Singapore AML guidance has been refined to clarify that property developers should apply enhanced anti-money laundering checks only to higher-risk home buyers, reinforcing a risk-based approach to customer due diligence rather than blanket scrutiny across all property transactions. In a circular, the Urban Redevelopment Authority (URA) said standard identity verification and database screening would generally be sufficient for most purchasers. Additional due diligence, includ

Family office technology is becoming a defining factor in the next stage of Hong Kong's wealth management development as increasingly sophisticated portfolios require stronger operational infrastructure alongside investment expertise. A commentary published on Wednesday said technology and operating capability, rather than capital alone, will determine how effectively family offices manage growing cross-border complexity. The report said family offices are increasingly adopti

Atlas Capital family office services have expanded following the appointment of former DBS Bank (Hong Kong) institutional banking head and alternate chief executive Alex Cheung as strategic adviser. The move supports the firm's evolution from a single-family office into an investment-led wealth management platform serving ultra-high-net-worth individuals and family offices across Asia. Hong Kong-based Atlas Capital Asset Management said it has broadened its multi-family offic

Singapore wealthy individuals continue to face the world's highest cost of living, with the city retaining its position as the most expensive location globally for high-net-worth individuals for a fourth consecutive year, according to Julius Baer's latest Global Wealth and Lifestyle Report. The Swiss private bank ranked Singapore ahead of Zurich and Monaco, while Hong Kong placed fourth, Shanghai sixth, Sydney eighth and Bangkok tenth. Asia-Pacific cities accounted for five o

The Hong Kong wealth hub is reinforcing its position as one of the world's leading centres for offshore wealth management, supported by rapid growth in family offices, recovering capital markets and stronger cross-border investment flows. According to Boston Consulting Group, Hong Kong managed USD2.95tr in offshore assets at the end of 2025, overtaking Switzerland to become the world's largest offshore wealth centre. Government figures showed the number of family offices incr