Eduardo Saverin is now a Singapore citizen

Corrections: Eduardo Saverin renounced his US citizenship and become a resident of Singapore (aka Permanent Resident). Not a full Singapore Citizen YET.

You might remember Eduardo Saverin if you watched The Social Network. Saverin is one of four co-founders of Facebook and has about 4 percent stake in the company. He is played by Andrew Garfield in the movie. Remember the guy who stomp into Mark Zuckerberg cubicle and throws his laptop on the floor? YES, that’s him.

Eduardo Saverin has given up his US citizenship. According to his spokesperson, Saverin recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time. He has been residing in Singapore since 2009 and has been regularly spotted lounging at local night clubs.

This move might not be a surprise to a lot of Singaporeans since our country has been trying to attract more foreigners to take up citizenship here. A lot of news article also mention that this could be a tax reduction move since Facebook is going to IPO soon.

Renouncing his US citizenship and taking up a Singapore citizenship will reduce the amount of tax he need to pay since Singapore doesn’t have a capital gains tax. But he still need to pay an exit tax on the capital gains from his stock holdings. But that will definitely be much lesser than what he is expected to pay if he is still a US citizen.

Anyway, welcome to Singapore, Saverin.

5 Responses to 'Eduardo Saverin is now a Singapore citizen'

  1. Soon says:

    Edurdo has a dual citizenships – ie American & Brazilian passports. He gave up his US pp and becomes a SG resident , but still retaining his origin Brazilian citizenship. I don’t see how he will give u the latter to become a SG pink IC holder. So this little known fact is not widely reported in mainstream is misleading. In short, he is nothing but just another glorified rich-n-successful foreign talents like Jim Rogers who are here to milk the opportunities for all he could. Someone who will escape tax from his 2nd host county for money sake, will not hesitate to escape (tax or NS or any other obligations) for the 2nd time as long as money can buy his way in/out.

  2. Rei says:

    He came to singapore because of money, he will leave singapore because of money. All his actions are money driven. I don’t have respect for people like this.

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