7 in 10 wealth owners keep assets in at least 2 countries: survey

The report surveyed 13,500 individuals with a net worth between $3m and $99m.

The report surveyed 13,500 individuals with a net worth between $3m and $99m.

Over 7 in 10 (71.4%) of wealth owners concentrate their assets within one or two countries, which may complicate compliance with Know Your Customer (KYC) regulations, according to a survey by Owner.One.

Of this, 43% said that they are unaware of the KYC requirements necessary for proving ownership continuity.

Almost half (47%) of the respondents said they keep all their capital and assets in a single country, while only 22% have distributed their wealth across three to four countries.

Whilst 30% understand and file the necessary documents, 21% have encountered issues and now maintain these documents more diligently.

A fifth of wealth successors recognise the need to improve their KYC compliance efforts, both for themselves and the original capital founders.

Moreover, 73% of private transactions by individuals under compliance restrictions ranged from $134,000 to $4m, which indicates the stringent scrutiny faced by High-Net-Worth and Ultra-High-Net-Worth individuals in their financial dealings.

Wealth Management

Can't Login? Sign up for an account

Email address The email address is not made public. It will only be used if you need to be contacted about your account or for opted-in notifications.

Password

Confirm password

Provide a password for the new account in both fields.

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Already have an Asian Banking & Finance account? Login

Can't log in?

Return to login

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit