The Trust Law (Amendment) Bill 2013 was passed on 17 July 2013, and will come into force on 1 December 2013. This is the first major amendment to Hong Kong's Trustee Ordinance since its enactment in 1934, and the Perpetuities and Accumulations Ordinance's enactment in 1970. This places Hong Kong in a competitive position, vis a vis Singapore, as an attractive Trust jurisdiction for the rapidly growing global wealth management industry.
Please click here to read more details on the key legislative changes.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.