Singapore’s financial centre is booming. Experts agree, the financial market in Asia is about to take Switzerland’s place when it comes to managing the fortunes of the wealthy. (SF/swissinfo.ch)
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Changing tax rules force private bankers East
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Having spent decades sheltering the undeclared assets of foreigners, the bubble has now burst – at least for European Union and United States clients who now face scrutiny from their tax authorities. But wealthy Asians have less to fear from the anti-tax evasion crusade. Private bankers in the Swiss market are frantically backpedalling as their…
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A combination of rapid wealth creation, a rise in the number of millionaires and drastically falling interest rates have made Brazil an ideal private banking location. Credit Suisse, Julius Baer and UBS have all recently expanded their business in the South American giant. Brazil is producing so-called high net worth individuals (HNWIs) – those with…
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.