Hong Kong mints millionaires faster than any of the world’s other from top 25 economic powerhouses, according to a new survey on the rich by Capgemini and RBC Wealth Management. But the Capgemini /RBC report says Hong Kong is a particularly fertile place for millionaires. The total number of high-net-worth individuals—those with more than US$1 million in investable assets, not including primary residence, collectibles or consumer goods—grew at an annual rate of 27% in last five years . That growth rate of wealthy individuals is by far the fastest, above the global 10% average and far higher than the growth rates for Singapore and China, which sat around 12% and 16%, respectively.
Right time to set up a company in Hong Kong for Tax Efficiency Wealth Creation
The foreigner high net worth people in Hong Kong tend to go for more tax efficiency investments and business structure which allow to increase net present value that require the advice of international tax specialists. The Hong Kong is the best place to do business in Asia. Strategically located for business in Asia low and simple tax regime International by Invest Hong Kong .
Hong Kong boasts one of the lowest tax rates in the world. Only income sourced in Hong Kong is taxable. The principal direct taxes are profits tax, salaries tax and property tax. Hong Kong's taxation is also as simple as it is an incentive for enterprises to invest here. There is no capital gains tax. and estate duty Both the interest income received from bank deposits and dividends received from corporations are exempt from profits tax.
Millionaire International Tax Strategies - Income earning from worldwide and Fund managing in Hong Kong
There are also all sorts of taxes in most of the countries, the alternative minimum tax for international people who are high earners. Taxes have to be considered at all times. Every investment you make should be thought about in terms of long term tax ramifications. The best international investments from a tax standpoint are the ones that are long term structuring and operating . Talk to us, and figure out what's best tax opportunities for you before you make the investment, and also before you sell.