Xu Zhengyu: The Hong Kong government is drafting a bill to amend family office tax exemptions, involving virtual assets, private lending, etc.

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PANews
3 days ago
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PANews reported on March 30 that according to the South China Morning Post, the Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated that the complex global political and economic environment is actually more favorable for Hong Kong's family office business, with the number of family offices settling in Hong Kong potentially accumulating to over 3,000 in the short term. Regarding tax exemptions for family offices, the Hong Kong government is drafting amendments to allow tax exemptions for requirements including private lending, virtual assets, and carbon credits, while also considering how to make the tax incentive application process for private funds more convenient. The goal is to submit the regulations to the Legislative Council next year, with hopes that the regulations (with retrospective effect) will take effect on April 1, 2025.

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