Trading Survey: HNW Asians Prefer Compliance Rather than Secrecy
After a recent survey was conducted involving wealthy business owners in the main Asian jurisdictions, namely Hong Kong, Singapore, Taiwan, Japan and China. The survey showed a shift in business attitude and values in recent years. With tax compliance and transparency voted higher than confidentiality for the first time ever.
Compliance factors came out as a top priority, with succession planning being another key consideration for Asian high-net-worth and ultra-high-net-worth individuals (HNWIs) when considering an overseas business structure and a suitable international finance centre for conducting sound business.