Singapore: 40% of NRIs wish to retire in city-state
Source: Asia Insurance Review | Jun 2015
While 58% of the Indian expatriates currently living or working in Singapore are planning to retire in India, interestingly, approximately 40% of the surveyed Non-Resident Indians (NRIs) have indicated that they wish to retire in Singapore which alludes to Singapore’s reputation as Asia’s best city for expatriates, said Mr Chris Gill, General Manager for Southeast Asia at Friends Provident International (FPI).
Navigating the different tax regimes when retiring in either country can be a challenge. As a result, FPI rolled out its new proposition to Non-Resident Indians (NRIs) in Singapore to meet their financial planning needs. The launch of the new NRI proposition in May was another addition to its global launch of British and Australian expatriates’ customer-focused proposition in April.
Like the British and Australian expatriate proposition launch, FPI will introduce knowledge packs specially tailored to NRI’s financial planning needs, sharing its insights and expert support for their financial decision-making.
“With the new knowledge pack, our business partners will be in a better position to provide the right professional advice for NRIs,” said Mr Gill.