Hong Kong Signs DTA, Creating Investment Pact with Bahrain Hong Kong has expanded its avoidance of double taxation agreements, onboarding Bahrain as its latest investment partner. Both parties signed a comprehensive avoidance of double taxation agreement (DTA), the 49th DTA to be concluded in Hong Kong. With the agreement, Hong Kong companies paying tax in…
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Hong Kong Opens Applications for the New Capital Investment Scheme Investors around the globe can now apply to the new Capital Investment Entrant Scheme of Hong Kong. The Hong Kong government clarifies that a qualifying candidate must invest a minimum of $30 million in approved investment assets. Moreover, candidates who are accepted may bring their…
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Phase 2 Services of Trade Single Window (TSW) Launched to Facilitate Trade The Hong Kong government has announced the full implementation of Phase 2 services of the Trade Single Window (TSW). This move is to enhance trade facilitation measures in the region. Covering a total of 28 types of trade documents, Phase 2 services have…
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Hong Kong Expands Trade Reach with ASEAN FTA Amendment Hong Kong has made significant strides in bolstering its trade relations with the Association of Southeast Asian Nations (ASEAN). The region and the regional bloc have signed a protocol to expand the coverage of their free trade agreement (FTA). The move will result in a substantial…
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Youth Entrepreneurs Alliance in Hong Kong to Offer Comprehensive Support The recently launched Youth Entrepreneurs Alliance in Hong Kong encourages youth to participate actively in the economy. The launch ceremony, named the Alliance of Hong Kong Youth Innovation and Entrepreneurial Bases in the Greater Area Bay, was officiated by Hong Kong’s Chief Secretary, Chan Kwok-ki.…
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Expanding Reach: Hong Kong Signs Investment Promotion Pact with Saudi Arabia Hong Kong and Saudi Arabia recently reached another milestone in history by signing an investment promotion pact. The Memorandum of Understanding (MoU) was signed between the two governments to foster cooperative investment promotion exchange and support. With its unique qualities, Hong Kong is a…
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Stamp Duty Bill Approval Welcomed The Stamp Duty (Amendment) (Stock Transfers) Bill has been passed by the Legislative Council today. The government welcomed the approval of the stamp duty bill, as it offers investors a better opportunity to continue investing in Hong Kong. The amendment is part of the measures the Task Force recommends for…
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Unveiling Hong Kong’s Unique Business Identifier: A Leap Towards Efficiency Hong Kong is embarking on a transformative journey by introducing the new Unique Business Identifier (UBI) system. This innovative system, slated for launch on 27 December 2023, promises to redefine how entities are identified, fostering efficiency and streamlining operations. Understanding UBI: A Global Perspective…
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More Allocation for Green Measures in Hong Kong Will Enable the SAR to Achieve Sustainable Development In a recent address at the Asia-Pacific Business Forum (APBF) 2023, Financial Secretary Paul Chang highlighted Hong Kong’s remarkable progress in decarbonisation and its pivotal role in the broader green transition across the Asia-Pacific region. The forum, attended by…
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Updates Introduced to the Foreign-Sourced Income Exemption (FSIE) Regime in Hong Kong Hong Kong is amending the foreign-sourced income exemption (FSIE) regime to address cross-border tax avoidance. This will position Hong Kong’s FSIE regime in line with international standards. The standards require corporate taxpayers to satisfy economic substance criteria in Hong Kong to enjoy tax…
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