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Monthly Archives: April 2012

Wealthy foreigners can’t ‘buy’ PR status anymore in S’pore

SINGAPORE: The Monetary Authority of Singapore (MAS) will roll up and put away one red carpet for rich foreigners aiming for permanent residence (PR) here, amid criticism of the influx of immigrants and its impact on asset prices, sources have told BT.

Wealthy foreigners who want their PR application expedited will now have to apply under a different scheme for well-heeled entrepreneurs from abroad who invest in businesses here.

The first programme, known as the Financial Investor Scheme (FIS), will be scrapped by the end of this month, sources told BT. MAS later confirmed that it is putting an end to the scheme.

Since 2004, FIS has allowed high net worth individuals from overseas with net personal assets of S$20mil (US$16mil) and at least S$10mil of assets held in Singapore for five years to get onto a fast track and apply for PR status through private banks or other financial institutions via MAS.

The minimum sum of S$10mil was already doubled in 2010 from S$5mil, as part of the government’s move to curb the flow of immigrants.

via Wealthy foreigners can’t ‘buy’ PR status anymore in S’pore.

My Takeaways from this story:

1- High worth individuals worth USD 16,000,000,000 or more are trying to settle down in Singapore.

2- They have to transfer about USD 8 Million Cash to Singapore.

3- Even with this huge amount of investment they have to wait 12 months to get approved by Singapore Govt.

4- Despite all that, the Singaporian government is saying, “no thanks, this window is closed.”

 

 

 

 

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Posted by on April 17, 2012 in Uncategorized

 

Rani Taj – Rude Boy – The Most Watched Dhol Video in the World – YouTube

Rani Taj – Rude Boy – The Most Watched Dhol Video in the World – YouTube.

 

 
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Posted by on April 8, 2012 in money, music

 

Top Turkish imam raps Saudi view on Arabia churches

PARIS Reuters – Turkeys top Muslim cleric has stepped into an international row over Christianity on the Arabian Peninsula, rejecting comments attributed to the Saudi grand mufti that all churches there should be destroyed.

Mehmet Gormez, head of the Religious Affairs Directorate in Ankara, told a Turkish newspaper that Islam respected the rights of other faiths and calls for the destruction of churches went against centuries of tolerance.Reports that Saudi Grand Mufti Sheikh Abdulaziz Al al-Shaikh had issued a fatwa, or religious order, against churches last month prompted protests from Christian bishops in Austria, Germany and Russia and provoked a storm on Christian websites around the world.

via Top Turkish imam raps Saudi view on Arabia churches.

 
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Posted by on April 7, 2012 in think, trends

 

Why Invest in Asia!!

Six centuries ago, when London and Paris were irrelevant, plague-infested backwaters, and New York City wasn’t even on the map, the greatest city in the world was Nanjing– the capital of the Great Ming.

At the time, Nanjing was not only the most populous city on the planet, it was also the pinnacle of civilization. Art, science, technology, and commerce flourished in the Ming Dynasty’s liberalized economy, which constituted a full 31% of global GDP at the time.

(By comparison, the US economy is roughly 25% of global GDP today…)

via Sovereign Man: Offshore Business, Global Opportunities, Freedom, and Expat News.

 
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Posted by on April 4, 2012 in business, economy

 
 
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