2012 7:26:52 AM PDT by SeekAndFind (bOTRT)
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To: miss marmelstein

RE: I just hope these guys know that if they drop a piece of chewing gum on the sidewalk, they’ll be jailed and flogged.

___________________________

The ban has been LIFTED partially, to allow the sale of chewing gum considered to have health benefits. This includes products such as dental-health gum, and nicotine gum to assist people who want to quit smoking.

These chewing gums can only be sold in pharmacies, and consumers must provide name and ID. Pharmacists who sell the gum without collecting the required information can be fined up to $2,940 USD and jailed for two years.


40 posted on 06/12/2012 7:26:55 AM PDT by SeekAndFind (bOTRT)
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To: miss marmelstein

RE: Chewing gum

BTW, there is the law, and there is reality.

Chewing gum is not a crime in Singapore (just as illegal parking is not a crime in the USA), and neither is possession of gum for personal use.

You cannot bring in large quantities of gum to Singapore (it would be assumed you were selling it, which is a crime).

You cannot spit your gum out on the street or stick it under the seat on the bus (this is common sense, people).

In any case, IN PRACTICE, you don’t go to jail for any offense related to gum (unless you kill someone with it). Generally, there is just a fine.


41 posted on 06/12/2012 7:29:50 AM PDT by SeekAndFind (bOTRT)
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To: miss marmelstein

RE: Chewing gum

BTW, there is the law, and there is reality.

Chewing gum is not a crime in Singapore (just as illegal parking is not a crime in the USA), and neither is possession of gum for personal use.

You cannot bring in large quantities of gum to Singapore (it would be assumed you were selling it, which is a crime).

You cannot spit your gum out on the street or stick it under the seat on the bus (this is common sense, people).

In any case, IN PRACTICE, you don’t go to jail for any offense related to gum (unless you kill someone with it). Generally, there is just a fine.


42 posted on 06/12/2012 7:29:50 AM PDT by SeekAndFind (bOTRT)
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To: miss marmelstein
The lack of freedom is Singapore is horrendous. No freedom to litter. No freedom to deface private or public property. No freedom to piss on the streets. No freedom to make an ass of yourself in a public place. No freedom to use drugs of your choice. No freedom of public drunkenness. I'll bet there is also no freedom of public lewdness or fornication. It is truly a hell hole for practicing leftists.
43 posted on 06/12/2012 7:30:45 AM PDT by trubolotta
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To: SeekAndFind

Singapore is a very nice country and miles ahead of most of Asia except maybe Japan. I have family which has lived there for 15 years.


44 posted on 06/12/2012 7:31:39 AM PDT by Zathras
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To: Buckeye McFrog

BTW, I have been to Singapore MANY times and even can immitate the way they speak English very well ( with the inevitable “LA” at the end of sentences ).

Regarding fines, yes, You CAN be fined.

But just as there are laws in any country which exist but are rarely enforced, many of the laws in Singapore for minor offenses are not enforced either.

Not flushing the toilet after you use it is a fineable offense, but since most toilets in Singapore flush themselves after someone uses it (thank you, infrared sensors), this is rarely a problem anymore.

Spitting on the street can get you fined $200, but I have yet to see this one enforced either, although I have been a primary witness to some rather nasty things being spit out.


45 posted on 06/12/2012 7:33:15 AM PDT by SeekAndFind (bOTRT)
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To: miss marmelstein
I just hope these guys know that if they drop a piece of chewing gum on the sidewalk, they’ll be jailed and flogged

Chewing gum in line, eh?

46 posted on 06/12/2012 7:33:46 AM PDT by dfwgator
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To: trubolotta
The lack of freedom is Singapore is horrendous. No freedom to litter. No freedom to deface private or public property. No freedom to piss on the streets. No freedom to make an ass of yourself in a public place. No freedom to use drugs of your choice. No freedom of public drunkenness. I'll bet there is also no freedom of public lewdness or fornication.

No freedom to walk into a deli and urinate on the cheese.

47 posted on 06/12/2012 7:35:54 AM PDT by dfwgator
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To: dfwgator

Thanks! Any excuse to watch the great Harvey Korman!


48 posted on 06/12/2012 7:36:16 AM PDT by miss marmelstein
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To: Principled

Either use a sarc tag or you will be called a socialist pig.


49 posted on 06/12/2012 7:36:56 AM PDT by impimp
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To: impimp

Sadly, I think you may be right.

There are so many newbie types posting these days ... most of them here to attempt to demoralize.

Thanks FRiend.


50 posted on 06/12/2012 7:41:17 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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