New law may entice more trust firms to HK
Updates to Hong Kong's trust law for the first time in almost 80 years will encourage trust companies to set up shop here. Yet the city must focus on attracting young talent.
New updates to Hong Kong’s trust law could help boost the city’s industry as it strives to catch up with rival wealth hub Singapore, say industry players.
The changes – slated to be implemented on December 1 – will likely entice rich Asian families and individuals to view Hong Kong as a more favourable city to govern their trust structures. This has led to an uptick in trust companies looking to set up operations in Hong Kong, sources tell AsianInvestor.
In addition to new laws…
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