BakerHostetler (JD Supra Hong Kong)

Beginning on April 19, 2017, individuals and companies planning to export to or re- export from Hong Kong will need to obtain certain paperwork prior to shipping. This new rule was published earlier in 2017, by the Department of Commerce’s Bureau of Industry and Security (BIS), expanding compliance requirements for persons intending to export to or re-export from Hong Kong any items controlled...

On November 13, 2014, Hong Kong announced that it had signed a Model 2 FATCA IGA. Under the agreement Hong Kong financial institutions will enter into separate FFI agreements with the IRS and will report information on U.S. account holders directly to the IRS.