Hong Kong replaced New York as the city with the largest ultra-wealthy population, while Bangladesh emerged as the country showing the fastest growth in UHNW
population at 17 per cent since 2012.
The white paper identified estate and inheritance taxes, along with the global drive towards tax transparency, as being among the biggest and most pressing risks for Chinese HNW and UHNW
The study shows almost flat growth in 2015 as the number of individuals with US$30 million or more in net assets grew just 0.6 percent and total UHNW
wealth increased by 0.8 percent.
"Private wealth held by UHNW
households (those with above $100mn) in Qatar is expected to grow by an impressive 14.5% in the next five years.
We found a growing interest in philanthropy among UHNW
families, notably in education, healthcare and the environment," said Dominic Samuelson, Chief Executive Officer, Campden Wealth.
"It shows that for more complex situations, CFP professionals are well equipped to handle HNW and UHNW
because of their training and professional development.
The study also reveals that 57% of the UAE's UHnw
population amassed their fortune through entrepreneurship.
On a regional basis, North America dominates the regional rankings with 61,300 UHNW
residents (50 per cent), while Europe has 29,900 (24 per cent) and 27,600 (2 per cent live in Asia Pacific countries.
The report shows that the UHNW
Residential Real Estate index tracked by Wealth-X hit a new record high of 112.1 in the first quarter of 2015, up nearly four percent from the fourth quarter of 2014, and seven percent from the first quarter of 2014.
The report, prepared by Wealth- X, a global wealth intelligence company, and Swiss financial major UBS, defines UHNW
individuals as those with total net assets of $ 30 million and above.
While the number of ultra high net worth (UHNW
) individuals with a fortune over US$30m increased, their total wealth decreased 1.3 percent to US$710bn, according to the aACAyWorld Ultra Wealth Report 2012-2013aACAO compiled by Singapore-based Wealth X consultancy firm.
Outstanding Private Bank for UHNW
Clients 2011: J.P.