Following consultations, Hong Kong’s Financial Services and Treasury Bureau has published a legislative proposal for a company redomiciliation regime in Hong Kong.
Redomiciliation is the transfer of a company’s registered office from one jurisdiction to another without ceasing operations in the original country.
The proposed regime will, in the future, apply to all five types of companies that can be registered in Hong Kong. The redomiciliation provisions will need to ensure that, upon successful completion of the process, the company retains its identity. It is understood that no new legal entity will be created during this process.
A redomiciliated company will have the same rights and obligations as another registered company of the same type in Hong Kong and will be required to comply with the relevant legal requirements as any other company.