Hong Kong Funds Update – (1) Launch of Re-domiciliation Mechanisms; (2) Updates from Companies Registry

Hong Kong Funds Update – (1) Launch of Re-domiciliation Mechanisms; (2) Updates from Companies Registry

Hong Kong Funds Update – (1) Launch of Re-domiciliation Mechanisms; (2) Updates from Companies Registry 1401 788 Charing

Launch of Re-domiciliation Mechanisms

Following our earlier report, the Re-domiciliation Mechanisms provided for under the Securities and Future (Amendment) Ordinance 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Ordinance 2021 (collectively, the “Ordinances”) came into effect on 1 November 2021.  Foreign Investment Funds are now able to take advantage of this mechanism to re-domicile and register in Hong Kong as open-ended fund companies (“OFCs”) or limited partnership funds (“LPFs”).

Please refer to our previous report for a summary of the procedure for the respective re-domiciliation routes.  The reader may also wish to take advantage of the new grant scheme offering subsidies for open-ended fund companies to set up or re-domicile in Hong Kong.

Re-domiciliation, however, does not operate to (a) create a new legal entity; (b) prejudice or affect the identity or continuity of the non-Hong Kong fund corporation as a corporation registered in its place of incorporation; (c) affect any contract made, resolution passed or any other things done by or in relation to the corporation; (d) affect any function, property, right, privilege, obligation or liability acquired, accrued or incurred by or to the corporation; or (e) render defective any legal proceedings commenced or continued by or against the corporation.

Updates from Companies Registry

Effective on 1 November 2021, a new initiative of Unique Business Identifier (“UBI”) is implemented for LPFs.  The Companies Registry adopts the 8-digit Business Registration Number of an LPF issued by the Business Registration Office of the Inland Revenue Department as the unique identifier of the LPF.

For new UBI of an LPF which was registered before 1 November 2021, please refer to this reference table published by the Companies Registry.  The Companies Registry will not issue a fresh certificate of registration for an LPF registered before 1 November 2021.  The UBI will instead be displayed on the search results of Company Name Search, Company Particulars Search, etc. of a LPF.

The reader should also take note that the specified forms LPF1, LPF2 and LPF4C for LPFs in reporting particulars have been revised and came into effect on 1 November 2021 as well.

Contact us today for advice on formation, re-domiciliation or registration of fund as OFCs or LPFs in Hong Kong.

Back to top
Privacy Preferences

When you visit our website, it may store information through your browser from specific services, usually in the form of cookies. Here you can change your Privacy preferences. It is worth noting that blocking some types of cookies may impact your experience on our website and the services we are able to offer.

Click to enable/disable Google Analytics tracking code.
Click to enable/disable Google Fonts.
Click to enable/disable Google Maps.
Click to enable/disable video embeds.
Our website uses cookies, mainly from 3rd party services. Define your Privacy Preferences and/or agree to our use of cookies.