13 Jul 2021

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The Government published in the Gazette on 2 July 2021 the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 (the "Bills") which provide a mechanism for foreign investment funds to re-domicile and register in Hong Kong as Open-ended Fund Companies ("OFC") or Limited Partnership Funds ("LPF"). The Bills will come into operation on 1 November 2021.

The Bills ensure that the continuity of the fund is preserved upon re-domiciliation, including but not limited to making clear that the re-domiciliation does not operate to affect any contract made, property acquired by the non-Hong Kong fund nor create a new legal entity.

Please refer to our client alert "The Home Return Permit for your Foreign Funds" for a summary of the application mechanism to re-domicile in Hong Kong as OFC or LPF.

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KEY CONTACT

Penelope Shen

Penelope Shen
Partner

T:  +852 3166 6936 M:  Email Penelope | Vcard Office:  Hong Kong

Jet Tang

Jet Tang
Associate

T:  +852 3166 6937 M:  Email Jet | Vcard Office:  Hong Kong