The Asia Edition of Businesslife is now available online.
There can be no disputing the prominence of Asia-Pacific when it comes to wealth growth, and the latest edition of Businesslife magazine takes an in-depth look at the impact of that growth on the global financial services sector – specifically the need for greater collaboration with regions such as the Channel Islands.
As of July 2020, the Asia-Pacific region accounted for the highest number of ultra-high-net-worth individuals in the world, with 831 super-rich wealth holders residing there. That’s 38% of the world’s super-rich.
With this in mind, this special edition of Businesslife explores in detail the growing relationship between Asia-Pacific and the Channel Islands.
One area that epitomises the growing relationship between the jurisdictions, for example, is the trend of wealthy Far East families and entrepreneurs turning to the Channel Islands to set up trusts and protect their assets.
Our article reveals that, despite the huge geographical differences, there are a number of fundamental similarities between the jurisdictional trust structures.
However, there are also enough key differences to ensure that Asian clients are increasingly taking advantage of the Channel Islands for asset protection.
Jon Watkins, Editor-in-Chief of Businesslife, said: “It’s clear that the huge growth and transition of wealth in Asia-Pacific means the region increasingly needs services and structures that are proven to be solid, flexible and reputable. Enter the Channel Islands.
"Our articles in this issue show there are huge opportunities to be had for both regions from greater collaboration and partnership.”
Moving west
A further cause of the strengthening relationship between Asia-Pacific and the Channel Islands is the wall of Asian capital currently focused on European assets, which we also explore in this issue.
South East Asian investors, from pension funds to HNWIs, are more keen than ever to steer their capital to the West, our article finds.
Fintech foundations
Another barometer of economic and financial growth in a region is always the development of its fintech sector. From large corporates looking to drive innovation, to emerging markets seeking ways to serve the underbanked, there is plenty of growth among Asian fintech developers.
It’s likely their activities will further create products and services to meet the needs of the growing wealth sector in the region. But it’s unlikely that this alone will be enough – which means cross-jurisdictional relationships can be expected to continue to develop and thrive as we move forward.
Elsewhere in this issue…
We also look at:
• Sustainable finance
• The rise of Singapore as a financial hub
• The stability of Hong Kong amid turbulent times
• Wealth transition across Asia.
Click here to view our Asia Edition online