The MAS in Singapore is - almost like a commercial organisation - advertising the country as a financial hub and welcoming Family Offices as this statement shows:
“As
an established financial hub, Singapore will continue to grow opportunities for
wealth management and support the evolving needs of family offices…we also
believe that the best legacy that those with greater means can leave behind is
a positive impact on society.”
Indeed the best legacy the wealthy can leave is a positive
impact on society. Question is of course if that purpose is not better served
by taxing the wealthy and have governments decide on what’s best for society…
More can be read here - https://www.mas.gov.sg/development/wealth-management
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