Hong Kong: Family offices Must Apply for Investment Licenses

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According to a publication issued this month, the Hong Kong Securities and Futures Commission (HK SFC), going forward, will start granting licences to family offices in Hong Kong, who are now expected to obtain one if they are exercising full discretionary investment authority over a portfolio of securities or investments contracts.

Exemptions are applicable if the family office fails to manage third party assets appropriately, or is wholly owned by the entity or trustee holding the family assets.