Core Insights - The rise of Dubai, Hong Kong, and Singapore is reshaping the global private capital landscape, establishing a competitive family office ecosystem alongside traditional Western financial centers [1][21] - High-net-worth individuals are increasingly relocating from Europe due to high wealth taxes and regulatory pressures, seeking more favorable environments in regions like Dubai, Hong Kong, and Singapore [1][21] Dubai - Over the past fifty years, Dubai has emerged as a technology, finance, and business hub, with over 81,000 millionaires expected by the end of 2024 [1][6] - Dubai's appeal lies in its low tax rates, golden visa program, and strong growth prospects, making it a preferred destination for high-net-worth individuals [1][6] - The Dubai International Financial Centre (DIFC) has seen a remarkable increase in family offices, growing from 50 in 2020 to over 1,000 currently [6] Hong Kong - Hong Kong is accelerating its family office sector with government initiatives aimed at creating a competitive business environment, including tax incentives and new investment programs [7][10] - The city serves as a unique hub connecting East and West, benefiting from its geographical proximity to mainland China and a favorable tax regime [8][10] - As of 2024, Hong Kong has over 2,700 family offices, with a significant portion managing assets exceeding $100 million [10] Singapore - Singapore has positioned itself as a leading family office base in Asia, with over 2,000 family offices established by the end of 2024, reflecting a 42.9% increase from the previous year [11][12] - The city-state's advantages include a stable political environment, favorable tax policies, and a robust legal framework, making it an attractive location for ultra-high-net-worth families [11][12] - Recent regulatory tightening has prompted Singapore to streamline processes to maintain its competitiveness in attracting family offices [14] European Wealth Centers - European traditional wealth centers are experiencing capital outflows due to high taxes and stringent regulations, with many wealthy individuals relocating to more favorable jurisdictions [21] - London remains a significant financial center, but there is a noticeable trend of wealthy individuals considering relocation, although many family office teams continue to operate from London [15][17] - Countries like France and Germany face challenges in retaining ultra-wealthy families due to high taxes and regulatory burdens, leading to capital flight [17][18] Summary - The emergence of the "family office triangle" with Dubai, Hong Kong, and Singapore signifies a structural transformation in the global private capital landscape, with each city offering unique advantages [21][23] - Hong Kong and Singapore complement each other, enhancing cross-border capital flow and asset allocation flexibility, while family offices increasingly adopt a multi-location operational model [23][24]
财富管理重心东移：欧洲让位，「港新迪」铁三角上位
3 6 Ke·2025-12-02 08:02