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.
Hedge funds kicked off 2024 with their “best quarter since the pandemic”, according to data from the Citco group of companies. Equity and multi-strategy funds led the charge, with a weighted average
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The Swiss Federal Council’s proposal to include crypto assets in the Automatic Exchange of Information (AEOI) system shows the country’s commitment to crypto tax compliance and transparency. The