Beyond Switzerland, Hong Kong is expected to become the new benchmark for global wealth management!

Recently, Sergio Ermotti, Chief Executive of UBS, publicly stated that theSwitzerland's position as a global wealth management center may be replaced by Hong Kong.

This trend will alsoEnhancing Hong Kong's status as an international financial centercap (a poem)International impactpower, which in turn also enhances itsIdentity "gold"The

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Hong Kong is expected to be

Global Wealth Management Leader

In a recent speech at the University of Lucerne in Switzerland, Sergio Ermotti, Chief Executive Officer of UBS, said that Hong Kong, Singapore and the United States are actively competing for the leading position in global wealth management.

Among them.Hong Kong's wealth management business was particularly bright.is expanding at a CAGR of 7.6%. It is forecast that by 2027, Hong Kong, with US$3.1 trillion in assets under management, willOvertaking Switzerland as the global wealth management leader.

The strong strength of Hong Kong Wealth Management is also gradually gaining wide recognition in the industry.

On June 21, global private equity market leaderUniwell Groupannounced that it will open an office in Central, Hong Kong to further expand its footprint in Asia.

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Hong Kong as an international financial center

There are many advantages

The advantages of Hong Kong as an international asset and wealth management center are mainly reflected in the following aspects:

❶ Rule of law and financial system stability

Hong Kong's legal system is based on common law, providing international investors with a familiar legal framework and strong guarantees of judicial independence. The sound financial regulatory regime safeguards market transparency and investor rights, and enhances the confidence of international investors.

❷ Free market economy and financial mobility

As a highly liberal economy, Hong Kong enjoys free flow of funds, with the Hong Kong dollar being freely convertible to many major currencies and protected by the Basic Law. This provides a high degree of flexibility for asset management and wealth management businesses.

❸ International financial market connectivity

Hong Kong has a world-class real-time large-value payment system, securities settlement network and a settlement system that is closely linked to the international foreign exchange market, which facilitates cross-border trading and asset allocation.

In particular, the interconnection mechanism with the mainland market (e.g., Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect, Bond Connect, etc.) provides a convenient channel for international capital to enter the Chinese market and for Chinese capital to go overseas.

❹ Comprehensive Financial Services and Professionals

Hong Kong has a well-developed banking and financial services industry that provides a wide range of financial services such as multi-currency account services, cross-border payments, loans and asset management.

At the same time, Hong Kong brings together a large number of experienced financial, accounting, legal and tax professionals who are able to provide one-stop, high-level financial services and advice to clients.

❺ Tax incentives and simple tax systems

Hong Kong adopts the principle of territorial source taxation, with no tax on offshore income, and no capital gains tax or inheritance tax (which has been suspended), which is particularly advantageous in attracting high-net-worth individuals and corporations to wealth management.

❻ Wealth management and asset management capabilities

Hong Kong has a mature service system in the areas of private banking, family offices, trust services, fund management and investment consultancy, which can meet the needs of various types of clients, especially for Asian high net worth individuals with a deep understanding of asset management needs and customized services.

❼ Trends in green finance and sustainable development

The Hong Kong Government actively promotes the development of green finance and encourages the issuance of green bonds and the establishment of green investment funds to provide investors with more diversified sustainable investment options, which is in line with the development trend of the global asset management industry.

❽ Application and development of financial technology

Hong Kong has actively embraced fintech to enhance the efficiency of financial services and provide innovative solutions for wealth management, such as digital service platforms and smart investment advisors, which increase the convenience and personalization of services.

It is worth mentioning that Hong Kong not only has a unique advantage in wealth management business, which has attracted many enterprises to do business in Hong Kong.Hong Kong IdentityThe many benefits brought about have also attracted investment and talents to Hong Kong.

Once granted Hong Kong status, applicants will be able toInvestment, home ownership, children's education, travelup tomedical careand many other aspects, enjoyingThe same favorable treatment as that given to Hong Kong local residents.

If you are interested in doing business in Hong Kong or applying for a Hong Kong identity, please feel free to enquire!