The Hong Kong Legislative Council passed an amendment bill introducing a mechanism for corporate re-domiciliation.

According to the information from the iMoney APP, the Hong Kong Legislative Council has passed the amended Company Ordinance Bill on its third reading, introducing a mechanism for company re-registration in Hong Kong. The amended ordinance will come into effect on May 23, and the company re-registration mechanism will also start accepting applications on the same day. Hong Kong Financial Secretary Paul Chan stated that the amendment establishes a simple and convenient mechanism for company re-registration, meeting the needs of companies established overseas with their main business in Hong Kong. It also helps the Hong Kong government actively attract investment, bringing in various professional services and increasing investment and job opportunities locally.