Analyses & Studies
Hong Kong’s new re-domiciliation regime: a game changer for global businesses
The Companies (Amendment) (No.2) Bill 2024, which sets out the proposed company re-domiciliation regime in Hong Kong (the “Re-domiciliation Regime”), was gazetted on 20 December 2024 and introduced to the Legislative Council on 8 January 2025.
The Re-domiciliation Regime will offer foreign companies the opportunity to seamlessly relocate their corporate presence to Hong Kong without the need for winding-up in their original jurisdiction and re-incorporation in Hong Kong. Companies will be able to retain their legal identity, property, contracts, rights, obligations, and continuity of operations, through a simple, accessible and straightforward mechanism.
By simplifying the process and removing unnecessary barriers, Hong Kong aims to enhance its attractiveness as a global business hub and encouraging more international companies to establish a permanent presence in the city.
This development comes at a time when Hong Kong is experiencing record-high business registrations. In 2024, 145,053 new local businesses were established, which marks a net increase of 29,736 local firms compared to 2023. Meanwhile, 1,079 non-Hong Kong companies set up offices in the city in 2024, bringing the total number of registered non-local companies to 15,126, representing a 2% increase from the previous year and the highest on record.
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