Offshore Centres: 2012 Private Banking Handbook





 

 

 

NEW YORK, Oct. 22, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Offshore Centres: 2012 Private Banking Handbook
http://www.reportlinker.com/p01017503/Offshore-Centres-2012-Private-Banking-Handbook.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Private_Banking

Synopsis
This report is the result of WealthInsight's extensive research covering the global wealth management market.

Summary
This report reviews major offshore financial centers and assesses each of their wealth management capabilities. "Wealth management" is defined as the provision of banking services to wealthy individuals and their families. It generally involves the management of trusts, inheritance and the allocation of client funds.

Scope
The report features:
• Offshore centres ranked by wealth management AuM
• Detailed profiles on 18 offshore wealth management centres
• Leading private banks, family offices and wealth managers in each offshore centre and country wise regulations
• Details of the development, challenges and opportunities of the Wealth Management sector in each centre
• Selected city wise ratings of wealth management saturation and potential
• Case Studies on Chinese offshore wealth, UK non-dom wealth and the global clientele model
• Detailed wealth management and family office information

Reasons To Buy
• The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the Database comprises profiles on major private banks, wealth managers and family offices in each country.
• The WealthInsight Intelligence Center Database also includes up to one hundred data-points on over 100,000 HNWIs from around the world.
• With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.

Key Highlights
• The global private banking industry has AuM of US$19.3 trillion. Offshore centers account for 42% or US$8.3 trillion on this total.
Switzerland is the largest worldwide player with AuM of US$2.8 trillion. The bulk (over 80%) of funds held in Switzerland are held for foreign clients.
Singapore is the fastest growing wealth center in the world with AuM of US$550 billion at the end of 2011 compared to US$50 billion in 2000.
• WealthInsight expects Singapore to overtake Switzerland by 2020 to become the largest global offshore wealth center by AuM. This will be fuelled by a movement of funds away from Switzerland, Luxemburg and the Caribbean and towards Singapore. Furthermore, high growth in HNWIs in APAC countries such as China, India and Indonesia, which are among the largest investors in Singapore, will further boost AuM.
China's private banking AuM accounts for only 1% of total Chinese HNWI wealth in 2011, which is well below the worldwide average of 29% (worldwide private banking AuM stood at US$19.3 trillion at the end of 2011 compared to worldwide HNWI wealth of US$66 trillion).

Companies Mentioned
UBS
Credit Suisse
Pictet & Cie.
Julius Baer
Lombard Odier
Clariden Leu
EFG International
Banca Della
Union Bancaire
Sarasin
Zurcher
Vontobel
St Galler
Wegelin & Co.
Dreyfus Sohne & Cie.
Scobag
Mirabaud & Cie
Jacob Safra
Falcon
Syz & Co.
HSBC
Credit Agricole
Coutts
BNP
Deutsche
JP Morgan
SG
LGT
Citibank
ABN Amro
Santander
Rothschild
Bank of America Merrill Lynch
Barclays Wealth
Goldman Sachs
Morgan Stanley



Table of Contents
Introduction
1.1 What is this Report About?
1.2 Definitions
2 Summary
3 The Bahamas
3.1 Competitive Landscape of the Wealth Sector
3.1.1 Private banks
3.1.2 Wealth managers
3.1.3 Family offices
3.2 Regulations in the Bahamas
3.2.1 Regulatory bodies
3.2.2 Exchange controls
3.2.3 Banking regulations
3.2.4 Regulations on Taxes
3.2.5 Regulations on wealth management and private banking
3.2.6 Regulations related to immigration, investment and employment
4 Bermuda
4.1 Competitive Landscape of the Wealth Sector
4.2 Leading Players in the Bermudian Wealth Management and Private Banking Industry
4.2.1 Private banks
4.2.2 Wealth managers
4.2.3 Family offices
4.2.4 Financial service review
4.3 Regulatory Bodies
4.4 Banking Regulations
4.5 Regulations on Taxes
4.6 Regulations on Wealth Management and Private Banking
4.7 Regulations Related to Immigration, Investment and Employment
5 British Virgin Islands
5.1 Competitive Landscape of the Wealth Sector
5.2 Leading Players in the British Virgin Island Wealth Management and Private Banking Industry
5.2.1 Private Banks
5.2.2 Wealth managers
5.2.3 Family offices
5.3 Regulatory Bodies
5.4 Banking Regulations
5.5 Regulations on Taxes
5.6 Regulations on Wealth Management and Private Banking
5.7 Regulations Related to Immigration, investment and Employment
6 Cayman Islands
6.1 Competitive Landscape of the Wealth Sector
6.2 Leading Players in the Cayman Island Wealth Management and Private Banking Industry
6.2.1 Private banks
6.2.2 Wealth managers
6.3 Regulatory Bodies
6.4 Banking Regulations
6.5 Regulations on Taxes
6.6 Regulations on Wealth Management and Private Banking
6.7 Regulations Related to Immigration, Investment and Employment
7 Cyprus
7.1 Competitive Landscape of the Wealth Sector
7.2 Leading Players in Cyprus Wealth Management and Private Banking Industry
7.2.1 Private banks
7.2.2 Wealth managers
7.2.3 Family offices
7.3 Regulatory Bodies
7.4 Banking Regulations
7.5 Regulations on Taxes
7.6 Regulations on Wealth Management and Private Banking
7.7 Regulations Related to Immigration, Investment and Employment
8 Guernsey
8.1 Competitive Landscape of the Wealth Sector
8.2 Leading Players in Guernsey Wealth Management and Private Banking Industry
8.2.1 Private banks
8.2.2 Wealth managers
8.2.3 Family offices
8.3 Regulatory Bodies
8.4 Banking Regulations
8.5 Regulations on Taxes
8.6 Regulations on Wealth Management and Private Banking
9 Hong Kong
9.1 Competitive Structure
9.1.1 Wealth management and private banking industry – competitive structure
9.1.2 Multinational corporations
9.1.3 Chinese banks
9.1.4 Local Hong Kong banks
9.1.5 Wealth managers
9.1.6 Private banks
9.1.7 Joint ventures
9.1.8 Boutique and independent financial advisors
9.1.9 Trusts
9.2 Family Offices
9.2.1 Hybrid family offices
9.2.2 Multi-family offices
9.2.3 Single-family offices
9.3 Leading Companies in the Wealth Management and Private Banking Industry
9.4 Pertinent Regulations
9.4.1 Regulations on banks
9.4.2 Regulations on foreign banks
9.4.3 Regulations on real estate
9.4.4 Regulations on foreign investment
9.4.5 Regulations on capital investment
9.4.6 Regulations on leverage buyouts and M&A
9.4.7 Regulations on hedge funds and derivatives
9.4.8 Regulations related to taxes
9.5 Offshore Wealth Management and Private Banking Industry
10 Isle of Man
10.1 Competitive Landscape of the Wealth Sector
10.2 Leading Players in the Isle of Man Wealth Management and Private Banking Industry
10.2.1 Private banks
10.2.2 Wealth managers
10.2.3 Family offices
10.3 Regulatory Bodies
10.4 Banking Regulations
10.5 Regulations on Taxes
10.6 Regulations on Wealth Management and Private Banking
10.7 Regulations Related to Immigration, Investment and Employment
11 Jersey
11.1 Competitive Landscape of the Wealth Sector
11.2 Leading Players in Jersey Wealth Management and Private Banking Industry
11.2.1 Private banks
11.2.2 Wealth managers
11.2.3 Family offices
11.3 Regulatory Bodies
11.4 Banking Regulations
11.5 Regulations on Taxes
11.6 Regulations on Wealth Management and Private Banking
11.7 Regulations Related to Immigration, Investment and Employment
12 Liechtenstein
12.1 Competitive Landscape of the Wealth Sector
12.2 Leading Players in the Liechtenstein Wealth Management and Private Banking Industry
12.2.1 Private banks
12.2.2 Wealth managers
12.2.3 Family offices
12.2.4 Financial service review
12.3 Regulatory Body
12.4 Banking Regulations
12.5 Regulations on Taxes
12.6 Regulations on Wealth Management and Private Banking
12.7 Regulations Related to Immigration, Investment and Employment
13 Luxembourg
13.1 Competitive Landscape of the Wealth Sector
13.2 Leading Players in the Luxembourg Wealth Management and Private Banking Industry
13.2.1 Private banks
13.2.2 Wealth managers
13.2.3 Family offices
13.2.4 Financial service review
13.3 Regulatory Bodies
13.4 Banking Regulations
13.5 Regulations on Taxes
13.6 Regulations on Wealth Management and Private Banking
13.7 Regulations Related to Immigration, Investment and Employment
14 Mauritius
14.1 Competitive Landscape of the Wealth Sector
14.2 Leading Players in the Mauritius Wealth Management and Private Banking Industry
14.2.1 Private banks
14.2.2 Wealth managers
14.2.3 Financial service review
14.3 Regulatory Bodies
14.4 Banking Regulations
14.5 Regulations on Taxes
14.6 Regulations on Wealth Management and Private Banking
14.7 Regulations Related to Immigration, Investment and Employment
15 Monaco
15.1 Competitive Landscape of the Wealth Sector
15.2 Leading Players in the Monaco Wealth Management and Private Banking Industry
15.2.1 Private banks
15.2.2 Wealth managers
15.2.3 Family Offices
15.2.4 Financial service review
15.3 Regulatory Bodies
15.4 Banking Regulations
15.5 Regulations on Taxes
15.6 Regulations on Wealth Management and Private Banking in Monaco
15.7 Regulations Related to Immigration, Investment and Employment
16 New Zealand
16.1 Competitive Landscape of the Wealth Sector
16.2 Leading Players in the New Zealand Wealth Management and Private Banking Industry
16.2.1 Private banks
16.2.2 Wealth managers
16.2.3 Family offices
16.3 Regulatory Bodies
16.4 Banking Regulations
16.5 Regulations on Taxes
16.6 Regulations on Wealth Management and Private Banking
16.7 Regulations Related to Immigration, Investment and Employment
17 Panama
17.1 Competitive Landscape of the Wealth Sector
17.2 Leading Players in the Panama Wealth Management and Private Banking Industry
17.2.1 Private banks
17.2.2 Wealth managers
17.3 Regulatory Bodies
17.4 Banking Regulations
17.5 Regulations on Taxes
17.6 Regulations on Wealth Management and Private Banking
17.7 Regulations Related to Immigration, Investment and Employment
18 Singapore
18.1 Competitive Structure
18.1.1 Wealth management and private banking industry – competitive structure
18.1.2 Multinational banks
18.1.3 Local banks
18.1.4 Wealth managers
18.1.5 Private banks
18.1.6 Mergers and joint ventures
18.1.7 Boutique and independent financial advisors
18.1.8 Private trusts
18.2 Family Offices
18.2.1 Multi-family offices
18.2.2 Single-family offices
18.3 Leading Companies in the Wealth Management and Private Banking Industry
18.4 Singapore: An International Offshore Hub
18.5 Pertinent Regulations
18.5.1 Regulations on banks
18.5.2 Regulations related to Islamic banking
18.5.3 Regulations related to capital requirements on banks
18.5.4 Regulations related to taxes
18.5.5 Regulations related to taxes on capital gains
18.5.6 Regulations related to taxes on start-ups
18.5.7 Regulations related to taxes on fund management activities
18.5.8 Regulations related to fund management
18.5.9 Regulations related to real estate
18.5.10 Regulations related to the real estate business of a bank
18.5.11 Regulations related to foreign investment
18.5.12 Regulations related to capital investment
18.5.13 Regulations related to private equity (PE) and venture capital investment (VC)
18.5.14 Regulations related to hedge funds and fund management
18.5.15 Regulations related to hedge fund subscription requirement
18.5.16 Regulations related to investment and employment in Singapore
19 Switzerland
19.1 Competitive Landscape
19.1.1 Local private banks
19.1.2 Foreign private banks
19.1.3 Wealth managers
19.1.4 Wealth management in each city
19.1.5 Family offices
19.1.6 Financial advisors
19.2 Developments in the Swiss Private Banking Industry
19.3 Case Study: Global Top 10 Private Banks
19.4 Additional Components to the Wealth Sector in Switzerland
19.4.1 Philanthropy
19.4.2 Intergenerational wealth transfer
19.5 Regulatory Environment in Switzerland
19.5.1 Regulations on taxes
19.5.2 Banking regulations
19.5.3 Investment, employment and immigration
20 United Arab Emirates
20.1 Competitive Landscape of the Wealth Sector
20.2 Leading Players in the UAE Wealth Management and Private Banking Industry
20.2.1 Private banks
20.2.2 Wealth managers
20.2.3 Family offices
20.3 Regulatory Bodies
20.4 Banking Regulations
20.5 Regulations on Taxes
20.6 Regulations on Wealth Management and Private Banking in UAE
20.7 Regulations Related to Immigration, Investment and Employment
21 United Kingdom
21.1 Leading Companies in the Wealth Management and Private Banking Industry
21.1.1 Private banks and wealth managers
21.1.2 Family offices
21.2 Developments in the UK Private Banking Industry
21.3 Cities, Counties and Regions
21.4 Education 196
21.5 Philanthropy 197
21.6 Demand for Intergenerational Wealth Transfer and Younger Clientele 197
21.7 Regulatory Environment in the UK 198
21.7.1 Regulations on Non-domiciled Residents 198
21.7.2 Banking Regulations 199
21.7.3 Regulations on Taxes 200
21.7.4 Regulations on Fund Management 201
21.7.5 Regulations on Foreign Investment 201
21.7.6 Regulations on Real Estate 201
21.7.7 Regulations on foreign investment in real estate 202
21.7.8 Regulations on wealth management and private banking 202
21.7.9 Regulations related to investment and employment 202
22 The Wealth Sector – Clientele Model 203
23 Case Study: Chinese Offshore Wealth 204
24 Case Study: Non-Domiciled UK Wealth 207
24.1 Non-domiciled UHNWI Volume Growth 208
24.2 Non-domiciled Billionaires in the UK 209
25 About WealthInsight 210

List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Global: Offshore Centers by AuM, In US$ Billions, 2011
Table 3: Global: Major Countries by AuM, in US$ Billions, 2011
Table 4: Global: AuM Compared to HNWI Wealth per Major Country, in US$ Billions, 2011
Table 5: Global: Other Countries by AuM, in US$ Billions, 2011
Table 6: The Bahamas: Regional Data, 2011
Table 7: The Bahamas: Wealth Managers
Table 8: The Bahamas: Emerging Cities in Wealth Management
Table 9: The Bahamas: Capital Requirements for Banks in under Public Category
Table 10: The Bahamas: Capital Requirements for Banks in under Restricted Category
Table 11: The Bahamas: Owner Occupied Property Tax Rate
Table 12: The Bahamas: Other Property Tax Rate
Table 13: Bermuda: Regional Data
Table 14: Bermuda: Wealth Managers
Table 15: Bermuda: Emerging Cities in Wealth Management
Table 16: Bermuda: Payroll Tax Rates for 2012
Table 17: Bermuda: Exempted Companies, 2012
Table 18: Bermuda: Local Companies, 2012
Table 19: Bermuda: Inheritance Tax Bracket, 2012
Table 20: British Virgin Islands: Regional Data
Table 21: British Virgin Islands: Wealth Managers
Table 22: Cayman Islands: Regional Data
Table 23: Cayman Islands: Emerging Cities in Wealth Management
Table 24: Cayman Islands: Wealth Managers
Table 25: Cayman Islands: Business License and Fees for 2012
Table 26: Cyprus: Regional Data
Table 27: Cyprus: Wealth Managers
Table 28: Cyprus: Emerging Cities in Wealth Management
Table 29: Cyprus: Income Tax Structure for 2012
Table 30: Guernsey: Regional Data
Table 31: Guernsey: Wealth Managers
Table 32: Guernsey: Emerging Cities in Wealth Management
Table 33: Hong Kong: Regional Data, 2011
Table 34: Hong Kong: Main Companies in the Hong Kong Wealth Management Industry
Table 35: Hong Kong: Main Companies in the Hong Kong Wealth Management Industry
Table 36: Isle of Man: Regional Data
Table 37: Isle of Man: Wealth Managers
Table 38: Isle of Man: Emerging Cities in Wealth Management
Table 39: Isle of Man: Income Tax Rates, 2012
Table 40: Jersey: Regional Data
Table 41: Jersey: Wealth Managers
Table 42: Liechtenstein: Regional Data
Table 43: Liechtenstein: UHNWIs – Private Banks Assets, in US$ Millions, 2011
Table 44: Liechtenstein: Wealth Managers
Table 45: Liechtenstein: Emerging Cities in Wealth Management
Table 46: Liechtenstein: Income Tax Rates, 2012
Table 47: Luxembourg: Regional Data, 2011
Table 48: Luxembourg: Top Private Banks ranked by their AuM, 2011
Table 49: Luxembourg: Wealth Managers
Table 50: Luxembourg: Emerging Cities in Wealth Management
Table 51: Luxembourg: Income Tax Rates, 2012
Table 52: Mauritius: Regional Data
Table 53: Mauritius: Wealth Managers
Table 54: Mauritius: Emerging Cities in Wealth Management
Table 55: Mauritius: Income Tax Exemptions
Table 56: Monaco: Regional Data
Table 57: Monaco: Wealth Managers
Table 58: Monaco: Emerging Cities in Wealth Management
Table 59: New Zealand: Regional Data, 2011
Table 60: New Zealand: Wealth Managers
Table 61: New Zealand: Emerging Cities in Wealth Management
Table 62: New Zealand: Income Tax Brackets in New Zealand, in NZD, 2012
Table 63: Panama: Regional Data, 2011
Table 64: Panama: Wealth Managers
Table 65: Panama: Emerging cities in Wealth Management
Table 66: Panama: Income Tax Rates for Individuals, 2012
Table 67: Panama: Property Tax Rates for Individuals, 2012
Table 68: Singapore: Regional Data, 2011
Table 69: Singapore: Major Companies in the Wealth Management Industry
Table 70: Switzerland: Regional Data, 2011
Table 71: Switzerland: Top 20 Swiss Private Banks by AuM, 2011
Table 72: Switzerland: Private Banks by Number of Branches and Head Office, 2011
Table 73: Switzerland: Private Bank Branches by City, 2011
Table 74: Switzerland: Top Foreign Private Banks by Swiss AuM, in US$ Billion, 2011
Table 75: Switzerland: Wealth Management Companies by City, 2011
Table 76: Switzerland: Wealth Management companies by City, 2011
Table 77: Switzerland: Asset Allocation of Typical European Single Family Office, 2011
Table 78: Switzerland: Single and Multi-Family Offices
Table 79: Switzerland: Wealth Management Industry – Recent Deal Activity
Table 80: Global: Top 10 Private Banks by Global AuM and New Money, 2011
Table 81: United Arab Emirates: Regional Data, 2011
Table 82: United Arab Emirates: Wealth Managers
Table 83: United Arab Emirates: Emerging Cities in Wealth Management
Table 84: UK: Regional Data, 2011
Table 85: UK: Major Companies in the Wealth Management Industry
Table 86: UK: Major Cities in Wealth Management
Table 87: UK: Potential Cities for Wealth Management
Table 88: UK: Major Multi-Family Offices
Table 89: UK: Major Single-Family Offices
Table 90: UK: UHNWIs – Recent Deal Activity, in US$ Millions, 2010-2011
Table 91: UK: 10 Largest Cities by Population and Number of UHNWIs



List of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: The Bahamas: Map of the Country
Figure 3: Bermuda: Map of the Country
Figure 4: British Virgin Islands: Map of the Country
Figure 5: Cayman Islands: Map of the Country
Figure 6: Cyprus: Map of the Country
Figure 7: Guernsey: Map of the Country
Figure 8: Hong Kong: Map of Country
Figure 9: Isle of Man: Map of the Country
Figure 10: Jersey: Map of the Country
Figure 11: Liechtenstein: Map of the Country
Figure 12: Luxembourg: Map of the Country
Figure 13: Mauritius: Map of the Country
Figure 14: Monaco: Map of the Country
Figure 15: New Zealand: Map of the Country
Figure 16: Panama: Map of the Country
Figure 17: Singapore: Map of the Country
Figure 18: Switzerland: Map of the Country
Figure 19: United Arab Emirates: Map of the Country
Figure 20: UK: Map of the Country
Figure 21: Wealth Management Industry – Maturity Level Of Players
Figure 22: UK: Non-domiciled UHNWIs – Country-wise Share, 2011
Figure 23: UK: Non-domiciled UHNWIs – Volume Growth, 2007–2011
Figure 24: UK: Non-domiciled Billionaires – Country-wise Share, 2011





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Offshore Centres: 2012 Private Banking Handbook

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