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Tax and Jurisdictions

October 17, 2022

In this week’s FB Roundup, Mukesh Ambani sets up a new family office in Singapore;Sir Jim Ratcliffe is blocked from buying Manchester United by the current club owners; and Pierre Castel is hit with a multi-million dollar tax bill.

Mukesh Ambani to set up family office in Singapore
Asia’s second wealthiest man, Mukesh Ambani, is looking to further expand his reach by opening a new family office in Singapore.

The Reliance Industries chairman, whose current net worth is $83.7 billion (according to the Bloomberg Billionaires Index), is reported to have chosen real estate and brought on board a manager tasked with employing new staff to get the office up and running.

October 12, 2022

Milestones in the life of a family business can present both opportunities and risks. Frederik Bjorn and Clare Hetherington of law firm Payne Hicks Beach look at ways to take advantage of the former while reducing the latter.

Milestones in the life of a family business can present both opportunities and risks. Frederik Bjorn and Clare Hetherington of law firm Payne Hicks Beach look at ways to take advantage of the former whilst reducing the latter.

September 22, 2022

On the heels of Campden Wealth's Forum in Bermuda this past summer, Campden FB caught up with long-time member Edward Allanby. Having spent 20 years living in and welcoming family offices to Bermuda, Edward guides us through the many reasons why the North Atlantic island is the place to be...

There are myriad reasons to move to Bermuda - an archipelago of 181 islands totalling 21 square miles and surrounded by pink sand beaches and palm trees, the island is rich in culture, local and international cuisines and natural beauty, with a sub-tropical climate and temperatures that rarely drop below 55°F or exceed 90°F. The island offers one of the highest standards of living in the world, one of the highest per capita incomes in the world, a top-tier healthcare system and access to excellent schools.

July 20, 2022

Hong Kong’s low tax rates along with comprehensive infrastructure, little government interference and substantial available capital make it attractive to potential investors, including family offices, and thus competitive with other countries in the region, says Christine Ho, deputy global head of FamilyOfficeHK at Invest Hong Kong.

On April 4, 2022, the Financial Services and Treasury Bureau (FSTB) submitted a paper for discussion to the Legislative Council Panel on Financial Affairs on the subject of Proposed Tax Concession for Family Offices. The objective of the proposed tax exemption is to provide tax certainty to ultra-high-net-worth individuals and their family members who hold assets via investment holding vehicles in order to attract family offices to set up and operate in Hong Kong.

April 4, 2022

The Russia-Ukraine war adds to near-term growth risks for the global economy and will likely keep inflation elevated for longer. While uncertainty is high, equity markets are oversold and should recover if tensions ease in the coming months says Russell Investments’ global head of investment strategy Andrew Pease.

The Russia-Ukraine war adds to near-term growth risks for the global economy and will likely keep inflation elevated for longer. While uncertainty is high, equity markets are oversold and should recover if tensions ease in the coming months says Russell Investments’ global head of investment strategy Andrew Pease.


Key market themes

March 31, 2022

In this week’s FB Roundup, US president Joe Biden proposes a billionaire income tax; the preferred bid for new Chelsea FC ownership is to be presented by April 18; and BNY Mellon appoints a new head for global family office.

Joe Biden proposes billionaire income tax
US President Joe Biden has put forward a proposal for a Billionaire Minimum Income Tax in his fiscal year 2023 budget proposal.

As part of the Biden administration’s bid to reduce the United States federal deficit, the proposed tax will “Eliminate the inefficient sheltering of income for decades or generations,” according to The White House.

January 17, 2022

Resources for bespoke wealth management and responsible governance strategies are in growing demand from restructuring family offices in their pursuit of new investment opportunities in new markets.

Resources for bespoke wealth management and responsible governance strategies are in growing demand from restructuring family offices in their pursuit of new investment opportunities in new markets.

November 24, 2021

For many, it’s the culmination of a lifetimes work. You’ve sold your business, the deal has completed and a large amount of cash has landed. Where do you go next?

For many, it’s the culmination of a lifetimes work. You’ve sold your business, the deal has completed and a large amount of cash has landed. Where do you go next?

November 17, 2021

European family offices are more optimistic about the economic outlook for 2022 than Asia-Pacific and North American peers and more than half of continental families are open to new investment opportunities.

European family offices are more optimistic about the economic outlook for 2022 than Asia-Pacific and North American peers and more than half of continental families are open to new investment opportunities.

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