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Two months after Singapore closes its curtains on financial immigration, private banks heave a sigh of relief

Responding to voter ire over a foreign population that accounts for more than a third of its 5.2 million people and the resultant astronomical real estate prices, Sinagpore’s Monetary Authority of Singapore (MAS) decided to end its Financial Immigration Scheme (FIS). Extremely popular with wealthy individuals seeking permanent residence because of the city-state’s benign fiscal policies and stable political environment,…

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