Loading ...Episode 4：Passing Down Generations
2023-04-23
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Episode 4：Passing Down Generations
2023-04-23
Establishing a family trust for the preservation and appriciation of assets does not only meet one’s retirement needs, but also the need in long-term arrangements for distrubution of wealth among family members, so that the wealth can be passed down and substained across generations.
Under the new trust statute, families can establish trusts that are “perpetual and in existence for an unlimited period of time” in Hong Kong, which are more favourable for substaining and passing down family wealth than the majority of offshore trusts which have a fixed time period. In Hong Kong, untranslated Chinese documents are accepted in litigation for cases on trust, and this advantage in language is particularly attractive to Mainland clients.
In this episode, Ms Connie LEUNG, an experienced senior management in the family trust industry in Hong Kong, is invitied to share with the audience on how establishing family trusts in Hong Kong provides a total solution to the passing down of family wealth.
Under the new trust statute, families can establish trusts that are “perpetual and in existence for an unlimited period of time” in Hong Kong, which are more favourable for substaining and passing down family wealth than the majority of offshore trusts which have a fixed time period. In Hong Kong, untranslated Chinese documents are accepted in litigation for cases on trust, and this advantage in language is particularly attractive to Mainland clients.
In this episode, Ms Connie LEUNG, an experienced senior management in the family trust industry in Hong Kong, is invitied to share with the audience on how establishing family trusts in Hong Kong provides a total solution to the passing down of family wealth.
Hong Kong is an international financial centre and a place where wealth is concentrated. With its strengths in banking, capital markets and asset management, Hong Kong can provide investors, financiers, asset managers, funds and financial institutions around the world with all-round and high-quality financial platform.
In recent years, the trend of using “family office” as a way of family inheritance has become more and more popular in many family enterprises around the world. Family offices are private wealth management companies established by ultra-high-net-worth individuals, and they are responsible for the daily management of family assets. Growing Hong Kong into a hub for family offices is a critical growth direction, and the enormous asset managed by family offices would also be diverted towards various investment projects. In the long term, the capital flow would be favourable for fostering the development of various financial ecologies, which would benefit the Hong Kong economy at large.
In recent years, the trend of using “family office” as a way of family inheritance has become more and more popular in many family enterprises around the world. Family offices are private wealth management companies established by ultra-high-net-worth individuals, and they are responsible for the daily management of family assets. Growing Hong Kong into a hub for family offices is a critical growth direction, and the enormous asset managed by family offices would also be diverted towards various investment projects. In the long term, the capital flow would be favourable for fostering the development of various financial ecologies, which would benefit the Hong Kong economy at large.
