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Alessandro Palombo Profile picture
@thealepalombo
Oct 29, 2024 • 17 tweets • 6 min read • Read on X
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This is Singapore vs Dubai:

- Singapore: The billionaire's hub (in flip-flops)
- Dubai: The tax-free oasis (in Lamborghinis)
- Two paths to freedom

I spent 4 years in Dubai, incorporated 2 businesses in Singapore.

Here's my breakdown of who should choose which city (and why): Image
First, a quick background comparison:

🇸🇬 Singapore: Fishing village to global financial hub in one generation. Now manages $2T+ in assets.

🇦🇪 Dubai: Desert to metropolis in 30 years. Sheikh's vision of a tax-free haven brought to life.

Both have seen incredible rapid growth.
Quick key stats:

🇸🇬 Singapore:

- #1 safest city
- 22% max tax (0% on major gains)
- world's 4th largest financial hub

🇦🇪 Dubai:

- #4 safest city
- 0% personal tax
- new 9% corporate tax (with exemptions)

Both have specific perks.

Let’s dive into the details! Image
1. Daily Life

🇸🇬 Singapore:

- Relaxed wealth scene
- Great mix of city and nature
- Elite healthcare and education

🇦🇪 Dubai:

- Wealth on display
- Fast opportunities
- Strategic timezone

@WealthyExpat shares his views on the nature in these cities:
2. Climate

🇸🇬 Singapore:

- Tropical
- HUMID year-round
-25-32°C (77-90°F)

🇦🇪 Dubai:

- Hot desert
- Mild winters
- Summer can hit 45°C (113°F)

Climate can be deal-breaker. In different ways for both.
3. Business Environment

🇸🇬 Singapore:

- #2 for ease of doing business
- Gateway to Asian markets
- Company setup process in 1-3 days
- Capital gains 0%
- 17% corporate tax, but extensive exemptions and incentives available
- 100% foreign ownership allowed Image
🇦🇪 Dubai:

- Top 20 globally for ease of doing business
- Bridge between East and West markets
- Free Zone company setup in 3-5 days
- 9% corporate tax, 0% in Free Zones under certain conditions
- 100% foreign ownership allowed

Both offer world-class infrastructure and support.
4. Banking

🇸🇬 Singapore: Ultimate wealth preservation

- Private banking rivals Switzerland
- Top-tier asset protection
- 700+ family offices

🇦🇪 Dubai: Fast & flexible

- Quick account opening
- Rapid company setup
- Digital banking not as efficient as SG
5. Residency Reality

🇸🇬 Singapore:

- Tough entry
- Citizenship possible in 2-6 years (but VERY expensive)
- Top-tier passport

🇦🇪 Dubai:

- Multiple visa options
- Relatively easy golden visa
- But no citizenship path
Choose based on your long-term goals:

🇸🇬 Singapore = Stability, integration, global access

🇦🇪 Dubai = Tax benefits, business ease, flashier lifestyle Image
The Challenges:

There’s some hidden ones…

🇸🇬 Singapore:

- Cost of living VERY high, especially housing
- Did I mention it’s HUMID
- Cars are SUPER expensive

🇦🇪 Dubai:

- Little to no permanency
- BRUTAL summers
- Controversial inequality

So…
Which should you choose?

🇸🇬 Singapore is hard to beat if you value:

- Asian market access
- Stability & long-term planning
- Top-tier banking, education & healthcare

And in the other corner… Image
🇦🇪 Dubai if you prioritize:

- 0% personal tax
- A free and luxurious lifestyle but less permanent
- Being around young entrepreneurs

But here’s my honest take after years in both: Image
For Europeans and also Americans, Singapore means being very far from home and timezone.

If that’s problematic, Dubai wins IMHO.

If not, Singapore and asian exposure it’s a big plus.

Especially considering how and where the world is evolving towards on a macro scale.
The secret is to find ways to utilize them both at different times.

That is when you have true sovereignty and freedom.

I’d relocate back in Dubai happily, although Abu Dhabi is also attractive.

These days I am frequently in Singapore and I love it! Image
Which wins for you?

Let me know in the comments!

P.S. I’m on a mission to design the future of citizenship.

For weekly actionable guides and ideas on how to lower taxes and unlock financial freedom for you and your family, join my newsletter here:
alenewsletter.com
Thank you for reading!

For more posts and insights on the future of global citizenship, follow @0x_ale

And repost this to share with your audience:

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More from @thealepalombo

Alessandro Palombo Profile picture
Apr 24
I'm European.

For 30 years, I've lived in various countries across the continent.

I get asked daily:

"Where should I actually move to in Europe?"

Here's a realistic list of countries I'd consider moving to in 2025 and why:🧵 Image
The European reality:

North = Economic engine, efficient systems, but boring and cold

South = Weather, food, quality of life

The Southern lifestyle is THE European dream everyone knows.

Let’s dive into the best options and some other hidden opportunities 👇 Image
First, the great South of Europe - where life quality truly shines:

Spain 🇪🇸
Portugal 🇵🇹
Italy 🇮🇹
Greece 🇬🇷

For most, these countries will offer the highest overall quality of life combined with solid infrastructure and tax & visa efficiency.

Here's a quick breakdown of each: Image
Read 21 tweets
Alessandro Palombo Profile picture
Apr 10
🚨 It's official: UK millionaires are fleeing in record numbers.

In 2024, the UK ranked second only to China in wealth exodus – ahead of even India.

But where exactly are these millionaires going and why?

Here's what the data shows (and what it means for the future of global wealth):🧵Image
The Henley Private Wealth Migration Report confirms it:

UK is hemorrhaging high-net-worth individuals at an accelerating rate – one of the largest outflows of high-net-worth individuals in the world.

And 2025 projections? Even worse.

This isn't slowing down anytime soon. Image
"I'm never going back to the UK."

That's what a Web3 founder told me in Lisbon last month.

The reason?

- Sky-high taxes
- Runaway living costs
- Growing safety concerns
- Collapsing public services

I hear this everywhere now. It's the new normal...
Read 18 tweets
Alessandro Palombo Profile picture
Apr 7
This is Puerto Rico:

- 0% U.S. federal income tax
- 0% tax on passive income (w/ right setup)
- Tropical paradise 2.5 hours from Miami

It is THE tax haven option for U.S. citizens – but is there a catch?

Here’s what you need to know and why Puerto Rico deserves your attention: Image
First, some context on Puerto Rico's fascinating history:

- Pre-1493 → Indigenous Taíno civilization
- 1493-1898 → Spanish colony (discovered on Columbus’ 2nd voyage)
- 1898 - 1952 → US territory, after Spanish-American War

But why isn’t it a US state? History Matters breaks it down well:
Today, Puerto Rico blends Caribbean lifestyle with American infrastructure.

For non-US citizens there are likely better options.

But for US citizens, It has become the only true tax haven.

Here are 7 key factors to consider about Puerto Rico: Image
Read 18 tweets
Alessandro Palombo Profile picture
Mar 31
This is Malaysia vs. Indonesia:

- Malaysia: Tax-friendly, SE Asian hidden gem
- Indonesia: Tropical paradise, more than just Bali
- Two SE Asian hotspots...

One is a digital nomad hub, the other is still underrated.

Here's what you need to know and which you should choose🧵: Image
Some background:

🇲🇾 Malaysia:

Once a British colony, Malaysia has evolved into one of the easiest places to do business in Asia, ranked #12 globally.

🇮🇩 Indonesia:

Home to the world’s 4th largest population, driving rapid economic expansion and emerging markets.
Both nations have adapted fast to attract expats and global talent.

- Malaysia: Business-friendly and developing fast
- Indonesia: Tax-friendly and rich in lifestyle perks

Let’s break down 6 key factors to consider to choose between them: Image
Read 16 tweets
Alessandro Palombo Profile picture
Mar 26
This is Malta:

- 0% tax on foreign income (non-dom residents)
- EU citizenship in just 1 year (cost: €1 MILLION+)
- 10th smallest country in the world

It has one of THE strongest passports you can buy.

7 reasons why "The Jewel of the Mediterranean" should be on your radar:🧵 Image
First, some background on Malta's incredible history:

Spanning 7,000+ years, the country has some of the oldest temples in the world, pre-dating the pyramids.

Ruled by:

- Phoenicians
- Romans
- Arabs
- British

To say it has a vast cultural imprint is an understatement.
Today, Malta commands attention as a thriving European hub:

It had a GDP growth rate of 5.0% in 2024 – Germany’s was 0.1%.

Despite a population of around 450,000 it is one of the fastest growing economies in Europe.

Here a are 7 reasons why Malta deserves your attention: Image
Read 17 tweets
Alessandro Palombo Profile picture
Mar 24
Everyone wants 0% tax.

Ok, imagine Trump ends Federal Income Tax in the US…

What changes? How would this impact you today?

As a European, I didn't know how this could work so I did some research.

Here's a breakdown of everything I discovered:🧵 Image
First, let's understand what we're talking about, in the US:

Federal income tax = $2.5 trillion annually
Current tariffs = just $80 billion

Historically, before 1913, tariffs funded the much smaller government.

Today's massive federal budget makes this model seemingly challenging.Image
To fill this gap, you need three things:

1. Massive tariffs (full-scale "IRS to ERS" model)
2. Buy “Made in America” again
3. Drastic government spending cuts via DOGE

Let's break each down: Image
Read 23 tweets

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