A Decade of Excellence for Alpadis Group Hong Kong
Alpadis Group Hong Kong celebrates its ten-year anniversary. Last October, we marked a significant milestone in the journey of Alpadis Group Hong Kong as we celebrated our ten-year anniversary. Founded in October 2013 with a small but dedicated team, our Hong Kong office has grown from strength to strength, embodying the vision and drive that Alpadis Group is known for. A Decade of Growth and Achievement From its humble beginnings with just two staff members, the Hong Kong office has achieved remarkable growth and success. The journey began in October 2013 under the banner of Alpadis (HK) Limited, focusing on delivering top-notch corporate services. Significant milestones followed, including the establishment […]
Insights and Impacts from Hong Kong’s 2024 Budget
The 2024 Hong Kong Budget focuses on economic revitalisation through ending residential stamp duties, boosting tourism, and offering substantial tax reliefs for individuals and SMEs. The 2024 Hong Kong Budget Speech, delivered by Hong Kong Financial Secretary Paul Chan amid a backdrop of economic recalibration and post-pandemic recovery, outlines an ambitious framework aimed at revitalising the city’s financial and social landscapes. The budget acknowledged the global economic challenges and local adversities, particularly the aftermath of the pandemic. The Financial Secretary underscored the government’s commitment to economic resilience, highlighting measures to stabilise and stimulate the economy, reduce unemployment, and bolster consumer confidence. Housing Market Revitalisation and Property Reforms Significant changes include […]
Hong Kong introduces tax concessions for Family Offices to boost Wealth Management Industry
New tax incentives aim to attract Family Offices and bolster Hong Kong’s Wealth Management sector The Hong Kong government has announced tax cuts for family offices in an effort to attract wealthy families to set up or expand their businesses in the city. The government will provide tax exemptions on profits to Family-owned Investment Holding Vehicles (FIHVs) managed by a single-family office (SFO) in Hong Kong as part of a range of measures aimed at enhancing the competitive environment. After the disruptions brought on by the COVID-19 pandemic, Hong Kong is aiming to convince more family offices to open in the city as it aims to develop into a leading […]
Hong Kong Lifts Citywide Mask Mandate after Almost Three Years
City lifts nationwide mask-mandate after almost three years In a move that has been long-awaited by many Hong Kong residents, the city has lifted its citywide mask mandate. The mandate had been in place for almost three years, ever since the outbreak of the COVID-19 pandemic. The decision to lift the mandate was made by the Hong Kong government in response to the significant progress that has been made in controlling the spread of the virus in the city. According to the announcement by John Lee, the Chief Executive, the mask mandate was lifted as a result of a decrease in the number of COVID-19 cases and an increase in […]
Stimulating Growth Post-Pandemic: A Breakdown of Hong Kong’s Budget Plan for 2023
Latest Hong Kong budget plan aims to support economic recovery, address social and environmental needs, and promote long-term development The Hong Kong government has recently announced its budget plan for the fiscal year 2023, which aims to support economic recovery, address social and environmental needs, and promote long-term development in Hong Kong as it moves on from the pandemic. The plan includes various measures to drive economic activity, such as the issuance of consumption vouchers and tax reductions, as well as initiatives to support enterprises, including the establishment of an international trade centre and the expansion of the innovation and technology industry. The government also plans to invest in infrastructure […]
Hong Kong scraps most Covid-19 rules and resumes travel with China
Latest spate of announcements set to open Hong Kong up to the world following almost three years of restrictions January 5, the Hong Kong Government announced plans to resume normal travel between Hong Kong and Mainland China in phases beginning on January 8. According to the announcement, the daily transportation capacity through Hong Kong International Airport, the Hong Kong-Zhuhai-Macao Bridge (HKZMB), Hong Kong-Macau Ferry Terminal and China Ferry Terminal is expected to be around 10,000 passengers. Furthermore, the Shenzhen Bay Control Point, Man Kam To Control Point and Lok Ma Chau Spur Line/Futian Control Point will resume all passenger clearance services, with a daily one-way number of 10,000 at Shenzhen […]
Hong Kong to remove some of its last COVID-19 restrictions
COVID-19 movement controls on travellers and restrictions on some venues among measures being dropped by Hong Kong Starting on Wednesday (December 14) international passengers coming to Hong Kong will no longer be restricted in their movements or denied entry to bars and restaurants, provided they test negative for COVID-19 on arrival (however, some places may still require proof of vaccination). In addition, the requirement of scanning the LeaveHomeSafe (LHS) venue QR code before entering premises has been lifted, part of a number of COVID-19 restrictions being scaled back. International travellers are automatically placed on the ‘Blue Code’, meaning any restriction of entering restaurants, bars and other premises will be lifted. […]
Hong Kong opens back up to the world
After years of COVID-19 restrictions, Hong Kong takes steps to restore its status as Asia’s leading financial hub On September 23, 2022, Hong Kong announced a significant easing of COVID-19 restrictions for travellers arriving into the city starting from September 26, 2022. Whereas previously business travellers and tourists were required to quarantine in a hotel room for three nights at their own expense, they are now able to choose their own accommodation. Pre-departure nucleic acid testing for incoming travellers is no longer required, instead they will need to declare a negative self-arranged rapid antigen test (RAT) conducted within 24 hours prior to the scheduled time of departure via the online […]
UK to follow EU in sanctioning Russian-connected TCSPs
Hong Kong could see increase in Russian nationals seeking TCSP services The government of the United Kingdom (UK) has announced that it will be following the European Union’s (EU) decision to impose sanctions on trust and company service providers (TCSPs) who provide services for Russian nationals or entities. In May 2022 the EU announced that it would impose sanctions on EU TCSPs, restricting them from providing fiduciary and management services to trusts that were connected to Russian nationals or entities. Unless the trust settlor or beneficiary was a national of a member state, or a resident in a member state, all TCSPs were required to terminate their services. The UK […]
Hong Kong to provide extensions of stay for non-permanent residents outside of Hong Kong
New measures, brought in due to recent COVID restrictions, will allow non-permanent residents who are outside of Hong Kong to apply for an extension of stay Hong Kong is currently in its fifth wave of the COVID-19 pandemic and travel options are limited for those abroad who are wishing to return. The Hong Kong Immigration Department (ImmD) announced today that effective from 8 April 2022, non-permanent residents who are outside of Hong Kong may apply for an extension of stay. This means that they do not need to fly back into the city as part of the extension process. Previously, non-residents who are outside of Hong Kong would have to […]