Tsk, this is obsolete. Premier requirement is now only $75,000, and there are two other ways to qualify:
I have been US Premier member for last >10 years. Now I have Premier membership in US and Singapore.
While MIA is correct that based on HSBC US Premier membership one can open account in another country where HSBC operates, I'd say that it is not universal, but rather depends on local jurisdiction. In case of Singapore, it requires that one can have long term visa - either to have work visa (EP, SP) or academic or long term visit (only for spouses) visa. If you don't have such visa, no matter how much money you have in US or any other country account, you can't open bank account in Singapore, period. The same situation is with most other SEA countries.
Specifically for Singapore, to get a local credit card, there is additional requirement for income - for non-locals there is a requirement set by local Monetary Authority of Singapore that a person must have at least SGD $30000 local yearly income to be eligible for (any) credit card. Higher is the card benefit levels, higher is income requirements. Currently in Singapore there are following income bracket requirements for different level credit cards:
- $30K - that's the absolute minimum
- $80K - some cards with slightly better benefits
- $120K - this is generic level for VISA Signature and MasterCard World Elite cards
- $500K - the top layer. These are cards which are coming with annual fees of $2000-$7000, they are not waivable and highest possible benefits for the
local market.
So... back to the question - one should check regulation first.