The long-awaited tax concession scheme for family offices in Hong Kong was passed and came into effect on 19 May 2023 ("Scheme"). It applies retrospectively to years of assessment commencing on or after 1 April 2022. For more details on the Scheme please see our earlier articles: here and here.

One later-stage revision to the Scheme was the relaxing of the ownership threshold by family members of eligible entities from 95% to 75% if a Hong Kong tax exempt charity (or charities) holds the rest of the beneficial interest of the family office structure.

This move is much welcomed and in line with Hong Kong government's recent announcement to develop Hong Kong into a philanthropic centre. The government's policy statement released in March 2023 set out a series of measures that the territory would take to support and attract more family offices and family wealth to come to Hong Kong ("FO Policy Statement").

期待已久的香港家族办公室税收宽减计划（“计划”）终获通过，并于2023年5月19日起正式生效。该计划可追溯至2022年4月1日或之后的课税年度。关于该计划的更多细节，请详阅我们之前的文章：《香港拟推出的家族办公室税收豁免机制：一览与比较》及《香港拟推出的家族办公室税收豁免机制修正案：要点一览》。

作为该计划的一项后期修订，修订规定如果享有税收豁免资格的一个或多个香港慈善团体持有家族财富控权架构的实益权益，则对于“家族成员”实益权益的要求可由95%放宽至75%（即慈善团体对家族财富控权架构的实益权益可以达到25%）。

我们欢迎上述修订，同时这修订与香港特区政府近期在2023年3月发布的香港将吸引和支持更多的家族财富及家族办公室来到香港的新政策宣言（“FO政策声明”）中表示将香港发展成为慈善中心的目标相一致。

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