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HomeArticleMukesh Ambani: Billionaire Mukesh Ambani is going to open family office outside...

Mukesh Ambani: Billionaire Mukesh Ambani is going to open family office outside the country, know the news

Mukesh Ambani New Office: Mukesh Ambani, the second richest man in Asia and the chairman of Reliance Industries, is now going to open his family office in Singapore. According to a report by Bloomberg, those concerned with this news have given this information. However, a Reliance Industries spokesperson declined to comment on this.

Location selected in Singapore
These people say that Mukesh Ambani has selected a manager for his new entity, who will hire and run the staff for this office. Since this matter is private, these people said on the condition of anonymity that a real estate property has also been selected for their family office in Singapore where the Ambani family office will be held.

The number of global rich is increasing in Singapore – this is the reason
The preference of the super rich people to adopt Singapore for their family office is increasing and the latest name in this episode will be that of the Ambani family. As is the name of billionaire Ray Dalio and Google co-founder Sergey Brin. Due to the low tax rates and security arrangements in this city, it is becoming an attractive destination for family offices. According to the Monetary Authority of Singapore, the number of such offices had increased to 700 by the end of 2021, from 400 the previous year.

Tax rates may increase in Singapore
However, after the efforts of the global rich to make Singapore a business hub, the prices of cars, housing and other goods are increasing here. Singapore’s deputy prime minister, Lawrence Wong, indicated in an interview in August that the rich could face higher taxes to settle here, which could lead to inclusive growth in Singapore.

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