I alluded to the setting up of family offices in S'pore many times on this forum. I guess you did not notice any of those postings. The PAP continues to welcome ultra rich foreigners to park their money - even if a significant portion are ill-gotten gains - in S'pore. These investors are fast tracked to citizenship, allowing them to purchase freehold land which is scarce here, thereby driving up property prices and rental. The ultra wealthy also buy fleets of cars, pricing COE premiums out of the reach of the middle class.