Hong Kong launches re-domiciliation regime to attract global companies

The new regime came into effect last Friday.

Hong Kong has introduced a new company re-domiciliation regime, allowing non-Hong Kong-incorporated companies to relocate their registration to the city whilst maintaining their legal identity, in a move aimed at reinforcing its position as a global financial hub.

The regime, which came into effect last Friday, enables eligible companies to re-domicile to Hong Kong without undergoing liquidation or re-incorporation. To qualify, companies must meet a set of criteria, including sound corporate governance, financial solvency, and protections for members and creditors.

One of the key features of the regime is the continuity it offers: re-domiciled companies retain their legal identity, ensuring seamless business operations during and after the transition. Additionally, to mitigate the risk of double taxation, the Hong Kong Government will provide unilateral tax credits for profits that are also subject to Hong Kong tax post-redomiciliation.

Secretary for Financial Services and the Treasury Christopher Hui introduced the new framework during his recent visit to Canada, where he met with executives from Canadian-based insurers Manulife and SunLife.

He emphasised the regime’s role in attracting multinational enterprises seeking a stable and business-friendly environment in Asia.

As a sign of early interest, Hui noted that an international insurance group publicly expressed its intention to re-domicile to Hong Kong on the very first day the regime took effect.

“Hong Kong has a solid foundation in investment, trade, and financial services, making it an ideal base for global firms in the insurance and risk management sectors,” Hui said.

During his visit, Hui also addressed financial leaders at a luncheon organised by the Hong Kong Economic & Trade Office (Toronto), Invest Hong Kong (Canada), and the National Club, where he highlighted Hong Kong’s ongoing efforts to align with global standards and develop sectors such as green finance and virtual assets.

The re-domiciliation regime is part of a wider strategy to strengthen the city’s role as an international financial centre and enhance its attractiveness to multinational companies seeking long-term growth in the region.