wealth

Prince Charles Voted In To Lead The Commonwealth, Succeeding The Queen

Prince Charles Voted In To Lead The Commonwealth, Succeeding The Queen

By Lindsay Thompson LONDON, England — The Commonwealth Heads of Government Meeting (CHOGM) wrapped up days of high-level intense sessions and agreed that His Royal Highness Prince Charles, The Prince of Wales, 69, succeeds his mother Queen Elizabeth II as head of the Commonwealth of Nations. During the formal opening ceremony on Thursday, April 19, […]

After Brexit and Trump, what next?

In the post-9/11, post-GFC world, and amidst the current populist and anti- establishment climate, it has become a necessity for investors to take a more pragmatic approach to global investing, according to Iain Stewart-Linnhe, a distinguished speaker at the Monaco Wealth Forum on March 15. With cross-border enforcement now a clear and present danger , […]

Italians offer ‘bargain’ tax residence

Under Italy’s Finance Act 2017, a new measure will allow foreigners to pay a new flat-rate tax of 100,000 euros per year in exchange for tax residence. On Wednesday, March 8, the Italian tax authorities launched a procedure allowing rich foreigners to settle their tax residence in Italy in exchange for the “modest” sum of […]

PwC sees new wealth trend

Australian family businesses are in the midst of the largest transfer of wealth in the nation’s history as baby boomer founders begin to retire and transition out of their businesses. Yet not all of these family businesses are being passed down to the next generation. At PwC we’re presently seeing a move away from business […]

Wealth goes down under

New Zealand can expect to see a 70 percent rise in ultra-wealthy individuals over the next decade. International property consultancy Knight Frank said New Zealand and Australia’s healthy economies and attractive lifestyle were proving attractive with the super-rich. In addition, New Zealand was listed among the most popular second home locations for UHNWIs. “The ongoing […]

Listing the oil oligarchs

A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country’s natural resources, Zainab Calcuttawala writes. As such, you won’t be surprised to learn that the largest energy companies in the world are owned and operated by governments, and they include: Saudi Aramco, Russian Gazprom, China National Petroleum Corp. […]

Hong Kong leads Asia

Hong Kong is home to the largest number of super rich in Asia with 4,080 ultra high net worth individuals who own three homes on average, compared with four in Taiwan, and three in Singapore. On a global scale, Hong Kong, where luxury real estate is the second priciest in the world after Monaco, ranks […]

Millionaires flee France

There’s been a surge in the number of millionaires around the world who are moving countries, marketwatch.com reports. Some 82,000 high-net-worth individuals, defined as those who have assets over $1 million, left their home countries last year, versus 64,000 in 2015, according to the “Global Health Review: Worldwide Wealth and Wealth Migration Trends.” published by […]

Millionaires ‘have no country’

With all the debate over immigration in the United States and Europe, one group of immigrants is getting a red-carpet welcome around the world: millionaires. Last year, a record 82,000 millionaires moved to another country, according to a new study. While their numbers are a small fraction of the world’s migratory population, and of the […]

India’s lavish weddings under threat

A bill in the lower house of India’s parliament aims at putting a limit on the number of guests that can be invited and dishes to be served at weddings, in a bid to check the “show of wealth” that has become synonymous with Indian weddings. According to the bill, those who spend above Rs […]