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Hong Kong eyes simplified transfer process for non-local firms


Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, announced plans to propose a simplified process for non-local companies to relocate to the city. The proposal, expected to be submitted to the Legislative Council in early 2024, is part of a strategy to establish a widely applicable company relocation system. The move follows positive responses from an industry-wide public consultation and could increase demand for Hong Kong's professional services and drive investment into the city. This initiative builds upon a previous relocation mechanism established in 2021 for open-ended fund-based companies and limited partnerships, which has already been utilised by some overseas funds.

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