Hong Kong’s proposed foreign source income exemption regime for passive income

Under Hong Kong’s Proposed FSIE Regime, offshore passive income will be deemed to be sourced from Hong Kong and subject to Hong Kong tax if certain requirements are met. The Hong Kong government plans to introduce an amendment bill on Hong Kong’s Proposed FSIE Regime in October 2022 in order to bring the Proposed FSIE […]

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HKEx Updates on Climate Disclosure Standards

On 10 June 2022, the Stock Exchange of Hong Kong (HKEx) released its 2022 listing newsletter (HKEx Listing Newsletter). This fourth edition primarily focuses on the forthcoming global sustainability reporting standards on climate disclosures that will form the upcoming HKEx review of the environmental, social, and corporate governance reporting framework (HKEx ESG Reporting Framework), the […]

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Swap Connect Development Jointly Announced by People’s Bank of China, Hong Kong Securities and Futures Commission, and Hong Kong Monetary Authority

On 4 July 2022, the People’s Bank of China (the PBOC), the Hong Kong Securities and Futures Commission (SFC), and the Hong Kong Monetary Authority (HKMA) jointly announced that the China Foreign Exchange Trade System (also known as the National Interbank Funding Centre) (CFETS), and Shanghai Clearing House (SHCH), together with OTC Clearing Hong Kong […]

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New HKEX Listing Rules on Listed Issuers’ Share Schemes to Take effect 1 January 2023

n 29 July 2022, The Stock Exchange of Hong Kong Limited (the HKEx) published consultation conclusions on Proposed Amendments to the Listing Rules relating to Share Schemes of Listed issuers and Housekeeping Rule Amendment (the Consultation Conclusions). The HKEx had previously issued the Consultation Paper on Proposed Amendments to Listing Rules relating to Share Schemes of Listed Issuers1 in October 2021 on […]

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5 Things to Know About the International Relocation of Children in a Divorce

The pandemic has created an increase in the number of families permanently leaving Hong Kong.  But what happens when a separated or divorced parent wants to leave with the child, while the other parent wants to stay in Hong Kong, and wants the child to stay here with them? Senior Associate Chantelle Woo from Gall outlines 5 important things […]

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Hong Kong Competition Law Update

Since 2021, we have seen regulators around the world tightening enforcements of competition law and Hong Kong has seen an increase in activities since the start of 2022.  During this webinar, Ashima Sood, Senior Associate from Gall Solicitors will provide an update on the key developments in the competition law landscape, including with respect to […]

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Winding-up a Foreign Incorporated Company in Hong Kong – Nature of Benefits Conferred by a Winding Up Order

Case Background 14th June, 2022 -The Court of Final Appeal (“CFA”) handed down a judgment in Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited [2022] HKCFA 11 (“CFA Decision”) yesterday, ruling on the nature of benefits conferred by a winding up order required to wind up a foreign incorporated company. The jurisdiction of the Hong Kong Court […]

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Hong Kong Registration Regime for Dealers in Precious Metals and Stones to Take Effect on 1 January 2023

A new registration regime for dealers in precious metals and stones (DPMS) will come into effect on 1 January 2023 under proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the AMLO) which were introduced to Hong Kong’s Legislative Council on 6 July 2022.1 The proposed amendments are set out in the […]

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SFC Proposes Significant Amendments to SFO Enforcement Regime

On 10 June 2022, the Securities and Futures Commission (SFC) launched a two-month consultation on proposed amendments to the enforcement-related provisions of the Securities and Futures Ordinance (SFO). The Consultation Paper’s proposals are far-reaching, comprising the following three principal proposals: to amend section 213 of the SFO to enable the SFC to apply to the Court of […]

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How to Restructure Your Offshore Chinese Debt

Is The Once-Buoyant Property Market Bubble In China About To Burst? With funding liquidity drying up and slow sales, Chinese developers have been facing challenges on two fronts for the past few years. Since 2019, the Chinese government has been tightening policies and regulations on both capital investment and credit lending in the real estate […]

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Hong Kong Licensing Regime for Virtual Asset Exchanges to Take Effect on 1 March 2023

A new licensing regime for virtual asset service providers (VASPs) will come into effect on 1 March 2023 under proposed amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the AMLO) which were introduced to Hong Kong’s Legislative Council on 6 July 2022.[1] The proposed amendments are set out in the Anti-Money Laundering […]

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The Equal Opportunities Commission Made Recommendations On Workplace Sexual Harassment

Introduction On 12 May 2022, the Equal Opportunities Commission (“EOC”) released the findings of the first-ever “Territory-wide Representative Survey on Sexual Harassment in Hong Kong 2021”. In its report, the EOC set out and discussed the survey result, and made recommendations on redressing sexual harassment including workplace sexual harassment. Workplace sexual harassment The survey shows that sexual harassment is prevalent, […]

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