We are looking back at an eventful summer, and those living in or visiting Hong Kong have probably been asked the question ‘What is happening there?’ and the advice to stay safe more than once. I am pleased to report that, despite some interruptions and with the exception of the government, Hong Kong remains a safe place, and overall business confidence in the city is still high. A Senior Partner at Boase Cohen & Collins shares his thoughts on the protest situation in our articles section.
Domestic factors aside, Hong Kong’s economy is starting to feel the result of the global slow-growth period and ongoing uncertainty of the US-China tariff dispute. To alleviate the impact on livelihoods, the Financial Secretary has announced additional budget measures to be implemented. Most notably, an increase of the tax reduction to 100%, still capped at HKD20,000 for Salaries and Profits Tax. The tax obligations of non-residents working in Hong Kong are addressed in more detail in our tax news.
Zetland is delighted to announce our collaboration with Professional Wills Limited, a leading provider of multi-jurisdictional wills and associated estate planning in Hong Kong and Asia since 2006. For more information, please see the article on international will writing in this newsletter.
In another guest article, an update is provided on the easing of mortgage loans for UK properties.
