Trust companies in Hong Kong
Hong Kong is an international business destination and home to a number of high net worth individuals as well as important companies. The financial management needs of these individuals or companies can be met by opening a trust services company in Hong Kong. This is different from a private family trust and it is subject to regulation.
The
trust industry in Hong Kong can be divided into four important segments, according to the particularities of the trust.
Corporate and private trusts will be the ones most commonly used by businesspeople in the city. Other options like
pension schemes and
charitable trusts are also available.
Trust company registration in Hong Kong
Hong Kong companies can submit an application for
registration as a trust company. In order to be considered eligible, the company must be
incorporated in Hong Kong and it must not be a private company. An application form together with the required documentation is submitted to the Companies Registry. After the application is processed and if the company is eligible, the Registry releases a
Certificate of Registration as a Trust Company.
Although
trustees in Hong Kong do not need this special license to conduct most of the
trust services in the city, certain services can only be performed by a
registered trust company. Only these
types of companies can be
appointed as a trustee by a court in Hong Kong and only they can apply to be an approved trustee for a Mandatory Provident Find scheme.
Our consultants can help you with Hong Kong company formation and the adjacent procedures required after the incorporation of the company.
The trust industry in Hong Kong
The financial services industry is one of the most important in Hong Kong. The trust industry in the city has developed to support this business sector and its sub-sectors. Apart from being an excellent location to base a trust, Hong Kong is also often used as a trust administration location.
The
trust industry offers solutions for businesses, wealthy families and individuals,
foreign investors or those individuals who are interested in opening charities. Hong Kong is also a location for
offshore trusts, either set up by Hong Kong investors or managed/administered from the city.
