uh, no, some countries just ask one to invest money locally, and show that they are able to support themselves, but they don't need to hire locally or set up a company there. Another way (both options work for Hong Kong) is to set up a company and hire oneself as a director, than there is no much requirement regarding the amount invested, both the number of people hired locally or the turnover are lower that what's required in Singapore.Singapore also has a visa with lower $ requirement but the conditions seem pretty strict as well. Singapore doesn't seem to target retired succesful entrepreneurs at all for instance (not anymore at least), if they don't care about setting up a proper business and hiring several locals/PR card holders there. But anyone let me know if I got it wrong, I remember visiting Singapore only a few years ago and promoters on Sentosa Island were advertising residence permit for real estate investors in some of the new projects there, also there are still Singapore oriented funds where one can invest the 2.5 mil. In Dubai, as this thread is about Dubai and Singapore, it seems there is a low minimum investment and no hiring requirement when on sets up a company there and applies for a residence permit as the company's director.
Why would anyone move to Singapore or Dubai when for 1 million Euro bank account you can move to Monaco and enjoy the benefits of no income, capital gains or wealth tax plus a beautiful clean, safe city ( though both Singapore and Dubai are clean and safe) and fabulous climate to boot...
Monaco is way too small, the town will be getting on your nerves in a few months as it feels so constrained.
As well as Italy, there is no border checkpoint in Monaco, the traffic to get into town can be bad but the train is also a nice way to go around the area. Quite different from Gibraltar where the border checkpoint makes the city more claustrophobic imo. Dealmaker are you sure 1 million is enough to get the residence in Monaco ? it's peanuts compared to the networth of immigrants there - I checked a couple fo websites but they state one has to deposit money, without stating how much. But then again Monaco tax freedom doesn't work for french nationals.
Yes you are correct deal maker. You are only required to be resident for 3 months per year initially. There are no checks at all at the border and the Monaco authorities dont require proof of 3 months residency. Many people rent a small studio in Monaco for c. 1200 euros per month and live 'quietly' in France. The barriers to residency are much lower now. High earners can save a huge amount of tax.
Old Nice might be less expensive. Isn't the British healthcare care system moving into Portugal to turn it into their own retirement haven?
I was in Singapore for two years trading and doing some none- trading consulting work and left back to the US just this past Christmas to live here again. I liked the city - safe, clean, good nightlife and great restaurants...but the Chinese-Singa there have been getting more and more nationalistic and more and more anti foreigner... with stares, comments made out loud, pushing and elbows from the younger crowd, impossible to hail a cab if your white, poor office atmosphere for white Caucasians. The Malay and Indian-Singa are great and I spent most of my free time with them. I think I would live in Hong Kong (or even Bali) instead if I were to do it over again.