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FOZL Knowledge Hub

FOZL Knowledge Hub

Everything you need to know about setting up and succeeding in Singapore

Why are more wealth management professionals and companies choosing Singapore?

Why are more wealth management professionals and companies choosing Singapore?
Why are more wealth management professionals and companies choosing Singapore?

 

According to informed sources

Some foreign wealth management institutions

are canceling plans to open offices in Hong Kong

in favor of Singapore

as wealthy individuals begin to move funds from Chinese territory

The new extradition bill draft has sparked public unease

 

 

The London-based

CEO told Reuters

A mid-sized European private wealth advisory firm

has abandoned plans to establish an Asian branch in Hong Kong

and plans to go to Singapore instead

 

 

“We’ve been monitoring the situation in Hong Kong for the past few weeks, and what we’ve seen hasn’t filled us with confidence,” the CEO said.

“For me, the most important thing is client stability, because you don’t want to invest $1 million to $2 million in setting up operations and then one day you need to shut it down because your clients don’t feel safe operating in that market.”

Some Hong Kong tycoons have already begun moving personal wealth overseas amid growing concerns over the government’s plans to allow suspects to be tried in mainland China for the first time.

 

 

Singapore FOZL Group is

a licensed corporate advisory firm by the Accounting and Corporate Regulatory Authority of Singapore.

Singapore company registration, annual audit, accounting

Trademark registration, internal audit, business consulting

 

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