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To facilitate the development of family office business in Hong Kong as announced by the Chief Executive in his 2022 Policy Address, the Hong Kong SAR Government has published draft legislation for implementing a concessionary tax regime for family-owned investment holding vehicles (FIHVs) managed by a single family office (SFO) in Hong Kong.

Gazetted on 9 December 2022, the Inland Revenue (Amendment) (Tax Concessions for Family-owned Investment Holding Vehicles) Bill 2022 (the Bill) proposes profits tax exemption for assessable profits earned from certain transactions by FIHVs owned by ultra-high-net-worth individuals and their family members with effect from the 2022/23 year of assessment, subject to fulfilment of specified eligibility conditions.

How will the Bill facilitate Hong Kong in becoming a family office hub? How can family office businesses reap the benefits of the tax exemption, and how should tax professionals prepare their clients for the new regime?

Join us on 7 February when Alice Leung, tax partner at KPMG and Christine Ho, Deputy Global Head of Family Office at Invest Hong Kong, will provide an overview of the key requirements for a FIHV, as well as the Bill's impact and opportunities for SFOs in Hong Kong.

For participants attending online, please refer to the following:

- Upon successful registration of the event, a unique webinar link will be sent to your registered email (attendee email) 2 working days before the event. Please refer to the troubleshooting guide here should you experience any issues in locating the webinar link.
- Instructions on downloading Zoom and joining a webinar can be found here. We suggest that you familiarize yourself with the software in advance of the webinar.
- Please log in 15 minutes (at 15:45) before the event begins, through the link that will be sent to your registered email.

For participants attending in-person, please refer to the following:

- Seats are limited and available on a first come first served basis.
- Pre-registration for in-person attendance is required and the Chamber reserves the right to decline such an application.
- Attendees should wear a mask at all times.
- Attendees, who feel unwell are advised against in-person attendance at the Chamber. If attendees are required to undergo compulsory testing, please kindly bring along a negative PCR or RAT test result when attending physically.
- Food and beverages will not be provided.

DISCLAIMER
Speakers' presentations at this event are intended for educational purposes only and do not replace independent professional judgment. Statements of fact and opinions expressed during this event are those of the speakers and participants and, unless expressly stated to the contrary, are not the opinion or position of the Hong Kong General Chamber of Commerce, its members, or its committees. The Chamber does not endorse or approve, and assumes no responsibility for, the content, accuracy or completeness of the information presented. Attendees should note that, with the approval of speakers, this event may be recorded, and possibly published on the Chamber's website in audio and/or video formats without further notice.

Recording, duplication or distribution of the contents of the online event is prohibited without prior written permission from the Chamber.

Speaker(s)

Christine Ho

Deputy Global Head of Family Office, Invest Hong Kong

Ms Ho has over 17 years of proven working experience in Private Banking/ Wealth Management. She has been working directly with entrepreneurs, family offices and private equity funds from Asia to Europe with the focus in Greater China.

Ms Ho worked in top tier banks, including UBS, JP Morgan, HSBC, DBS and BNP Paribas in Zurich and Hong Kong. Recently she held various positions where she led, developed, and managed family office business as Executive Director of BNP Paribas Private Bank, and Senior Director of DBS Private Bank.

Ms Ho started her career as a portfolio manager. She later became clients’ trusted adviser and managed their overall banking matters. Starting from 2015, Ms Ho started to work with family offices to set up and run business in Hong Kong. Ms Ho acquires extensive knowledge of investments, trust, tax, and regulations, and accumulated valuable resources and network.

Alice Leung
Tax Partner, KPMG

Ms Leung is a partner with KPMG China who specialises in the corporate tax field for over 20 years. She has extensive experience in advising tax compliance and advisory matters on a diverse range of multinational and local clients belonging to various industries including consumer markets, industrial markets, transportation, telecommunications and media.

Alice is also active in advocating KPMG’s and the business community’s positions and views regarding tax policies and reforms to a number of government agencies, professional associations and industry groups. She is a frequent speaker on various key tax issues and developments in both KPMG and external business seminars and conferences. She also contributes articles to business publications.

Ms Leung is the former Chairman of the Taxation Committee of the Hong Kong General Chamber of Commerce.

Language

English

Date and Time

2023/02/07 16:00 to 17:30

Venue

Chamber Theatre, 22/F United Centre

Media

Closed to media

Enquiries

Karen Au
Tel: 28231246
Email: gillian@chamber.org.hk

Fee

HK$ 120 for Members / HK$ 240 for Non-Members (Online via Zoom)
HK$ 120 for Members / HK$ 240 for Non-Members (In-person at Chamber)

+$50 for booking offline
Members enjoy 30% discount with BOC HKGCC VISA Card

Notes

- Bookings are only confirmed upon receipt of payment, on a first come first served basis.
- Booking transfer is allowed for corporate members with advanced notice, walk-ins are normally not accepted.
- The Chamber reserves the right to decline any booking or cancel the event. In such case, a full refund of the participation fee will be issued.
- No refund will be made for last minute cancellations or no-shows. If the booking is cancelled at least 3 days before the event, and in such cases the refund will be subjected to a 10% administration fee, or HK$100 deduction, whichever is higher.
- Members paying with their BOC HKGCC Visa Card will enjoy a 30% discount on their reservation. The discount is only applicable to the card holder, and does not extend to their guests. The discount cannot be used in conjunction with Chamber Coupons.
- A $50 handling fee per person will be charged for all offline bookings (e.g. fax, e-mail, post) for all Chamber events. Go online today by downloading our app or registering on the HKGCC website to save the environment and money.
- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.