The International Monetary Fund Reports and Reaffirms That Hong Kong Financial Standing Remains Robust and Prosperous The Hong Kong Special Administrative Region (HKSAR) has pledged HK$4 billion (US$511 million) in new relief measures to help bolster the economy. The latest boost brings the government’s total pledged amount of relief to HK$25 billion (US$3.2 billion). In…
SMEs and Startups in Hong Kong Advised to Keep Up With the Change of Times Hong Kong is known to many as the preferred place to do business because of its pro-business environment. With low taxes, world-class infrastructure, ease of doing business, steady purchasing power by the local consumers, Hong Kong is on its way…
Fifth Protocol Arrangement to Avoid Double Taxation New Arrangement Between Hong Kong and the Mainland Effectively Enforced Hong Kong and the Mainland have reached a new arrangement with the Fifth Protocol. This will be implemented in the Avoidance of Double Taxation Arrangement. The arrangement was signed in July 2019. As part of the new…
Hong Kong Special Administrative Region (HKSAR) Announces Fourth Round of Relief Measures On 4 December 2019, the Financial Secretary of Hong Kong Special Administrative Region (HKSAR) announced the roll out of the fourth round of relief measures worth about HK$4 billion (US$512 million) to help companies and individuals cope with the onset of recession and…
New Tax Concessions for Hong Kong – One-time Offer for Taxpayers A new tax bill was passed by the Hong Kong Legislative Council and gazetted on 15 November 2019. It will offer tax concessions to as many as 1.91 million taxpayers. In addition, the bill will also benefit 145,000 tax-paying corporations and unincorporated businesses. These…
New Investor Compensation Regime in Hong Kong Coming Into Effect in January 2020 Following review of the investor compensation regime in Hong Kong, the Financial Services and Treasury Bureau announced plans to amend the securities and future rules on 11 October 2019. Primarily, the amendment is to increase investors’ compensation for losses in relation to…
Highlights of Chief Executive Policy Address 2019 That You Need to Know The Chief Executive of China’s Hong Kong Special Administrative Region (HKSAR), Carrie Lam, has delivered her third annual policy address on October 16, 2019, highlighting her administration’s efforts to promote the adoption of innovation and technology and boost economic development and competitiveness. …
Hong Kong Has Always Been a Preferred Choice for Business People to Set Up Office Ask any person delving in the business of their preferred place to set up shop, and most will state Hong Kong as their top three. The Government of Hong Kong has made their beloved jurisdiction a tax haven for both…
Financial Relief For Businesses In Hong Kong Small and Medium Enterprises would now enjoy more financial relief with the new SME Financing Guarantee Scheme. Introduced by the Mortgage Corporation Insurance Limited, the 80% Guarantee Product of the SME Financing Guarantee Scheme provides immediate support to Small and Medium Enterprises (SMEs). SME Business Owners Can…
The Freest Economy – Hong Kong Retains Freest Economy Title Hong Kong has long practised minimal government market interference. Hence, making Hong Kong highly attractive to investors. Although it is part of Mainland China, Hong Kong has its jurisdiction of the legal system and exert independent judicial power. Ever since the British handed over Hong…