Hong Kong stands in one line together with such cities as London, Singapore and well-known as one of the well-known financial center of the world. Its location is a middle between West and East, which gives to Hong Kong obvious advantage as an international market. However, despite that Hong Kong is one of the international financial centers, it has a status of the offshore area.
Among the numerous investment structures that used to be established in Hong Kong big attention attract asset management structures. Asset manager license is issued by The Securities and Futures Commission (SFC) under the Securities and Futures Ordinance. Type 9 “asset management license authorizes company to act as a trustee and manage the portfolio of securities and to give advices regarding management of funds. Moreover, the license gives permission to dealing in securities, dealing in future contracts, advising in securities and future contracts. (All of mentioned activates must be licensed if provided separately by Type 1, 2, 4, 5 SFC licenses).
The individuals, who carry activities on behalf of asset management company in Hong Kong must be accredited as a responsible officer by the SFC as well. However, the Type 9 license requires 2 accredited managers. One of the responsible officers may be the director of asset management company. Also, at least on of the responsible officers must be in Hong Kong to carry the activities on behalf of the entity licensed as asset manager.
Due the pandemic of covid-19 financial markets all over the world financial markets have been facing unexpected challenges. Nonetheless, Honk Kong still provide with the stable situation, fair judicial system, presentable taxation. Asset management structures still on of the most popular business schemes in Honk Kong and their number continue to rise.
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