Now, alongside established high-net-worth individuals , the program targets next-gen entrepreneurs, fast-growth company founders, and family office principals looking to secure permanent residency through meetingMr Lee, previous EDB senior vice president and now a partner at Kamet Capital, likens Singapore’s strategy to a beehive.
“By bringing them here early, their affinity with Singapore will naturally lead them to invest and grow here after establishing themselves, instead of going after them when they grow to MNC sizes.”Singapore to demand more information from family offices and hedge funds to better monitor the influx of foreign wealth
Mr Ng pointed out that family offices create jobs by hiring investment experts and generate revenue by engaging various service providers such as private banks, legal firms, custody services, fund administrators, and tax firms. He emphasised the value of attracting seasoned business leaders to mentor startups, citing the success of Doctor Anywhere under Kamet’s guidance as a prime example of mentorship and patient capital shaping Singapore’s startup landscape.stronger principals, stronger operators” are needed to support industry growth in the face of talent shortages.
Prime Minister Lawrence Wong highlighted the responsibility of wealthy residents to follow Singapore’s rules. “We want the wealthy who are here, to contribute to society do their part, pay their dues, and give back to the society.”