WBY Lawyers assisted Yau Wai International Asset Management Company Limited (有為國際資產管理有限公司) in successfully registering a HK open-ended fund company (“OFC”), being the 12th private OFC registered with the SFC.
WBY Lawyers assisted K&R International Limited in the revocation of its Stored Value Facilities (“SVF”) license with the HKMA, being the first SVF Licensee in HK to revoke its license.
WBY Lawyers assisted Lion Rock Capital Management Limited (獅石資產管理有限公司) in successfully registering a HK open-ended fund company (“OFC”), being the 9th private OFC registered with the SFC.
WBY Lawyers assisted CASH Algo Finance Group Limited (時富量化金融集團有限公司) in successfully registering a HK open-ended fund company (“OFC”), being the 7th private OFC registered with the SFC.
Hong Kong Carried Interest Tax Concessions – Applicability Beyond Typical Private Equity Funds
Certain “eligible carried interest” will soon be charged at a Hong Kong profits tax rate of 0%. This article explores whether the proposed tax concessions may potentially apply beyond typical private equity fund structures, to carried interest that arise from: (i) private equity type investments in the side pocket of an open-ended fund; and (ii) private equity type investments made by a fund / vehicle that are not on a “blind-pool” basis.
Re-Domiciliation of a Cayman Islands Fund as a Hong Kong Open-Ended Fund Company
The re-domiciliation mechanism to re-domicile an overseas fund as a Hong Kong Open-ended Fund Company (“OFC”) is expected to come into effect imminently. This article answers some of the more common questions we have encountered on the proposed re-domiciliation mechanism.
WBY Lawyers assisted Vectr Ventures Advisors, a Hong Kong based VC firm, in the registration, formation and closing of Vectr Ventures Fund II Feeder, LPF, a Hong Kong limited partnership fund. With the Hong Kong limited partnership fund regime having come into effect on 31 August 2020, Vectr Ventures Advisors became one of the early adopters of the Hong Kong limited partnership fund, representing a milestone in the Hong Kong VC industry.