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Hong Kong Trust Services
Trusts in Hong Kong have more than 100 years of history but the amendment of the Hong Kong Trustee Ordinance (HKTO) and related legislation in 2013 was a milestone for the industry, it modernised Hong Kong’s trust regime and put the territory back on the map as a key trust jurisdiction.
Some of the main developments after the amendment of the HKTO include:
- The availability of reserved power trusts. As a result, settlors who are not comfortable handing over full control of their investment decisions to trustees can retain control over the assets of trust.
- The possibility of setting up a trust in perpetuity.
- The prohibition to enforce forced heirship rules (e.g. in favour of spouse and/or children) of foreign jurisdictions.
There is an ongoing conscious effort from the Hong Kong government to improve not only the regulation, but also the business environment and overall infrastructure for trusts to thrive as a business solution.
Most settlors choose to appoint a professional trust company with local experience in trust formation and management to ensure the proper set up and management of the trust. Our trust specialists will assess your needs and propose the trust structure that best suits your requirements, ensuring ongoing compliance with applicable legislation and all relevant reporting and disclosure regulations.
Our services include:
- Trust set up, trustee and administration services
- Associated trust services, including accounting, incorporation and management of underlying companies, liaison with beneficiaries, etc
- Executor services
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The job of a good trustee is to comply with the fiduciary duties imposed by law, to avoid conflicts of interest and to achieve the highest standard of care in the administration of a trust. Our clients know that this requires skill, knowledge and experience – things we are able to provide
Senior trust officer, Hong Kong office