Singapore the Preferred Destination for People With Portable Wealth

Seen as a stable, safe haven, unlike ... well, you know


Singapore, that mystical island country-city combination off the southern tip of the Malay Peninsula in southeast asia, once again is winning headlines. This time as the preferred permanent residence location by the world's rich and famous whose business and social lives are made up mostly of travel to and from countries other than Singapore.

They are now being called the new mobile millionaires.

RBC Wealth Management, part of Toronto-based Royal Bank of Canada, and EIU, a London-based unit of The Economist Group, surveyed 558 individuals who have at least $1 million of investable assets through June to October.

Singapore beat out Hong Kong for the honors. Seventy-five percent of those surveyed picked Singapore; 25 percent chose Hong Kong.