Skip to comments.Singapore's low tax rate an incentive for foreigners
Posted on 06/12/2013 11:30:36 PM PDT by TexGrill
Many of us have probably wondered about this - if I could work anywhere in the world, where would I choose?
Of course, there are many factors to consider.
In recent times, Singapore has emerged as a preferred destination among companies as well as foreigners looking to work in Asia.
But beyond the city-state's clean streets and strong job market, the financial incentive of a low tax rate is, for many, one of its biggest pull factors.
As part of our Taxing Times series running across BBC World this week, Mariko Oi reports from Singapore.
(Excerpt) Read more at bbc.co.uk ...
Singapore is a very beautiful city, clean and well-run.
It’s no surprise that people of wealth are drawn there from the polluted, overly political sh*t holes of the West.
It’s kind of the “Texas” of the East, nicht wehr?
I enjoyed visiting Singapore a few years ago.
I’ve always loved the place.
More like a police state. A well run and benevolent police state, but a police state nonetheless.
In December 2007, Rogers sold his mansion in New York City for about 16 million USD and moved to Singapore. Rogers claimed that he moved because now is a ground-breaking time for investment potential in Asian markets. Rogers's first daughter is now being tutored in Mandarin to prepare her for the future. He is quoted as saying: "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." In a CNBC interview with Maria Bartiromo broadcast on May 5, 2008, Rogers said that people in China are extremely motivated and driven, and he wants to be in that type of environment, so his daughters are motivated and driven. He also stated that this is how America and Europe used to be. He chose not to move to Chinese cities like Hong Kong or Shanghai due to the high levels of pollution causing potential health problems for his family; hence, he chose Singapore.
Rogers made F-U money as co-founder of the Quantum Fund (guess who the other founder was) and then traveled all over the world for recreation, first on a motorcycle and later in a custom-made Mercedes.
But it’s still better than the poorly-run police state of the USA.
Yes, it’s a bit pricey, but what nice place on Planet Earth isn’t?
You get what you pay for.