Corporate & Securities partner Paul Moloney and counsel Helen Wang (both Hong Kong) are quoted in IFLR discussing tax benefits and regulations for family offices in Hong Kong.
As Hong Kong’s securities law does not define “family office” or what constitutes a “family”, Paul says: “There is more flexibility for family offices to determine what kind of legal and operational structures to adopt to suit their objectives and needs and then assess whether their activities in Hong Kong would trigger any licensing requirement."
On SFC's published guide on licensing requirements for family offices, Paul says: “The guide is not only easy to read but also provides examples of ownership structures which do not need licensing and that gives a level of certainty and comfort to family offices and their advisers."
Helen points out that it is often the personal factors such as how easy it is to get visas for the family and the pathway to obtain permanent residency that “move the needle” for family offices.
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October 272023