Introduction Hong Kong has recently introduced significant alterations to its stamp duty regulations, aimed at reshaping property transactions and encouraging a more favorable environment for both buyers and sellers. The amendments, effective from October 25, 2023, come with several noteworthy modifications: Lower the rate Ad Valorem Stamp Duty (AVD) AVD, […]
Background In November 2022, a new artificial intelligence (“AI”) chatbot called ChatGPT was launched and aroused extensive attention worldwide. ChatGPT is an AI chatbot that can interact conversationally with users by offering detailed responses to any of users’ inquiries. Once user poses a question, ChatGPT will generate the answers detailly […]
What is SPAC? A Special Purpose Acquisition Company (SPAC) is a company with no operations and business whatsoever (i.e. blank check company), and is set up in order to acquire and transition a private company into a public one. The practice before was to raise capital through an initial public offering […]
1. Introduction In light of the prevalence of biotechnology in such an era o innovation and technology, the Hong Kong Stock Exchange (“the Exchange”) published Chapter 18A of the Main Board Listing Rules (“Chapter 18A”) on 24 April 2018. The introduction of Chapter 18A aims to assist pre-revenue Biotech companies […]
Hong Kong has long established itself as an international financial centre and favourable destination for both tourists and businesses. To enhance the competitiveness of Hong Kong in the global market, the Immigration Department has a series of policies to attract talent and capital into the region. These immigration schemes are […]
Background The new Limited Partnership Fund Ordinance (the “New Ordinance”) came into force on 31 August 2020. The New Ordinance renewed the local statutory regulations over private equity and venture capital accounts. The private equity sector was previously governed by the Limited Partnership Ordinance, enacted in 1912, which was often […]
It was an unforgettable and a touching moment that I met my learned Prof. Michael Jackson at the 198th Congregation ceremony at the University of Hong Kong. He interviewed and admitted me to the Faculty of Law, HKU over 30 years ago, when I was still a teenager. He is […]
Hong Kong will be the first jurisdiction in the Asia Pacific Region to enact a legislation dealing with apology and its implications, being the Apology Ordinance (Cap 631)(the “Ordinance”). The Apology Bill was passed in July this year and has taken effect on 1 December 2017. The object of the […]
The Provisions on Merger and Acquisition of Domestic Enterprises by Foreign Investors (2009 Amendments) (the “M&A Rules”), which took effect on June 22, 2009, sets forth the general regulatory framework for foreign investors’ mergers and acquisitions of PRC domestic enterprises, in order to promote investments in China by foreign […]
In China, individuals are subject to individual income tax (“IIT”) pursuant to the Individual Income Tax Law, Implementation Regulations for the Individual Income Tax Law, together with numerous tax circulars issued by various levels of the PRC tax administration. In general, the IIT is levied on the worldwide income of […]