HONG KONG

What are the advantages of the jurisdiction for Chinese investors? Hong Kong (HK) as a window to work with international companies. A lot of international firms like to set up office in HK in order to trade with Mainland China, therefore is easier to communicate with them in HK. HK has good reputation in the world; foreigners are more willing to trade with HK Company and build up good image for it. HK is an international finance centre with a wide range of financing channels, easy borrowing and financing. Funds parking in HK can increase the flexibility of its utilizing....

CORPORATE & FIDUCIARY JURISDICTION 2020

Trust is a legal contract. The settlor transfers the assets to the trustee, and the trustee needs to hold and manage the assets for the beneficiary according to the wishes of the settlor and the trustee can arrange the property effectively to the designated beneficiary. Set up Trust is becoming more and more popular, and the cost of setting up is becoming democratized. The banks can also set up a simple trust structure for its customers. Family Trust Can Give Full Play to Different Guarantees Family trust is often misunderstood as the asset allocation agreement set up for the family...

CORPORATE & FIDUCIARY EXPERT INSIGHTS 2020

Country: Hong Kong Region: Asia Currency: Hong Kong Dollar (HKD) (HK$) Languages: Cantonese, Putonghua, English Time Zone: UTC +8 Phone Code: +852 Communications: Excellent Formation Cost:  2000 - 2800 USD$ Formation Time:          12 - 20 days Maintenance cost:  600 - 1200 USD$ Hong Kong has thrived historically as a trading entrepôt serving many Asia Pacific countries and also as a low-cost manufacturing center, and has turned towards the provision of services, particularly financial, professional and logistic services. Its economic success is largely based on a whole-hearted adherence to free and open trade, the values encompassed in a British common law...

2020

Executive Summary:Hong Kong has thrived historically as a trading entrepot serving many Asia Pacific countries and also as a low-cost manufacturing centre, and has turned towards the provision of services, particularly financial services. Its economic success is largely based on a whole-hearted adherence to free and open trade, the values encompassed in a British common law legal system and a laissez-faire, non-interventionist attitude on the part of government. There are few if any significant barriers to investment by foreigners. The government has consistently followed business friendly policies and continues to do so.It is not an 'offshore' jurisdiction as such, but...

2020

Introduction Whether it is for the purposes of resisting the pressure of inflation, choosing a more sound investment channel with lower costs, or seeking funds with a higher rate of return and greater potential, private equity managers in mainland China are now confronted with urgent but hard-to-satisfy demand for “going abroad plans” to provide enterprises and high-net-worth clients with global wealth configuration schemes. Plans for “going abroad” developed by private equity managers may be based on overseas financial products like Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and Qualified Domestic Institutional Investor (QDII). Due to the shortage of channels,...

FUNDS & FUNDS SERVICES EXPERT INSIGHTS 2019

The global campaign to combat money laundering and prevent tax avoidance is in full swing. CRS makes every high net worth individual feel insecure. At the end of last year, the first external exchange of tax-related information of financial accounts owned by non-residents was conducted among mainland China, Hong Kong and Macao. Meanwhile, financial supervisory authorities strengthened the efforts to combat money laundering. As a response, all major banks began to conduct due diligence one after another, raise the threshold to open offshore accounts, and freeze a great number of offshore accounts with suspicious acts. At present, it is hard...

PRIVATE & INTERNATIONAL BANKING NEWS 2019

Industry research suggests that China will soon rank first in the world as a source of new incorporations. Traditionally, which regions of the world has your jurisdiction been most popular for? What types of business activity is most suitable for incorporating in your jurisdiction? As widely known, Hong Kong is one of the six international financial centers with strong reputation and high credibility. It remains the first place in the 2019 Global Economic Freedom Index. The business scope of Hong Kong companies is very wide with few restrictions. Today, trading and service companies are the most (widely/commonly) established companies in...

CORPORATE & FIDUCIARY JURISDICTION 2019

The number of small and medium-sized foreign trade enterprises increases sharply. For foreign trade enterprises, the best way to receive cross-border payment is to set up offshore account. Offshore account can only be opened in the name of offshore company. Hong Kong is the most effective springboard to enter international market. Besides, since Hong Kong is not controlled by the Foreign Exchange Bureau, foreign currencies can move into and out of Hong Kong freely. A number of small and medium-sized foreign trade enterprises choose to incorporate an offshore company and to an open offshore account in Hong Kong. Recently, a...

CORPORATE & FIDUCIARY OVERVIEW - EXECUTIVE SUMMARY 2019

1. Industry research suggests that China will soon rank first in the world as a source of clients. Have you experienced an increase in demand for your company incorporation services from this region? The demand from Chinese clients has seen a significant increase during the past few years. However, we expect a plateau, or even a slight decrease, in line with the policy and economic changes in early 2015. 2. What is the single most important advantage your jurisdiction provides for Chinese clients? 1) Hong Kong has well-established systems which provide a positive image for Chinese enterprises.2) As Hong Kong is an international...

CORPORATE & FIDUCIARY JURISDICTION 2015