Well established as a premier Asian financial hub, Singapore offers a secure environment from which individuals can manage their personal wealth. The country has an impressive record of political stability and stringent client confidentiality laws comparable to those of Switzerland. The banking industry is strictly regulated to the highest international standards.

The tax regime is also favourable, with no tax on interest and capital gains for non-residents. There are no tax or other barriers to the free entry and repatriation of funds. Its legal system - based on English common law and recognised as the most efficient in Asia - is an additional advantage.

Singapore is also home to a vibrant stock exchange, the world's fourth largest foreign exchange centre, and more than 700 international banks and other financial institutions. The Singapore government actively promotes free enterprise and is pursuing the asset management industry as a key initiative of national development.

Over the years, Singapore's robust economic and financial fundamentals, favourable regulatory and business environment, strategic location, skilled and educated workforce, well-developed telecommunications and infrastructure and high living standards have attracted numerous leading international financial institutions to set up operations in Singapore. These reputable institutions have contributed to the vibrancy and sophistication of Singapore's financial industry. Financial Services account for 11% of Singapore's GDP.