Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui explained today that the government aims to enhance its preferential tax regime and extend the eligible asset classes for tax exemptions to include insurance-linked securities (ILS), such as catastrophe bonds.
The goal is to enhance competitiveness of its financial marketplace and attract more investors to it and to domicile in the Special Administrative Region.
Hong Kong has been on a push in the institutional investor and sophisticated investor space, with family offices a particular area of focus.
Already Hong Kong is a major hub for family weather and investment vehicles, but wants to make things even more attractive to continue attracting assets there, while making the market as competitive with other locations as it can.
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