News Snapshot:
Though Hong Kong has been a major centre for private equity in the Greater China region for many years, historically, Hong Kong private equity fund sponsors have opted for offshore fund structures, with a particular emphasis on Cayman limited partnerships. However, beginning in 2019, the Hong Kong Government introduced a number of legislative changes to encourage the formation of domestic Hong Kong private equity funds. These changes create a new Hong Kong private equity fund vehicle in the form of limited partnership funds, exempt Hong Kong private equity funds from profits tax in respect of profits earned from qualifying private...
