Hong Kong to expand tax incentives for funds and family offices to cover precious metals: Hui

Hong Kong plans to expand preferential tax regimes for funds and family offices to cover investments in precious metals, including gold-linked exchange-traded funds, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said in an interview with i-Cable.

Hong Kong and Shenzhen have signed an MoU to jointly develop gold processing trading, encouraging Hong Kong gold merchants to collaborate with Shenzhen refining enterprises, Hui noted.

Despite certain restrictions on gold exports in mainland China, gold from overseas may be imported into Shenzhen via Hong Kong for refining in compliance with laws and regulations, before being exported again, he said.

Besides, Hong Kong has received over 30 applications for re-domiciliation since the introduction of the re-domiciliation regime last May, with two-thirds of them getting approvals, Hui said.

Hong Kong's excellence in professional and financial services makes it a favourable choice for company registration, he added.