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HKIAC: Your Trusted Destination for Safeguarding Your Rights

April 2, 2024

The Hong Kong International Arbitration Centre (HKIAC) is a dispute resolution institution based in Hong Kong, which specialises in administering arbitrations, adjudications, domain name dispute resolutions, and mediations. “Hong Kong International Arbitration Centre (HKIAC): Safeguarding Disputes with Expertise and Independence” Established in 1985 by prominent business figures and professionals, HKIAC stands as a premier institution…
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Hong Kong Tax Ruling: Substance Requirements for Foreign-Sourced Income Exemption

March 25, 2024

On 15 September 2023, the Hong Kong Inland Revenue released Advance Ruling Case No. 70, addressing the economic substance requirement outlined in section 15K of the Inland Revenue Ordinance (IRO) under Hong Kong’s new Foreign-Sourced Income Exemption (FSIE) regime. This regime, established by the Inland Revenue (Amendment) (Taxation on Specified Foreign-sourced Income) Ordinance 2022, deems…
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2024 Talent Exchange Initiative: Empowering Young and Talented Specialists

March 19, 2024

The Government of the Hong Kong Special Administrative Region (SAR) announced on February 15, 2024, the commencement of the 2024 Greater Bay Area (GBA) Youth Employment Scheme, which is now open for year-round applications. Hong Kong-based companies can now submit job vacancies valid until December 31st to employ young Hong Kong residents in cities within…
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Hong Kong Accelerates Wealth Sector Growth with New Investor Schemes and Tax Reforms

March 11, 2024

Capital Investment Entrant Scheme aims to attract high-net-worth investors, bolstering Hong Kong’s wealth sector amid competition from global financial centers like Singapore and Dubai.With assets under management surpassing HK$30 trillion, Hong Kong boasts over 250 open-ended fund companies and 780 limited partnership funds. To foster market growth, the government plans to extend the ‘Open-ended Fund…
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Hong Kong Raises Taxes On High Income Earners For First Time In 20 years

March 4, 2024

Hong Kong’s government has unveiled budget measures aimed at bolstering wealth management, including a rise in income tax for the top earning cohort – marking the first such increase in two decades. Starting from April 2024, a two-tier tax system will be implemented. Income up to HK$5 million ($640,000) will be taxed at a maximum…
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Hong Kong’s Company Re-domiciliation Regime: What You Need to Know

February 26, 2024

Hong Kong boasts an open and efficient company governance regime, a reliable tradition of the rule of law, a simple taxation system, and world-class professional services. Its strategic location, along with its extensive commercial and trading networks with both the Mainland and worldwide, makes it highly favorable for corporations managing their operations in the Mainland…
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Mayon Solutions team wishes Happy New Year to our esteemed partners and clients!

February 9, 2024

We want to express our sincere gratitude for the collaborative efforts and successful partnerships we have shared. May the coming year bring you prosperity, innovation, and the realization of your aspirations. Wishing you a wonderful holiday season and a prosperous New Year!

Hong Kong Aims to Lead in Green Tech and Finance

January 29, 2024

Hong Kong’s vision of becoming a global hub for green technology and finance can materialize with a strategic focus on supporting startups and harnessing China’s expertise in pivotal technologies, asserts the FinTech Association of Hong Kong. Sandeep Sethi, Co-Chair of the non-profit organization’s Green Tech and ESG Committee, emphasizes the need for intensified collaboration between…
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Hong Kong’s Strategic Measures to Restore Its Global Financial Hub Status

January 22, 2024

Hong Kong authorities have unveiled a package of measures to support the real estate market, as well as stimulate activity in the stock market. These steps are expected to help Hong Kong maintain its status as a global financial center. Incentive measures are being taken taking into account the fact that “supply in the Hong…
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