• All blog entries
    • Calculators
    • Case studies
    • Cost of living
    • CPF Are You Ready?
    • CPF Matters
    • Credit Management
    • e-Learning
    • Estate Planning
    • Events
    • Financial advisers
    • High Networth
    • Insurance
    • Investments
    • Letters to the Press
    • Magazines
    • Others
    • Retirement Planning
    • Scams
    • Surveys
    • Tragic Stories
    • Unethical sales process
    • Videos
  • Legal
  • Testimonies
    • Individual testimonies
    • Gallery
  • My Account
Hi, looking for a fee-based financial planner in Singapore? Read this article now!
  • Home
  • About
    • About Wilfred Ling
    • Why do you run your own professional financial planning practice?
  • FAQs
    • FAQs on Wilfred Ling’s Financial Services
    • FAQs on Financial Planning
    • FAQs on Investments
    • FAQs on Insurance
    • FAQs on Estate Planning
  • Services
    • Overview
    • Create a financially secure plan for your young family (package details)
    • Retirement Planning
    • Investment Portfolio Management
    • Insurance Planning
  • Fees
  • Cool Tools
  • Contact
  • Subscribe
You are here: Home / Frequently Asked Questions / FAQs on Wilfred Ling's Financial Services / Do you accept foreign clients?

Do you accept foreign clients?

2, July 2015 by Wilfred Ling Leave a Comment

Last Updated on 13, July 2016

If you are looking for retirement planning, I may be able to provide consultation service over the Internet. Contact me for details.

The following paragraphs are for those who wish to purchase investment products through me.

I may accept foreign clients' investments subject to conditions such as nationality, residency, tax position, source of wealth, source of funds, scope of advice and the ability to provide the required documentation.

Nationalities / Residencies

I may accept cases from those who are citizens or residing in Singapore, Indonesia, Thailand, Malaysia, Philippines, China (mainland), Hong Kong, Macau, Taiwan and United Kingdom.

Tax position

I cannot advice you on any tax consequences of your investments. You have to source for your own tax consultant.

If you are a US tax payer, I cannot accept your case regardless of your nationality and residency status.

Source of wealth

If you are an employee, you are required to provide proof of employment such as salary slips and income tax statements for the last 3 years.

If you are a business owner or self-employed, you are required to provide an audited financial reports of your company for the last 3 years. The auditor must be from one of the ‘Big Four’ namely PwC, Deloitte, Ernest & Young and KPMG. You are required to provide proof of income tax returns for the last 3 years of your company.

Source of funds

The money that is to be used for investments must originate from a reputable bank. Moreover, the bank account used must not have a turnover of more than 10% for the last three years . Turnover is defined as:

Turnover = \frac{ total\hspace{5pt} deposits \hspace{5pt} over \hspace{5pt}  past \hspace{5pt} 3\hspace{5pt}  years + total\hspace{5pt} withdrawal\hspace{5pt}  over\hspace{5pt} past\hspace{5pt} 3\hspace{5pt}  years}{Average\hspace{5pt} balance \hspace{5pt} based \hspace{5pt} on \hspace{5pt} past \hspace{5pt} 36 \hspace{5pt} months \hspace{5pt} monthly \hspace{5pt} balance}  

The bank account must be in your own name and you are the beneficiary owner of this money.

Scope of advice

The scope of advice is restricted to investments and retirement planning only. Moreover, only Singapore registered investment products will be recommended.

Required documentation

You will need to produce the following:

  • As all transaction has to be done in Singapore, you are required to fly in to Singapore and provide proof of entry such as air ticket and stamped passport. Original documents are required to be produced.
  • Latest salary slip (for employees).
  • 3 years of company income tax statements for business owners.
  • 3 years of income tax statements for working personnel.
  • 3 years’ worth of monthly bank account statements. The money for investments must originate from this bank account.
  • Proof of address: Documents that are acceptable are: letter issued by government or utility bill. These documents must be less than 3 months old.
  • Proof of identity: National ID, passport or social security. Original is required. We will return the original to you after making a copy.
  • Full disclosure of your assets and liabilities using a spreadsheet template which will be provided to you.

 

Like this article? Subscribe to my newsletter below for more.

Get regular Tips on Financial Planning. Free subscription for 3 years. Covers all aspect of financial planning such as 'How much salary you should have?', 'How to avoid insurance that is not suitable?", 'What are the retirement planning methods?", etc

Share this:

  • Tweet
  • Print

Related

Filed Under: FAQs on Wilfred Ling's Financial Services

What do you think? Leave a comment. Cancel reply


WILFRED LING, CFA

WANT TO GET REGULAR TIPS ON FINANCIAL PLANNING?

JOIN with thousands of other subscribers in getting tips on all aspect of financial planning such as "What is the minimum salary required?", "How avoid insurance that is not suitable", etc.


WILFRED LING IN THE NEWS

Click HERE to find out more.


THE KIND OF CLIENTS I AM LOOKING FOR

NEW TO US?

Learn how you can fully benefit from this massive website: HERE

For Registered Users Only (free)

  • Webinar on 7 Real Stories To Achieve Your Financial Freedom 6/6/2023
  • Webinar on Major change in cancer treatments in your integrated shield plans 3/9/2022
  • How and what to invest now? (Webinar) 28/7/2022
  • How to identify high performing unit trusts in 3 steps (Webinar) 3/9/2021
  • Financial Planning – Christian Perspective Part 2 (Webinar) 14/8/2021

View All

For Clients Only

  • Video Message to Clients 30/12/2021
  • Exclusive client-only Investment Update Webinar by Wilfred 26/11/2021
  • JPMorgan Guide to Market Q2 2020 15/4/2020
  • JPMorgan Perspective Q2 2020 15/4/2020
  • JPMorgan Guide to Market Q1 2020 5/2/2020

View All

Top Posts

  • Process & Fees Process involved in financial planning   Initial F...
  • Strange way of how CPF Interest is calculated & retirement planning CPF has a rather strange way of calculating interest. I...
  • AIA Pro Achiever 2.0 and my recommendations AIA Pro Achiever 2.0 was a product which someone recent...
  • Psychology behind the Singapore ‘chope’ culture and what we can learn to achieve our financial freedom I was quite amused by the debate on the Singapore ‘chop...
  • Fee-Based Financial Planning in Singapore Are you looking for a fee-based financial planner in Si...

Recent comments

  • mah weng kong on Is PruSelect Vantage plan a good or bad product?
  • Rafi on Wilfred Ling’s Story, the beginning
  • ECE7 on Wilfred Ling’s Story, the beginning
  • Tan Boon Seng on What is meant by pre-existing conditions in real life?
  • Kapil Verma on 70% loss because insurance agent did not provide review for 11 years
  • Ng Ricky on 60’s with no dependants – which insurance is a must have and nice to have?

To be notified of new blog post, like this facebook page

To be notified of new blog post, like this facebook page

Read articles based on different categories

Investment Login

iFAST Central: Login

iFAST Prestige: Login

Navigator: Login

Chartered Financial Analyst

CFA

Chartered Financial Consultant

ChFC

Featured Blogger

IM$avvy

© Copyright 2006-2023 Wilfred Ling

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore

hollow-nasty
hollow-nasty
hollow-nasty
hollow-nasty