• Home
  • News
  • The proposed family office tax exemption regime in Hong Kong: a comparative view

04 Apr 2023

The proposed family office tax exemption regime in Hong Kong: a comparative view

Linkedin

Hong Kong seems determined to go "head to head" with Singapore in attracting global family offices to bring their wealth to the city. On March 24 2023, the Hong Kong government issued a new Policy Statement on Developing Family Business in Hong Kong, on the same day when the inaugural closed-door "Wealth for Good in Hong Kong" summit which was reportedly attended by over 100 global family office representatives was held.

In a previous briefing note, we discussed the licensing requirements for family offices under the Securities and Futures Ordinance in Hong Kong. In this article we provide a high level comparison between Hong Kong's proposed profits tax concessions for family-owned investment vehicles (the "HK Scheme") and Singapore's Sections 13O and 13U tax exemption schemes for family offices (collectively, the "Singapore Scheme") with a view to assisting high net worth ("HNW") families to find the legal structures that best suit their wealth preservation needs and long term objectives.

Click here to read more.

点击此处阅读中文版本

Linkedin

KEY CONTACT

Wei Kang

Wei Kang
Partner

T:  +852 2533 2727 M:  Email Wei | Vcard Office:  Hong Kong

Kevin Lee

Kevin Lee
Partner

T:  +852 2533 2843 M:  Email Kevin | Vcard Office:  Hong Kong

Yi Lee

Yi Lee
Managing associate

T:  +65 6622 9562 M:  +65 9880 5935 Email Yi | Vcard Office:  Singapore

Tze-wei Ng

Tze-wei Ng
Associate

T:  +852 2533 2754 M:  Email Tze-wei | Vcard Office:  Hong Kong