To date, The Securities and Futures Commission (“SFC”) and/or the Government has yet to announce an extension to the grant scheme offered to OFC applicants. Hence, for now, if a SFC Type 9 (asset management) licensed corporation wishes to make use of the grant scheme, the application for the grant should still be made on or before 9 May 2024 (Thursday).

Starting from 27 December 2023, an LPF applicant who applies for registration of an LPF will be deemed to have made a simultaneous application for business registration. No separate application needs to be submitted to the Business Registration Office of the Inland Revenue Department.

Willa Legal is a Legal500 recommended law firm for investment funds and Willa Chan is a recommended lawyer for her commercial and technical advice and bespoke and tailored services for the investment funds and asset management sector.

Willa Legal and Willa Chan has been nominated as a finalist in Rising Law Firm of the Year, and Young Lawyer of the Year (Law Firm), respectively.

Willa Legal has been recognized as a “Notable Firm for Hedge Funds 2023” by #IFLR1000. Our Founding Principal, Willa Chan, has also been named as the “Rising Star Partner in Investment Funds 2023” by IFLR1000.

Willa Legal offers to HSBC Business Go members Hong Kong Limited Partnership Fund (LPF) set up service. This is suitable for SFC licensed managers who wish to set up closed-ended funds (e.g. PE, VC, case funds and pre-IPO funds) that are offered to Asian investors.

SFC updated OFC FAQs on 12 April 2023. The key updates are on waiver application for extension of the 4-month deadline for publishing and filing annual report, and the appointment of different custodians for each OFC sub-fund.