The influx of family offices handling money of Chinese origin has slowed in the wake of Singapore’s multibillion-dollar money-laundering scandal
Tighter checks for new applicants are partly to blame – but the city state’s elevated property prices and higher stamp duty aren’t helping, either.
In Singapore, the growth of Chinese family offices has been slowing amid the fallout from last year’s multibillion-dollar money-laundering scandal and tighter checks on new applicants.
More than S$3 billion (US$2.2 billion) in assets have been seized so far in connection with the sprawling case, which first hit the headlines in August last year when 10 China-born suspects were arrested.
A dozen Labour MPs have joined a cross-party call for an “extreme wealth” tax in this month’s Budget. The MPs have written to chancellor Rachel Reeves to demand a new 2% tax on assets
The Government has announced the New Zealand Green Investment Finance (NZGIF) will stop making new investments and will wind down its existing portfolio, Climate Change Minister Simon Watts says. “Almost
The introduction of a new bill designed to launch a ‘smarter’ AML/CFT framework that puts businesses first while clamping down on criminal activity has been approved by the Cabinet. Associate Justice
Press Release from Carey Olsen, Thursday 20 February, 2025. Carey Olsen’s corporate team in Singapore has acted as Cayman legal counsel to GCL Global Limited (“GCL”), one of Asia’s