Chinese regulators, including China Securities Regulatory Commission Vice Chairman Fang Xinghai, met with global investors on Friday, in an effort to enhance market confidence amidst signs of economic stagnation in the country. This move follows recent expressions of strong support for private tech enterprises by President Xi Jinping’s administration. The
The recent hike in the Tax Collected at Source (TCS) rate from 5% to 20% in Budget 2023, along with the existing cap of $250,000 on remittances under the Liberalised Remittance Scheme (LRS) in India, has made overseas investment challenging for the common citizen. However, for the nation’s high net-worth
China’s renminbi (RMB) has been growing in prominence, specifically in the country’s own cross-border transactions, marking a significant shift in global finance. However, its usage on a global scale remains limited compared to the size of China’s GDP and influence in trade. According to China’s State Administration of Foreign Exchange
Singapore’s passport has now taken the lead as the world’s most powerful, surpassing Japan, according to the latest Henley Passport Index. With visa-free access to an impressive 192 global destinations, Singapore’s passport holders enjoy unparalleled global mobility. After enjoying five years at the top spot, Japan has now dropped to
• CSRC to implement reductions in funds’ trading commissions during the current year. • These measures come in response to a significant decline in fund launches amid the ongoing market downturn. Source: Bloomberg
HSBC has recently unveiled its Global Private Banking (GPB) business in India, with the aim of catering to high-net-worth (HNW) and ultra-high-net-worth (UHNW) professionals, entrepreneurs, and their families. This move underscores HSBC’s commitment to becoming a leader in wealth management across Asia, offering top-tier wealth solutions, global private banking expertise,
Indonesia has unveiled its Golden Visa program, a new initiative aimed at attracting exceptional foreign talent to the country. Minister of Tourism and Creative Economy, Sandiaga Uno, recently announced the imminent launch of this program, which seeks to draw high-quality individuals in sectors such as digitalization, healthcare, research, and technology.
Vietnam has recorded an impressive influx of foreign direct investment (FDI) in the initial five months of this year, totaling around $10.86 billion. The country’s favorable business environment, robust economic growth, and strategic sectors such as manufacturing, high-tech, services, and renewable energy have contributed to its appeal as an attractive
Hong Kong has introduced a groundbreaking tax concession regime for Single Family Offices (SFOs) managing Family-owned Investment Holding Vehicles (FIHVs). The new regime aims to position Hong Kong as a premier hub for family offices and provides numerous benefits for high-net-worth individuals and their families. Benefits of the New Tax
India has emerged as the third-largest recipient of foreign direct investment (FDI) from the United States (US) between 2015 and 2020, experiencing a 20% increase in new investments. In contrast, FDI from the US to China decreased by 40% between 2020 and 2022 compared to the previous five-year period. According
