Tax News & Updates

📋 Key Facts at a Glance Free Port Status: Hong Kong imposes no general customs duties on most imports and exports Four Dutiable Commodities: Excise duties...

As wealth concentration reaches unprecedented levels in Asia, ultra-high-net-worth families are facing a critical decision: Where to set up a family office for optimal tax efficiency? Hong Kong and Singapore have become the top two destinations in the region, each offering advanced financial infrastructure and well-designed tax systems. Entering 2024, this competition has become even more intense, as both places continue to optimize their policies to attract the world's richest families. This article will provide an in-depth analysis of the core differences between the two hubs...

With a series of sophisticated tax incentives, Hong Kong has been strategically positioned as Asia's premier family office and investment fund hub. Through the unified fund exemption regime, tax incentives specifically designed for family investment control vehicles, and enhanced carried interest provisions, Hong Kong provides one of the most competitive tax environments for wealth management in the region. This article will take an in-depth look at these systems and the transformative reform proposals proposed by the end of 2024 that may reshape Hong Kong...