Singapore Cuts Wait Time for Rich People Seeking to Set Up

Singapore’s financial regulator is shortening the waiting time for wealthy people seeking to manage assets in the Asian wealth hub, a senior official said Wednesday.

Family offices applying for tax incentives in the city-state now need to wait up to three months versus 12 months previously, Deputy Chairman Chee Hong Tat of the Monetary Authority of Singapore told reporters. The MAS is also working with private banks to help their clients open accounts faster.