Crypto exchange shops now welcome customers in shopping malls, while hundreds of ATMs have appeared along the city’s bustling streets. The city has ambitious plans to tap into the $3.8 trillion digital assets market. New legislation rolled out last month will allow licensed businesses to issue stablecoins — cryptocurrencies pegged to real-world assets like the…
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The Hong Kong government will launch a new Innovation & Technology Industry-oriented Fund in 2026 as part of its efforts to strengthen the city’s startup ecosystem. Alongside the initiative, the government will expand the Innovation & Technology Venture Fund and introduce a Pilot I&T Accelerator Scheme aimed at attracting global startups to Hong Kong. Officials…
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In today’s economic climate, mounting debt pressures are driving both individuals and businesses to seek effective restructuring solutions. To meet this growing demand, HKIVALAWYER.com has officially launched. HKIVALAWYER.com connects individuals and companies with leading lawyers and law firms in Hong Kong who specialize in debt restructuring, with a particular focus on Individual Voluntary Arrangements (IVA)…
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Cheque usage in Hong Kong is rapidly shrinking, with both paper and electronic formats recording double-digit drops in recent years. According to the FIAKS e-Bulletin Issue 6.0, the volume of paper cheques fell 18.40% between 2021 and 2024, totaling 55.81 million transactions. E-Cheque usage dropped even more steeply—down 20.68% to just 0.35 million transactions. Experts…
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Hong Kong’s newly introduced stablecoin ordinance may increase pressure on local banks, particularly in the digital payments sector, but it could also present new opportunities—especially in wealth management. Stablecoins issued under the new regime are expected to heighten competition in wholesale payments by offering advantages in both cost and transaction speed. In response, local banks…
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The Inland Revenue Department has launched three new tax portals aimed at streamlining services for individuals, businesses, and tax representatives, the department announced on Tuesday. The Individual Tax Portal allows taxpayers to file returns, update personal information, and view their tax positions. It is also accessible via the department’s mobile app, eTAX. The Business Tax…
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As the appeal of traditional tax havens such as Bermuda and the Cayman Islands declines, Hong Kong is positioning itself as a new destination for global multinationals seeking favorable incorporation environments. Historically, low or zero corporate tax rates and the absence of estate duties made jurisdictions like Bermuda, the Cayman Islands, and the British Virgin…
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Digitalisation has brought numerous benefits, including the convenience of digital payments and online shopping. However, the surge in digital activity has also enabled fraud and scams to proliferate on an unprecedented scale. According to the Hong Kong Police Force, over 44,000 cases of deception were recorded in 2024 — a fourfold increase over the past…
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Under Hong Kong’s revised Enhanced Supplementary Labour Scheme (ESLS), which took effect on 17 June, employers seeking to hire foreign workers for technician-level or lower positions must now wait six months before reapplying—unless it’s a contract renewal. The updated rules cap imported worker contracts at two years, reinforcing the government’s aim to provide greater job…
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