The viral internet clip known as ‘Charlie Bit My Finger’ was sold as （Non-Fungible Token）(“NFT”) for more than USD760,000 (approximately HK$5.9 million).The famous digital artist Mike Winklemann, also known as “Beeple” crafted a composite of 5,000 drawings creating perhaps one of the most famous NFT for now, “EVERYDAYS: The First 5000 Days,” which sold at…
Overview An open-ended fund company (“OFC”), first introduced in Hong Kong under the Securities and Futures Ordinance in 2018, is an investment fund in a corporate structure. An OFC typically has a board of directors which has a duty to ensure company’s compliance with Securities and Futures Commission (“SFC”) regulations, a custodian which manages its…
Any person who would like to start a money lending business, which provides an alternative source of loan outside the banking system, is regulated by the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong) (“the Ordinance”). As pursuant to the Ordinance, a Money Lenders Licence (“the Licence”) is required to carry on…
With the introduction of Covid-19 vaccine programmes and certificates, the World is on the course of gradual recovery. Yet, with travel restrictions and quarantine regimes still in place in many parts of the World, corporate management personnel may not be keen to travel, and are thus unable to execute corporate documents physically in the desired…
On 5 March 2021, Eric Yuan, the Founder and Chief Executive Officer of Zoom Video Communications Inc. (“Zoom”), a company listed on NASDAQ in USA, made the regulatory filing about his transfer of about 18 million shares (approximately 40%, valued at US$6 billion) of his shareholding in Zoom to two unspecified beneficiaries in accordance with…
Cloud computing is widely used by companies and individuals nowadays. Although, there is no universally accepted definition of cloud computing cloud computing generally refers to the delivery of computing services which includes servers, storage, databases, networking, software, analytics, and intelligence over the Internet to offer faster innovation, flexible resources, and economies of scale. Users for…
Introduction Commonly, as soon as a married couple decides that their marriage will no longer work, they will file for divorce. In some rare cases, however, a married person may choose to separate indefinitely or simply disappear. This results in a “missing spouse” situation. While the remaining spouse may still file for divorce under…
Planning my family trust- major consideration. For the purposes of assets protection and succession planning, high-net-worth individuals (HNWI) may use the vehicle of family trust for a long-term planning for his/her future generations for hundreds of years. What factors should an HNWI think through when setting up a family trust? Nationality …
The widely-anticipated Limited Partnership Fund (“LPF”) Ordinance (Cap. 637) (“Ordinance”), which depicts an investor-friendly framework for private funds, will eventually come into play on 31 August 2020. The Ordinance paves a way for the domiciliation of private funds in Hong Kong with its laxity on regulation and tax exemption (given certain conditions are satisfied). With…
On 6 November 2019, the Central Government promulgated 16 policy measures which would benefit Hong Kong people from all walks of life and facilitate the development of various sectors in the Greater Bay Area. Benefiting the general public Hong Kong residents to be treated as local residents in purchasing properties in the Mainland cities of…
