Singapore Will Replace Switzerland as Wealth Capital

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Thanks in part to its generous tax regime, Singapore has been a millionaire haven for years. But a new report says the tiny island state may soon overtake Switzerland as the world’s largest offshore wealth hub.

The report, by WealthInsight, a London-based research firm, says Singapore is the fastest growing wealth center in the world, with $550 billion in assets under management – up from $50 billion in 2000. About $450 billion of that is offshore.

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