Hong Kong’s new Single Family Office Tax Regime provides certainty that investment profits will be exempted from profits tax, where specific conditions are met.
For an FIHV to enjoy the profits tax concession, it must satisfy the following conditions:
1) Structure: the FIHV must be an entity (established or created in or outside Hong Kong) that is not a business undertaking for general commercial or industrial purposes. Entity means a body of persons (corporate or unincorporate) or a legal arrangement and includes a corporation, partnership and trust (including a discretionary trust);
2) Ownership: the FIHV must relate to one or more than one member of a single family and meet the ownership requirements set out below;
3) Normal management or control (NMC): the FIHV must be normally managed or controlled in Hong Kong during the basis period for the year of assessment;
4) Management of FIHV: the FIHV must be managed by an eligible SFO and meet the minimum asset threshold; and
5) Substantial activities requirement: the FIHV must carry out its core income generating activities (CIGAs) in Hong Kong and meet the requirements of qualified full-time employees and operating expenditures.
Minimum Asset Threshold:
The aggregate value of assets specified under Schedule 16C to the IRO (specified assets) managed by an eligible SFO for the FIHV (or multiple FIHVs) of a family must be at least HK$240 million. In determining whether the minimum asset threshold is met, the aggregate amount of the net asset value (NAV) of the specified assets of each relevant FIHV managed by the eligible SFO (Aggregate NAV) at the end of the FIHV’s basis period for the year of assessment (subject year) will be considered.
Assets specified under Schedule 16C to the IRO include the following assets commonly invested by FIHV and FSPE:
Securities;
-Shares, stocks, debentures, loan stocks, funds, bonds or notes of, or issued by, a private company;
-Futures contracts;
-Foreign exchange contracts under which the parties to the contracts agree to exchange different currencies on a particular date;
-Deposits other than those made by way of a money-lending business;
-Deposits (as defined by section 2(1) of the Banking Ordinance (Cap. 155)) made with a bank (as defined by Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571));
-Certificates of deposit (as defined by Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571));
-Exchange-traded commodities;
-Foreign currencies;
-OTC derivative products (as defined by Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571)).
There is no pre-approval process or application requirement for family offices to benefit from the new tax regime. A self-declaration that the conditions set out under the regime is sufficient to apply for the tax exemption treatment.
The Hong Kong Single Family Office Tax Regime will apply retrospectively from the year of assessment 2022/23.
新的利潤稅豁免增強了香港作為國際家族辦公室中心的吸引力；
香港的新單一家族辦公室稅制規定，只要符合特定條件，投資利潤將被免除利潤稅，為家族辦公室提供了確定性。
家控工具必須符合下列要求，方可獲得利得税寬減：
1) 架構： 該家控工具須為實體（不論是在香港或在香港境外成立或設立），而且不是為一般商業或工業目的而經營的業務實體。實體指團體（不論是否屬法團）或法律安排，並包括法團、合夥及信託（包括全權信託）；
2) 擁有權： 該家控工具須與單一家族的一名或多於一名成員有關連及符合下文所述的擁有權要求；
3) 通常管理或控制： 該家控工具須在有關課税年度的評税基期內是通常在香港境內受管理或控制的；
家控工具的管理：該家控工具須由具資格單一家族4) 辦公室管理，並符合最低資產門檻；及
5) 實質活動要求：該家控工具須在香港進行其主要賺取收入的活動，並符合有關合資格全職僱員數目和營運開支金額的要求。
最低資產門檻
具資格單一家族辦公室為相關家族的一個或多個家控工具所管理《税務條例》附表16C指明的資產（「指明資產」）的總值，必須最少為2.4億港元。本局判斷家控工具是否達到最低資產門檻時，由具資格單一家族辦公室所管理的各個有關家控工具，在有關課税年度（「標的年度」）該等家控工具的評税基期完結時，指明資產的淨資產值總額將會考慮在內。
《税務條例》附表16C指明的資產包括下列各項由家控工具及家族特體通常投資的資產：
-證券；
-私人公司的（或私人公司發行的）股份、股額、債權證、債權股額、基金、債券或票據；
-期貨合約；
-符合以下說明的外匯交易合約：在該合約下，合約各方協定在某特定日期，兌換不同貨幣；
-存款（以放債業務的形式作出的存款除外）；
-存放於銀行（《證券及期貨條例》（第571章）附表1第1部所界定者）的存款（《銀行業條例》（第155章）第2(1)條所界定者）；
-《證券及期貨條例》（第571章）附表1第1部所界定的存款證；
-交易所買賣商品；
-外幣；
-《證券及期貨條例》（第571章）附表1第1部所界定的場外衍生工具產品。
家族辦公室無需預先批准或申請，即可從新稅制中受益。在自我聲明符合稅制規定的條件下，即可申請免稅待遇。
香港的單一家族辦公室稅制將從2022/23年度評估年度開始追溯適用。
