Along with the proposed development of high-value-added maritime services, green maritime centre, smart port, new tax regime enhancements and related initiatives in the Chief Executive’s 2024 Policy Address, PwC Hong Kong recently co-hosted an event with the Hong Kong Shipowners Association (HKSOA). Our Chinese Mainland and Hong Kong Transportation and Logistics Industry Tax Leader, Agnes Wong, and HKSOA’s Managing Director, Sandy Chan, provided insights on the maritime industry developments.

As part of the Hong Kong SAR Government’s effort to enhance Hong Kong’s competitiveness, the introduction of the proposed company inward re-domiciliation regime in Hong Kong may offer a cost-effective restructuring alternative to MNEs, maximising continuity over business operations, and substantially reducing administrative complexity and compliance burden compared to other routes for relocating to Hong Kong.

Our expert panel of speakers (Ingrid Lau, Ivy Chow, Joyce Tung and Emily Chak) also provided a comprehensive overview of the re-domiciliation regime under the latest legislative proposals and highlighted key features, as well as considerations from company secretarial, corporate governance, legal and tax perspectives.