Hong Kong: Company Re-domiciliation Regime
The Financial Services and the Treasury Bureau (FSTB) recently released the public consultation conclusion and latest legislative proposals for the company re-domiciliation regime (the “Proposed Regime”) in Hong Kong. The Proposed Regime aims to elevate Hong Kong’s standing as a global financial and commercial centre by providing a straightforward and accessible route for overseas-domiciled companies to re-domicile to the city.
- Overview of Policy Framework
The Proposed Regime is designed to preserve the corporate identity and operational continuity of non-Hong Kong companies re-domiciling to Hong Kong. The re-domiciliation process will not affect the existing legal identity, property, rights, obligations and liabilities, and the relevant contractual and legal processes of the companies. To facilitate seamless transition, companies are prohibited from changing their company type during the re-domiciliation application.
In light of the existing market demand and after considering the practises in other jurisdictions, the FSTB has determined that the appropriate approach at this phase would be to prioritize the introduction of an inward re-domiciliation regime rather than a two-way regime. This strategy aligns with the primary objective of the Proposed Regime which is to increase Hong Kong’s competitiveness and appeal as a destination for enterprises and investment.
