The long awaited Trust Law (Amendment) Act took effect on 1st Dec 2013 bringing Hong Kong’s trust law to a competitive level with other major trust jurisdictions such as UK, Singapore and offshore financial centers in Europe and the Caribbean. When developing the amendments, lawmakers were listening to and consulting with industry participants and professional organizations, updating Hong Kong’s 80 year old trust law and making it fit for the 21st century based on current best practice.

Key Features

Hong Kong International Trust

Corporate Details

General

  • Type of entity

International Trust

  • Type of law

Follow English law/As per Trust Deed

  • Legal Framework

Hong Kong Trust Ordinance.

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

120 years (except: charitable international trust or a purpose international trust)

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Hong Kong

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Hong Kong

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in Hong Kong

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated Hong Kong

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

No domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No