Second in the world! Hong Kong's super-rich reach 12,500

BREAKING NEWS!

According to data firm Altrata, which releasedThe World's Super-Rich Report 2024Display.Hong Kong's super-rich reach 12,500, second in the world, second only to New York.

01

Hong Kong has the second largest number of super-rich people in the world

On July 22, data firm Altrata's latest World's Super-Rich Report 2024, by the end of 2023 the world will have approximately426,300 peopleWealth totaling $30 million or morethat amount or moreThe total value of wealth increased by 71 TP3T y/y to49 trillion dollarsThe

Among them.Hong Kong's performance is particularly impressiveWith 12,546 people with wealth over $30 million, it is the second largest in the world.Second only to New York's 16,630.

This means that in Hong Kong (with a population of about 7.5 million), the averageOne in every 600 persons is worth more than HK$234 million.

In the report, the U.S. super-rich accounted for one-third of the world's billionaires at 148,000, up 131 TP3T y/y. By city:

🔹 New York ranked first with 16,630;

🔹 Hong Kong ranked second with 12,546;

🔹 Los Angeles and Tokyo ranked third and fourth with 8,955 and 6,445 respectively.

The importance of the report lies in the revelation of the global distribution of wealth, especially the geographical distribution of the super-rich.New York and Hong Kong, as global financial centers, attract a large number of high net worth individuals.It not only reflects the economic strength of the two regions, but also shows their importance in the global wealth map.
02

Hong Kong's per capita wealth ranks third in the world

On July 10, UBS officially released theGlobal Wealth Report 2024.. The report shows that total global wealth achieved a solid growth of 4.21 TP3T in dollar terms, with Asia Pacific growing by 4.41 TP3T.

The Global Wealth Report 2024 provides an in-depth analysis of income and wealth in 56 economies covering 92% of global wealth. Wealth, as defined in the report, includes financial assets such as stocks and bonds, as well as illiquid assets such as real estate and land, net of corresponding liabilities.

It is worth noting thatHong Kong has performed particularly well in terms of wealth growth.

According to the latest UBS Global Wealth Report.The average wealth of adults in Hong Kong reaches about US$582,000 in 2023.Up 5.5% from the previous year, rankedworld's third largest, behind Switzerland ($710,000) and Luxembourg ($608,000).

Hong Kong's wealth has grown significantly, thanks to itsFinancial center status, thriving wealth management industry and excellent business environment. 👇
Advantages of Doing Business in Hong Kong

❶ Asia Strategy Center;

❷ Prioritize access to Mainland China;

❸ The simplicity and efficiency of registering a company;

❹ A simple and transparent tax system;

❺ A free business paradise;

❻ The Hong Kong dollar is closely linked to the US dollar;

❼ Excellent banking and financial system;

❽ An excellent and diverse workforce;

❾ Core members of the Greater Bay Area;

➓ Full ownership by the foreign investor.

at the same timeAdvantages of Hong Kong IdentityAlso to its credit, Hong Kong's "Talent Grabbers" program has reaped a full harvest, with more than 130,000 approved talents having successfully arrived in Hong Kong between early 2023 and the end of June this year. 👇

Advantages of Hong Kong Identity

01. Freedom of identity

No need to wait for 7 years to enjoy the same education and medical benefits as Hong Kong permanent residents. Children born in Hong Kong can obtain Hong Kong permanent resident status directly.

02. Welfare freedom

Before applying for the Home Visit Permit, they can retain their mainland status and household registration and enjoy the dual benefits of the two places.

03. Freedom of education

Fifteen years of free Chinese and English education, can be enrolled in purely expatriate international schools, participate in the DSE examination and the Exemption Scheme for Mainland Universities, and enjoy the advantage of lower scores for admission to prestigious Mainland schools through the Joint Entrance Examination for Overseas Students from Hong Kong, Macao, Taiwan and the Chinese Communities (JEE).

04. Freedom to do business

No foreign exchange control, narrow tax base, few tax types, simple tax law, preferred tax resident status. Easy to set up international companies locally, low business costs, and enjoy foreign investment treatment in the Mainland.

05. Visa-free freedom

The issuance of a SAR passport allows visa-free access to 172 countries and territories, and the legal possession of passports from other countries (as a travel document).

Overall, Hong Kong's performance in the growth of global wealth has been very impressive. With the continued accumulation of financial assets and positive expectations for the next few years, theHong Kong is expected to occupy a more important position in the global wealth map.

By optimizing financial services and upgrading wealth management, Hong Kong will not only be able to attract more HNWIs, but will also be able to play a greater role in global wealth distribution.

If you have wealth management needs or are interested in applying for a Hong Kong identity, please feel free to enquire!