Singapore has been accelerating its tightening of various investment regimes since March after at least one of the defendants in a recent SGD3 billion (USD2.2 billion) money laundering case was involved a family office that received tax exemptions, Bloomberg reported, citing people with the knowledge of the matter. Singapore asked family offices and hedge funds to provide more information and further close down inactive business entities.
Family offices that were reportedly granted tax exemptions received new forms in May requesting more detailed information, and the forms need to be submitted by the end of June. Meanwhile, the Monetary Authority of Singapore (MAS) confirmed that it would abolish the licensing regime for hedge funds with assets of up to USD250 million by 1 August and replace it with a more stringent reporting mechanism.
China has accused the US of making “unfounded and false allegations” about its role in the fentanyl trade to justify tariffs on Chinese products. The complaint was lodged with the World
A recent examination of Ireland’s Golden Visa program found that 90 per cent of applicants, primarily from China, lacked any clear connection to Ireland.A confidential memo from the Irish Department
Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technologies and CEO of ADNOC, emphasized the importance of securing adequate climate finance to implement the UAE consensus during the
Apple is likely to face a fine of around half a billion euros early next month according to five people with direct knowledge of an on-going investigation. These five sources reported these details