There is a tenfold of brokerage firms and facilities which usually offer private banking services to that they can provide protection and securities of investment. They would do this by giving an advice and by lending opportunities most especially for wealthy customers. Most of these offices are the services mentioned.
The creation of offshore accounts is one of the services offered to wealthy customers. This is the best when it comes to increasing the privacy and asset protection of the client. Investment opportunities and tax advice may also be discussed here.
Indeed, those who are financially able will get a lot of banking in Singapore. What else may be expected from the whole endeavor?
Should You Bank in Singapore?
This is the question asked by those who are not yet sure. There are reasons why one must consider doing so. Here are some of them:
Friendly Treatment to Investors
For the past couple of years in Singapore, the country has been working its way to promote and develop the island which is considered as an offshore financial center. As a matter of fact, Singapore is considered to be in the global offshore of the banking industry. It is friendly to most investors when it comes to the regulatory environment and legal system.
It is known as a fact that Singapore has triumphantly wooed the private market. This is proven by the number of non-Asian financial institutions that established their offices in Singapore. Among the examples of these are the HSBC Republic, the Credit Suisse, and the Societe Generale Private Banking. These are all growing in the mentioned country.
Economic Stability and Growth
Singapore is dubbed to the be the center for commerce, finance, and business in South East Asia. This status has a big contribution to the economic growth and stability of the country. Indeed, Singapore is the home for various private divisions and firms out there. This is true as for a ton of global banks out there.
Furthermore, the private investing sector of Singapore is also fast growing. This is true most especially in the city. As a matter of fact, it is now called the “Wealth Management Institute.” This is meant for graduating professionals out there who are trained to handle the challenges involved in modern private banking.
Multi-Service Private Banks
The banks normally give off personal and financial services to a wide range of issues. These are all schemed to serve those who have stable assets. When it comes to traditional banking services including credit and debt facilities, loans, and mortgages, the staffs are usually qualified to be of assistance with the estate planning. Even the protection of income and personal tax can be highly practiced here.
Among the other services typically offered in the private banks of Singapore are internet banking, wire transfer services, fund management, trustee services, credit and trade finance letters, corporate administration and foreign exchange. Many of these Singaporean institutions are dubbed as efficient. They are effective when it comes to giving their services. They are always in courteous style and manner that enable their staff to deliver services for as much as they can.