Impact of the New Economic Substance Law on Offshore Asset Management

Impact of the New Economic Substance Law on Offshore Asset Management



It is common for Hong Kong asset management industry to incorporate funds in offshore jurisdictions such as the Cayman Islands, the British Virgin Islands and Bermuda. In response to the work of EU and OECD on fair taxation, these offshore jurisdictions have enacted the Economic Substance (“ES”) Laws which was effective 1 January 2019. The new ES Laws have settled some tax issues but at the same time have created more controversies.

This seminar examines the main provisions of the new ES Laws and highlight their impacts on profits tax and tax audit.


By the end of the seminar, participants will be able to understand the impact of the Economic Substance Laws in certain offshore jurisdictions on the banking, insurance and fund management sector.


‧ The overview of the new Economic Substance (“ES”) Laws
‧ The Impact on the Relevant Entities
‧ The Obligation and Consequences of Non-compliance


The seminar is primarily targeted to fund managers, asset managers and investors who would like to have a better understanding of the Economic Substance Laws impacting entities in these relevant offshore jurisdictions.

先導計劃 - 專業培訓資助計劃

本課程乃提升資產財富管理業人才培訓先導計劃 - 專業培訓資助計劃所涵蓋之合資格課程/ 研討會 /會議。

合資格之金融服務業現職從業員只要圓滿修畢本計劃所涵蓋課程 / 研討會 /會議 的一個單元,便可於本計劃的三年期內申請發還80%學費或上限7,000元(以數額較少者為準)。

申請人可申請多於一個課程 / 研討會 /會議的資助。

申請表必須於完成課程 / 研討會 /會議 當日起計4個月內連同所需文件一併送交香港證券及投資學會。詳情請參考先導計劃網站


Wilson CHENG
Wilson has over 20 years of Hong Kong corporate tax and transaction tax experiences. He provides tax advisory and compliance services to conglomerates, listed companies as well as US and European-based multinational corporations. He has extensive experience in dealing with Hong Kong tax authorities, and more recently, he advised his clients on tax-efficient procurement model and structure, withholding tax planning as well as the application of tax resident certificate for tax treaties between Hong Kong and overseas jurisdictions.

Wilson regularly contributes tax technical articles to newspapers and technical journals and is a frequent speaker at tax seminars organized by various professional bodies in Hong Kong. He also serves as the Committee Member of Association of Chartered Certified Accountants (ACCA) Hong Kong from 2018/19 onwards and is the co-chairman of the taxation sub-committee of ACCA Hong Kong. From 2012/13 to 2015/16, he was the Council Member of the Taxation Institute of Hong Kong and was the founding organiser of CTA Conference in Hong Kong.


2019年12月20日, 星期五 (12:20下午 - 1:20下午)
SFC:1.00, PWMA:1.00