Disillusioned at home, super-rich Chinese set their sights on Singapore

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SINGAPORE — Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth.

He's hoping that studying at a university in the Asian financial hub will lead to permanent residency and while the 26-year-old hits the books, his wife is out looking for a S$5-7 million penthouse.

Several Chinese attendees said they had recently relocated to Singapore or were thinking of doing so. That disenchantment propelled Mr Zhang, who gained Hong Kong residency in 2021, to look at Singapore. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year.

Many are parents looking to obtain permanent residency for their children, he said, noting enquiries also came from Japanese and Malaysian potential clients in addition to Chinese.

Source: Education Headlines (educationheadlines.net)

 

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