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The Government published in the Gazette on 2 July 2021 the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 (the "Bills") which provide a mechanism for foreign investment funds to re-domicile and register in Hong Kong as Open-ended Fund Companies ("OFC") or Limited Partnership Funds ("LPF"). The Bills will come into operation on 1 November 2021.

The Bills ensure that the continuity of the fund is preserved upon re-domiciliation, including but not limited to making clear that the re-domiciliation does not operate to affect any contract made, property acquired by the non-Hong Kong fund nor create a new legal entity.

Please refer to our client alert "The Home Return Permit for your Foreign Funds" for a summary of the application mechanism to re-domicile in Hong Kong as OFC or LPF.

© Stephenson Harwood LLP 2023. Information contained on this page is current as at the date of first publication and is for general information only. It is not intended to provide legal advice.