Oracle Capital Group

Should you wish to get in touch,
please email us info@orcap.co.uk
or call +44 (0) 207 725 6900
Oracle Capital Group Review
May 2015

Dear Reader

The newsletter will provide you with important changes within the company, as well as new information regarding taxes in the UK, property sales in London, art investments, top financial centres, and millionaires all over the world.

  1. UK Election Boosts Property Sales – and Strengthens Pound
  2. UK Non-Doms Now Liable for Capital Gains Tax
  3. New York, London, Are Top Financial Centres – Again
  4. Millionaire Survey: the More You Have, the More You Want
  5. Blavatnik Heads UK Rich List 2015
  6. Asia’s Rich Getting Richer Faster
  7. Four drawings by Alexander Bogomazov sold to the Kröller-Müller Museum at TEFAF
LATEST NEWS

UK Election Boosts Property Sales – and Strengthens Pound

The Conservative Party’s victory in the UK General Election on 7 May led to an immediate increase in sales of luxury property in London; but has also caused a sharp rise in the value of the pound sterling, which means that foreign buyers are having to pay more for their investment.

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UK Non-Doms Now Liable for Capital Gains Tax

By Rosie Chalmers, Head of Finance at Oracle Capital Group

A new tax year in the UK often brings with it new regulations of which investors must be aware, and the 2015-2016 tax year – which began on 6 April – is no exception. One of the most significant changes which will affect non-domiciled UK residents (“non-doms”) who are looking to sell residential property is that they will for the first time be charged Capital Gains. It is possible that in the future the upper limit will be raised.

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New York, London, Are Top Financial Centres – Again

By Konstantin Kuras, Business Development Manager

The 17th Global Financial Centres Index (GFCI), published this week, has shown that once again New York and London are the world’s two leading Financial Centres, just as they were in the previous survey. And, also as in the 16th Index, their ratings are virtually identical, with just one point separating them. Out of the 1,000 points which could be awarded, New York has a rating of 785; London 784.

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Millionaire Survey: the More You Have, the More You Want

By Konstantin Kuras, Business Development Manager

Many millionaires feel under constant pressure to make more money to maintain a certain lifestyle for themselves and their families; yet they also regret not spending more time with their families. These findings on the concerns of modern American High Net Worth Individuals (HNWIs) are revealed in a survey from UBS Investor Watch entitled, When is Enough…Enough?

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Blavatnik Heads UK Rich List 2015

Len Blavatnik, the Ukrainian-born businessman and philanthropist, has been named as the richest person in the UK, according to the latest version of the annual Sunday Times Rich List. Mr Blavatnik’s fortune has risen such in the past year that he replaced the Hinduja brothers, Sri and Gopi, who topped the list a year ago. Mr Blavatnik’s wealth is estimated by the Sunday Times at £13.17bn. The Hinduja brothers have, nonetheless, increased their fortune from last year, by £1.1bn to £13bn.

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Asia’s Rich Getting Richer Faster

By Cecilia Zheng, Business Development Executive

In 2014 the number of Ultra High Net Worth Individuals (UHNWIs) around the world increased by 3.1%; but Asia outstripped the global trend, increasing by 3.5%. These are the findings of Knight Frank, which has recently published the latest version of its annual report on the world’s wealthiest people and their trends in buying property.

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Four drawings by Alexander Bogomazov sold to the Kröller-Müller Museum at TEFAF

James Butterwick, Art advisor to Oracle Capital Group, is delighted to announce that four important works on paper by the Great Ukrainian Cubo-Futurist Alexander Bogomazov (1880-1930) were acquired during TEFAF Maastricht (March 13-22) by the Kröller-Müller Museum in the Netherlands.

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About Oracle Capital Group

Founded in 2002 and headquartered in Luxembourg, Oracle Capital Group provides comprehensive, tailored and confidential services for high-net-worth individuals and their families, including investment advisory (through the offices in Switzerland and the Bahamas), wealth structuring and asset protection, asset financing and insurance, legal case management, property development, and concierge services. Oracle Capital Group has 7 offices (London, Luxembourg, Geneva, Nassau, Moscow, Almaty and Limassol) and employs over 100 staff worldwide.
www.orcap.co.uk

Should you wish to get in touch, please email us info@orcap.co.uk or call +44 (0) 207 725 6900

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