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.
Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year,
BCG’s report on Africa Climate Finance reveals that only 12% of the $2.4 trillion investment needed by 2030 has been met. Only 12% of the $2.4 trillion investment needed by 2030 for climate financing
Press Release from Jersey Finance, Friday 18 October, 2024. Jersey’s finance industry has reported robust growth across its funds, banking andcorporate sectors over the first six months of 2024, despite
The U.S. Treasury Department announced in a press release on Tuesday that the first round of talks on a comprehensive double taxation agreement is expected in the coming weeks. The agreement is seen