Proskauer Rose LLP (JD Supra Hong Kong)
Hong Kong’s Carried Interest Tax Concession – Zero % Tax!
Following the enactment last year of the Limited Partnership Fund Ordinance, which has seen strong take up in its first eight months of operation, the new tax concession on carried interest earned from the activities of private equity funds which was proposed by the Hong Kong Government in 2020, has now been introduced. The Inland Revenue (Amendment) (Tax Concessions for Carried Interest)...
Hong Kong Government to Extend Existing Offshore Funds Tax Exemption to Private Equity Funds
The Hong Kong government has announced in its latest budget a planned extension of the existing offshore funds tax exemption to bring offshore private equity funds investing in or through Hong Kong, within its scope. The scope of the amendment will not only bring private companies within the exemption, but will also include SPVs which may be Hong Kong incorporated provided they are owned by an...
Hong Kong SFC Continues To Step Up Its Enforcement Action amidst Enhanced Regulation of IPO Sponsors
With the date for the introduction of the new regulatory regime for IPO sponsors now just a matter of weeks away on October 1, 2013, the Hong Kong market has witnessed further action taken by the Securities and Futures Commission (SFC) against a Hong Kong-listed company accused of behaviour that the new regime is intended to address.
Hong Kong – Applying Securities Laws to Sales of Hotel Units
In a move that represents a first in Hong Kong, one of the territory's largest listed property developers, Cheung Kong (Holdings) Limited and certain of its subsidiaries have entered into an agreement with the Securities and Futures Commission (SFC), the securities regulator, to unwind a sale of individual units in a Hong Kong hotel, known as The Apex Horizon, that took place earlier this year.
Hong Kong Court of Appeal Expands SFC Powers to Seek Remedies for Insider Trading
In what is being seen as a landmark decision, the Hong Kong Court of Appeal has allowed an appeal by the Hong Kong Securities and Futures Commission (SFC) from the decision of a lower court that will permit the SFC to proceed to seek final remedial court orders imposing sanctions as a free standing remedy against Tiger Asia, a New York-based fund manager that has no presence in Hong Kong.
New Short Position Reporting Regime in Hong Kong
A new reporting regime for holders of net short positions in shares traded on the Hong Kong Stock Exchange is proposed to come into effect on 18 June 2012. Hong Kong already has a stringent short selling regime that was introduced after the market turmoil of the 1998 Asian Financial Crisis (only "covered" short selling is now permitted subject to the seller meeting certain eligibility...