Thailand benefits from Hong Kong riots
Investment migration firm Henley & Partners has seen a three-fold increase during August in Hong Kong residents looking to relocate to Thailand.
Hong Kong had seen several months of political turmoil and riots as well as being affected by the US/China trade wars.
As a result, Thailand was a beneficiary in form of increased inbound investment from both individuals signing up for residence-by-investment program and the relocation of international companies such as Harley Davidson.
There had been initiatives by the Thai Government such as encouraging investment to enhance national competitiveness, activities that are environmentally friendly and projects that focus on regional potential.
Dominic Volek, head of southeast Asia at Henley & Partners, said there had been a 50% increase in applications for the Thailand Elite Residence Program from Asian citizens when compared to the first half of 2019. This program offered multiple-entry visas to allow applicants to visit and reside in Thailand for five to 20 years.
There had also been a three-fold increase in application from Hong King residents during August compared to the first seven months of 2019 combined.
Volek added property was an additional attraction for Chinese residents as it was more affordable to buy in Thailand than buying property in Australia or the US.
Recommended for you
TAL has introduced four new courses to its Risk Academy focused on ethical dilemmas as part of Ethics Month to help advisers meet their CPD requirements.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Financial advisers can now access Vanguard’s diversified managed account strategies on HUB24 and Netwealth, marking a “significant expansion” through new distribution channels.
The heads of two financial advice licensees have joined the board of the Financial Services Council as it looks to deepen its engagement with the space and strengthen its representation.