Hong Kong is drafting a proposal to simplify the process for non-local companies to change their place of domicile to Hong Kong, said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu. The introduction of a company relocation regime was listed by Financial Secretary Paul Chan Mo-po in his budget for this fiscal year. It is expected that such a regime could drive demand for professional services in Hong Kong and more investments to the city. In 2021, Hong Kong set up a relocation mechanism for open-ended fund-based companies and limited partnerships. Some overseas funds have already made use of it to relocate to the SAR.
