The Securities and Futures Commission (SFC) requires certain businesses to obtain SFC licences if they do business around what Hong Kong refers to as “regulated activity.” Read on to learn more about these licences, how to determine which SFC licence type your business could fall into, and the SFC licence application process.
On June 8, 2021, the Hong Kong Monetary Authority (HKMA) unveiled its “Fintech 2025” strategy that aims to drive fintech development in Hong Kong. The Fintech 2025 strategy is the Hong Kong government’s way of encouraging institutions to adopt newer technologies, and to future-proof Hong Kong’s digital currencies to expand further and develop the country’s booming economic market.
Interested in learning how to set up a venture capital fund? Why not set it up here in Hong Kong! With the country being home to a fast-growing asset and wealth management industry due to its supportive government, Hong Kong is a great place to either set up a venture capital fund or invest in one.
With the surge in the adoption of digital banking services and online trading of equities and exchange-traded funds (ETFs) in Hong Kong, Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) procedures have been put into place to protect people and businesses from malicious individuals seeking to steal from them. But how do they work?
Hong Kong is an exceptional choice when choosing the best place to domicile a venture capital fund. With its strategic location, robust legal framework, and vibrant financial ecosystem, the country offers numerous advantages for setting up and operating a successful venture capital fund.
Fund administration services are a key industry that makes Hong Kong one of the world’s leading international financial institutions. And despite the ongoing global challenges, Hong Kong still holds various opportunities for top fund administrators.The 2% year-on-year increase in AUM to $35,546 billion in Hong Kong’s asset and wealth management business has emphasised the resilience of the country’s industry.
One of the critical factors in maintaining the country’s thriving economy is its Hong Kong tax. The tax in Hong Kong is a territorial basis tax system, under which both individuals and corporate entities will be taxed for the generated profit or income within the country. Under this principle, any profits earned outside the territory, will not be subject to Hong Kong taxes.
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