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Four of the 10 richest Singaporeans are expats saving millions in taxes
Facebook co-founder Eduardo Saverin famously renounced his US citizenship in favor of Singapore before the social network’s initial public offering made him a billionaire. Born in Brazil before immigrating to the US, Saverin is the second-richest Singaporean, with a net worth of $4.2 billion—and he is joined by three other expats on the list of the 10 wealthiest people in the city-state, released today by the research firm Wealth-X. Moving to Singapore has allowed Saverin and his peers to reduce their tax bills: Singapore has no capital gains tax and offers a much lower individual tax rate than Western countries, ... (full story)
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anytime1991
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