Fixed assets but limited cash? Why a Life Insurance Trust may be good for you
For those with fixed assets but limited cash, Life Insurance Trusts may be a better, more flexible, and lower cost, option As the global pandemic starts to recede, many are turning their minds to protecting their loved ones. Among the many solutions out there, Life Insurance is usually a natural starting point as a means […]
Hong Kong announces HK$170 billion in support measures in 2022/23 Budget
More resources allocated to relieve people’s hardship and provide SMEs with some breathing space so as to stabilise the economy and maintain public confidence Hong Kong’s Financial Secretary Paul Chan Mo-po announced on Wednesday (February 23, 2022) the city’s latest budget that included HK$170 billion to support the economy and fight the pandemic. Hong Kong’s […]
Commencement of New Inspection Regime – Phase 1 by Hong Kong Companies Registry
First phase of regime designed to safeguard the personal data of directors and relevant individuals listed on the Companies Registry announced The Companies Registry in Hong Kong has announced the launch of the first phase of the new inspection regime. The regime is designed to protect the personal data from misuse and doxing, while also […]
Family Office sector in Hong Kong continues to expand
Wealth management sector set to further benefit with the soon to be implemented Wealth Management Connect Scheme The Family Office Association Hong Kong (FOAHK) recently announced that since its founding in November 2020, its membership has grown to over 30 single family offices and multi-family offices, with over $50 billion in AUM. This milestone reflects […]
Additional safeguards for the personal data of individuals listed on Hong Kong’s Companies Registry
Hong Kong introduces a new inspection regime designed to safeguard the personal data of directors and relevant individuals listed on the Companies Registry Hong Kong’s regulators are placing more emphasis on the importance of personal data and are implementing a new inspection regime under the Hong Kong Companies Ordinance, offering more protections for relevant individuals […]
How to choose the right corporate service provider
While every company has one and they help both small start-ups and larger multinationals, corporate service providers provide an extremely important ‘behind the scenes’ role in the operations of a company However, too often business owners will choose a corporate service provider in a hurry, based more on price than quality, almost like a box-ticking […]
Hong Kong Budget targets employment and businesses for support
Budget also raised new taxes on equity trading and private car registration fees The Hong Kong Government last week announced its 2021-22 Budget, with the Financial Secretary Paul Chan Mo-Po outlining steps towards supporting those made unemployed due to the COVID-19 pandemic and supporting local business. Here are four standout areas from the latest Hong […]
Hong Kong sees increase in number of Family Offices
Legislative changes, new licensing guidelines, government support, COVID-19 and existing ecosystem have driven growth in Family Offices in Hong Kong The number of millionaires in Hong Kong has grown in 2020, according to Citibank’s Hong Kong Affluent Study 2019/2020. As of May, Hong Kong had almost 504,000 multimillionaires with net assets of HK$10 million or above, […]
Hong Kong looks to attract more Private Equity Funds
New Limited Partnership Fund Regime is introduced to attract private investment funds (including PE and VC funds) to domicile in Hong Kong On August 31, 2020, a new Limited Partnership Fund (LPF) Regime came into effect allowing private funds to be registered in the form of limited partnerships. The new regime seeks to establish Hong […]
Discounts and fee waivers for businesses in latest Hong Kong support measures
As part of recent business support measures, the Hong Kong government is waiving annual return registration fees for two years and offering 10% discount for online company incorporations On February 26, 2020, the Hong Kong Finance Secretary, Paul MP Chan, announced several support measures for businesses and individuals to safeguard jobs and the economy. As […]