Prince Ali, who has recently caused the storm in Hong Kong, has made the Hong Kong Family Financial Office a discussion topic.Last month he announced a high -profile disclosure of $ 500 million to open a household office in Hong Kong and invited the media to attend the opening ceremony.EssenceThe media later confirmed that Prince Ali was indeed a member of the Dubai rule, and his home office was expected to open in May.
In recent years, Singapore's households have sprung up, and Hong Kong has also launched a strong offensive in the home market in the past year.Since March last year, a policy declaration on the development of the development of Hong Kong development, the Hong Kong government's fiscal budget this year announced that it will further optimize the relevant preferential tax system, hoping to attract more potential households to settle in Hong Kong.At the end of last month, Hong Kong held the "Yuze Xiangjiang" summit forum, gathered more than 400 influential decision makers and professional teams from the global family.According to a study conducted by the Hong Kong Investment and Promotion Department commissioned by the International Accounting Firm, it is estimated that more than 2,700 single houses are estimated to be in Hong Kong, which is nearly doubled than the 1,400 announced by Singapore 2022.
The two cities of Xingang have done their best to attract the family office, but the rules of the two are very different.Hong Kong has spread out the red carpet to attract the wealthy families around the world. Singapore has continued to tighten the policy of householding in the past two years.Since 2022, the Singapore Financial Authority has twice increased the threshold for the management of asset management in households, and also increased the requirements for local employees and local investment, ensuring that the Singapore economy can enjoy the positive spillover effect brought by the home office.
In fact, Singapore and Hong Kong can provide unique value propositions in attracting their homes. They have not said that who is stronger than anyone.Hong Kong has the advantages close to the Greater Bay Area, while Singapore emphasizes political and economic stability, and the rule of law is sound and transparent.In this competition, the two sides do not necessarily have a zero -sum relationship, but can borrow each other and become partners who are commonly prosperous, attract wealthy people to set up strongholds in Hong Kong and Singapore at the same time, and fully enjoy the advantages and preferential policies of the two places.
As the momentum of Hong Kong was flourishing, Singapore exposed the highly anticipated 3 billion yuan in money laundering case last August last year.Since then, people in the industry have reported that the HKMA's censorship of the HKMA is more cautious. The review process has been pulled from less than six months before to 18 months.Despite the strong competitive momentum of Hong Kong, Singapore still adheres to its own supervision principles and emphasizes the basic principles of the rule of law and transparency.This reflects the government's determination to maintain the supervision, not allowing Singapore to become a firm position for the international money laundering center to protect the stability and credibility of the national financial system.
The large number does not mean good quality. Singapore clearly realizes that if illegal funds flowing into Singapore in Singapore will damage the image and reputation of Singapore's financial center.However, too strict supervision may also hinder the inflow of legal funds and affect the status of the financial center.Therefore, while maintaining strict supervision, the government must also maintain the openness and tolerance of legal funds to ensure the lasting and stable status of the international financial center.
Not only numbers, but also quality, but also quality. Singapore does not only focus on pursuing market share.While continuing to attract households, Singapore emphasized that it has a zero tolerance position on illegal funds.In order to combat money laundering and other financial criminal acts, Singapore has very strict regulations and regulatory mechanisms, which include strengthening due diligence of financial institutions, implementing customer identity verification, and monitoring funds.This powerful regulatory environment makes it very difficult for the black money to legalize through Singapore through regular channels.However, despite these measures, black money is still invincible.Facing the strong competitive situation of Hong Kong, Singapore needs to think about how to maintain the status of the financial center without compromising in regulatory standards to protect and maintain valuable international reputation.
