IA - Insurance Authority of Hong Kong
IA - Insurance Authority of Hong Kong
05/14/2025 | Press release | Distributed by Public on 05/14/2025 00:52
Insurance Authority welcomes passage of legislation for implementation of the company re-domiciliation regime
Insurance Authority welcomes passage of legislation for implementation of the company re-domiciliation regime
14 May 2025
The Insurance Authority (IA) today (14 May 2025) welcomed passage of the Companies (Amendment) (No. 2) Bill 2024 (Amendment Bill), providing a simple and cost-effective framework for companies seeking re-domiciliation to Hong Kong.
"The Amendment Bill is eagerly awaited by authorized insurers incorporated outside Hong Kong but with a prominent local presence. Their choice of Hong Kong as home base fully reflects the strengths and allure of our market driven by connectivity among cities in the Guangdong-Hong Kong-Macao Greater Bay Area," said Mr Clement Cheung, Chief Executive Officer of the IA.
The IA will work closely with all relevant parties to enable interested insurers to kick-start their re-domiciliation process under the new regime.
Ends
IA - Insurance Authority of Hong Kong published this content on May 14, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2025 at 06:52 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io