In a recent press release, Hong Kong’s Securities and Futures Commission (SFC) published details, frequently asked questions, and application forms for the new grant scheme to subsidise the expenses incurred by open-ended fund companies (OFCs) successfully incorporated in, or re-domiciled to, Hong Kong.
Subject to certain conditions, the grant scheme will be available on a first-come, first-served basis, has a planned application period of three years, and will cover 70% of eligible expenses paid to Hong Kong-based service providers, subject to a cap of HKD1 million (USD128,800) per OFC.
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Business Law Digest is compiled with the assistance of Baker McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker McKenzie by e-mailing Howard Wu (Shanghai) at howard.wu@bakermckenzie.com
