European lawyer Lespeilan, a European lawyer who has worked with Hong Kong and the rich Chinese family, may be a turning point for the Chinese business elites.He said that these wealthy merchants are now worried that China's official and his new leadership will continue to implement policy -driven policies and directly threaten their interests.
(Seoul / Singapore News) The Chinese official established a highest power institution with its loyalty as the team after the 20th National Congress of the Party.According to media reports, China's high -central centralized political environment has caused a wave of escape from the rich and elite. They not only worry about wealth disappear, but also fear their safety.
According to the British Financial Times on Tuesday (25th), European lawyer Lespeilan, a European lawyer who had cooperated with Hong Kong and the rich in China, said that the 20th National Congress may be a turning point for the Chinese business elites.
He explained that these wealthy merchants have benefited a lot during China's reform and opening up and economic prosperity in the past decades.But these wealthy businessmen are now worried that Chinese officials and his new leadership will continue to implement policy -driven policies, which will directly threaten their interests.
I was worried that the high tax system replaced the spontaneous donation to transfer the assets out of the country many years ago
Lespeilan said that in addition to worrying about the official "spontaneous donation" in the name of "common prosperity" in the name of the official high -tax system, these rich people are increasingly worried about their safety.
He said that three instructions from the Chinese super -rich family have been received so far to implement the "plan for going to the top".He described that the rich Chinese have a motto, that is, to prepare a speedboat with gold bars and backup documents in Harbor."Change to the present statement is to prepare a private jet, passport and foreign bank account ... This is our current world."
He said that many customers have prepared to leave China many years ago, including the legally transferred assets to a safe offshore judicial jurisdiction, and arranging family members to obtain new nationality and settlement in places outside China.
Singaporean lawyer: Hong Kong's home office attraction sharp decrease
Liu Jiaming, a senior partner of Dentons, headquartered in Singapore, revealed that in recent months, there have been more Chinese rich people instructed them to inquire about the details of setting up a family office in Singapore to manage the huge assets of the family.
He said that in the past, Chinese rich and elites chose to set up a family office in Hong Kong; but as Beijing strengthened control over Hong Kong, Hong Kong's attraction was sharply reduced.
Singapore Lawyer Bayfront Law Director Ryan Lin (translated) also said that during the 20th National Congress of the Communist Party of China, he received five Chinese families instructions that intend to set up a family office in Singapore, and three of them were in execution.Most Chinese rich people want to move to Singapore.
Citi private bank data shows that the number of family offices set up in Singapore from 2017 to 2019 has increased by five times, and from 400 at the end of 2020 to 700 at the end of 2021.
