Bloomberg- Akira Sunaga runs a Japanese hedge fund and displays the rising sun of his country’s flag on company name cards. His office is in Singapore.
Sunaga chose the island state, 3,294 miles (5,300 kilometers) from Tokyo, as the best place to set up his fund a decade ago, because Japanese taxes were four times more and Singapore had a quicker approval process. Just three funds registered with the Investment Trusts Association in Japan last year, while Singapore welcomed 78 new hedge funds, data compiled by the Japanese trade group and Monetary Authority of Singapore show.
“From both a tax and regulatory stance, Singapore was the best pick,” said Sunaga, 41, who considered Hong Kong and Australia for a fund that has grown to 50 billion yen ($450 million) in more than 10 years.
