The mega rich are getting richer.
Last year, there were a record-breaking 12 million people around the world who were millionaires, with the US experiencing the biggest jump in super-rich residents.
Foreign banks turn away U.S. millionaires
UBS, the world’s biggest non-U.S. private bank, said in 2008 it would discontinue offshore accounts for U.S. citizens.
Some of the world’s largest wealth-management firms are wanting American millionaires to go away ahead of Washington’s implementation of the Foreign Account Tax Compliance Act, known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts. HSBC, Deutsche Bank, Bank of Singapore and DBS Group all say they have turned away business.
Continue reading… “Foreign banks turn away U.S. millionaires”
Where America’s millionaires live
Fisher Island, Florida is home to a dense collection of yachts and millionaires.
Where do this country’s most prosperous citizens hang out? How much money do they have? President Obama wants them to pay a bit more in taxes. But how much are they coughing up now?
Continue reading… “Where America’s millionaires live”
What’s at the top of wish list for China’s wealthiest? To leave China
Goldlink Go-Abroad Consulting Co., an immigration consulting firm in Bejing assists Chinese to immigrate to Canada and the United States.
One of the people powering China’s economy on its path to becoming the world’s biggest is Chines millionaire Su, who builds skyscrapers in Bejing.
Continue reading… “What’s at the top of wish list for China’s wealthiest? To leave China”
