Hong Kong's Trust Law was established in 1903, has been 115 years of history. It is not an exaggeration that Hong Kong's trust law has a longer history than Hong Kong's Jurisdiction.
As we all know, in January 1841, the Union Flag was raised in Hong Kong. Under the unequal agreement of the "Nanjing Treaty," after Hong Kong was formally ruled by the British on August 29, 1842, Hong Kong entered the stage of "British Colonies".
From Hong Kong as a judicial jurisdiction, it has a rich history and perfect than it is a legal trust.
In short, the Hong Kong Trust Act establishes the cornerstone of the whole Hong Kong Trust Law, and the Hong Kong Trust Act is largely based on the British Trust Act of 19th Century.
The "Hong Kong Fiduciary Association" is a coalition of professionals from the industry. Its members are found in various financial industries such as Trusts, Insurance, Banking, Securities, Funds, and Real estate. We have more than 800 members in Hong Kong and Asia exceed the number of 5000 members.
The main purpose is to evangelize on behalf of the industry and to participate in the opinions organizing committee which organized by the government to promote the common interests of the member units and abide by the constitution, laws and regulations; earnestly perform self-discipline, rights protection, coordination, service functions, and play the relevant role in management departments and the role of the trust industry as a bridge and ties, safeguarding the legitimate rights and interests of the trust industry, safeguarding the order of the trust industry market, improving the quality of trust industry employees, improving the level of service for members, and promoting the development of the trust industry.
Slowly over time, the application of Hong Kong Trusts has also spread into family life in Hong Kong.
In the 1970s, as Hong Kong became an international financial and port center, Hong Kong's trust did not only apply to local affairs, but was more closely related to global international affairs. It also became the most attractive customer in the world because of tax advantages. The choice of investment and banking services, in short, Hong Kong's continued adhering to the title of "Offshore Financial Center".
Therefore, Hong Kong Trust has also become an international choice for high-net-worth individuals in major countries around the world.
In the future, Hong Kong Trust will further take root in Hong Kong. It will also continue to provide family wealth management for high-net-worth customers in Hong Kong, inheritance planning, tax avoidance, asset separation, and free allocation of funds. As global taxation becomes more transparent, International Anti-Money Laundering and tax evasion practices become more and more stringent. Hong Kong's Jurisdiction that has been recognized by various countries as a legal, financial and taxation area will further highlight its functions and importance, and the revised Hong Kong Trust Act in 2013 precisely seized this opportunity, and Hong Kong Trust also became a new leader because of its internationalized...