LIBRARY

EXPECTED DEFICIT IN HONG KONG'S ANNUAL BUDGET

Feb 2021

As every year in February, the Hong Kong Financial Secretary Paul Chan gave his annual speech on the financial situation of Hong Kong on 24 February 2021 with an outlook on the finances for the next fiscal year 2021/2022, which begins on 1 April 2021...

ERWARTETES DEFIZIT IM HONGKONGER JAHRESHAUSHALT

Feb 2021

Wie jedes Jahr im Februar hielt der Hongkonger Finanzminister Paul Chan am 24. Februar 2021 seine jährliche Rede zur Finanzlage Hongkongs und gab einen Ausblick über die Finanzen für das nächste Haushaltsjahr 2021/2022, welches zum 1. April 2021 beginnt...

INTERNATIONAL CHAMBER OF COMMERCE INNOVATES ARBITRATION

Feb 2021

On 1 December 2020, the International Chamber of Commerce (ICC) published the latest version of its Arbitration Rules, which came into force on 1 January 2021. As Hong Kong is one of the world's leading centres for arbitration and many proceedings in Hong Kong are conducted under the ICC Rules, these innovations are of particular interest to Hong Kong...

CAUSE OF ACTION AGAINST BANKS IN AN INTERNET FRAUD

Jan 2021

It is not uncommon for individuals or companies to fall victim to internet fraudsters. The victims are often deceived to deposit money into accounts purportedly belonging to business partners and investment brokers who turn out to be fraudsters. This has become a widespread phenomenon across the globe, with the accrued damage amounting to an estimated 100 billion euros annually... 

RECHTLICHE SCHRITTE GEGEN BANKEN BEI INTERNET BETRUG

Jan 2021

Internet Betrug, bei welchem gutgläubige Personen oder Unternehmen dazu verleitet werden, Geld auf Konten von vermeintlichen Geschäftspartnern oder Investment Brokern zu überweisen, die sich dann als Betrüger herausstellen, oft mit dem Totalverlust des Geldes, haben seit vielen Jahren zugenommen und sind inzwischen ein weitverbreitetes Problem mit Schaden in Höhe von fast 100 Milliarden Euro pro Jahr. 

HKEX'S PROPOSAL ON CORPORATE WEIGHTED VOTING RIGHTS

Jan 2021

Corporate voting is a right enjoyed by corporate shareholders allowing them to express their opinions on matters relating to the company they have invested in via their investment vehicle (Special Purpose Vehicle, SPV). Most companies follow the ‘one share, one vote’ principle, but other voting structures are available...

BUSINESS NAVIGATES HONG KONG'S NEW NATIONAL SECURITY LAW

Oct 2020

Hong Kong’s national security law caused considerable concern when it was enacted in June. Global Insight assesses the implications for businesses operating in the territory... <Click Here>

HONG KONG'S NEW ORIGINAL GRANT PATENT (OGP) SYSTEM

Oct 2020

New System Aims to Encourage Innovation - the Original Grant Patent (“OGP”) system was launched in December 2019 as a reform measure that encourages innovation and IP trading in Hong Kong. We welcome this change in the law to better protect inventions...

HOW TO KEEP A SIGNIFICANT CONTROLLERS REGISTER (SCR)

Oct 2020

In order to fulfil the international obligations as a member of the FATF (Financial Action Task Force) regarding MLTF (Money Laundering and Terrorist Financing) issues, Hong Kong has, with effect of 1 March 2018, amended the Companies Ordinance...

DIRECTORS' DUTIES

Aug 2020

Responsibilities and liabilities of directors come from various sources, including the Articles of Association of the company, case law and statute law. Non-compliance may expose directors to civil or even criminal proceedings and disqualification...

LITIGATION 101: SAVE TIME, MONEY WITH SANCTIONED OFFERS

Jul 2020

The Art of Economical Litigation. It might seem so simple at first: when someone owes you money, you ask for it back. However, in the arsenal of a litigation lawyer, and over the course of a law suit, different styles, strategies and methods may need to be used in different cases, or at different stages of a case to obtain your money back most effectively and economically. Saving time and costs should always be kept in mind by lawyers as one of their top priorities...

SECURITY LAW, US SANCTIONS COMPLICATE OPERATIONS FOR HK FUND FIRMS

Jul 2020 - Financial Times

Asset managers in Hong Kong may face mounting compliance pressures as they try to navigate risks linked to both the national security law and the ensuing U.S sanctions set to be imposed on certain individuals and entities in the territory...

AN INTRODUCTION TO THE INTERNATIONAL COMMERCIAL TERMS: INCOTERMS©

Jun 2020

The International Commercial Terms (Incoterms©) feature a series of three-letter trade terms which each presents accurate rules for exchange of goods for international sales contracts, and deal with the passage of risk from the seller to the buyer, and which party bears which costs...

HONG KONGER REGIERUNG ÜBERNIMMT TEILE DES GEHALTS DER MITARBEITER

Jun 2020

Im Frühjahr 2020 hatte die Hong Konger Regierung entschieden, der lokalen Wirtschaft mit einer weiten Anzahl von finanziellen Hilfen zu Hilfe zu kommen, nachdem zuerst die Proteste in 2019 und dann der COVID 19 Virus einen Doppelschlag für die lokale Wirtschaft bedeuteten...

WEITERE LIBERALISIERUNGSMASSNAHMEN IM CHINA - HONG KONGER FREIHANDELSABKOMMEN

Jun 2020

Sowohl China als auch Hong Kong sind Mitglieder der Freihandelsorganisation WTO; da Hong Kong allerdings ein Teil von China ist, greifen die WTO Regelungen zum Freihandel nicht auf die innerstaatlichen Beziehungen zwischen Hong Kong und China. Von daher wurde schon kurz nach der Rückgabe Hong Kongs an China im Jahr 2003 ein eigenständiges Freihandelsabkommen zwischen Hong Kong und China geschlossen...

DIE INVESTMENTHUBS DUBAI, HONGKONG UND SINGAPUR

Jun 2020

Dieses Praktikerbuch vermittelt interessierten Investoren erstmals einen Gesamtüberblick über die klassischen Investmenthubs Dubai, Hongkong und Singapur. Neben den investitionsrechtlichen Rahmenbedingungen werden die steuerrechtlichen Grundstrukturen erläutert und die wirtschaftsrechtlichen Aspekte zur Bedienung von angrenzenden Kernmärkten (wie Saudi-Arabien, Indonesien und VR China) beleuchtet. Doppelbesteuerungsabkommen und bilaterale Investitionsschutzabkommen werden dargestellt. Das Buch richtet sich an Praktiker und Entscheidungsträger, die im asiatischen Wirtschaftsraum aktiv sind oder dort aktiv werden wollen...

SPRINGBOARD INJUNCTION: HOW TO PROTECT YOUR BUSINESS

Jun 2020

Legal Principles
Springboard injunctions serve to eliminate or at least reduce economic loss to an employer due to obtained from the erstwhile employment...

CUSTODY AND ACCESS TO CHILDREN AFTER DIVORCE

May 2020

Custody, Care and Control and Access to Children After Divorce
There are few more testing times in a person’s life than the break-up of a marriage. This may be even more so when children are involved and there is no agreement as to their custody, care and control...

PRENUPTIAL AGREEMENTS AND THE HONG KONG SPECIAL ADMINISTRATIVE REGION

May 2020

Introduction To Prenuptial Agreements
A prenuptial agreement is a signed and written contract entered into by parties to a prospective marriage. The agreement sets out how their assets and liabilities are to be divided if the marriage is later dissolved...

APPLICATIONS FOR INJUNCTIONS

May 2020

The Hong Kong Court Has Power To Grant Interim Injunctions
In cases where there is a real risk that a Defendant or intended Defendant will dissipate assets to avoid a claim, the Hong Kong Court may upon application order that the Defendant's assets be frozen until the determination of the claim. If the writ has not yet been issued the Plaintiff will have to undertake to do so forthwith...

CONTESTED PROBATE OF A WILL – LEGAL PROCESS

May 2020

Applications may be made to the Court for:
1. the grant of probate of the will, or letters of administration of the estate if there is no will, of a deceased person;
2. the revocation of a grant already made; or
3. a decree pronouncing for or against the validity of a will...

EMAIL FRAUD AND HOW TO GET BACK YOUR MONEY

May 2020

The email, that blessing and curse of modern life, has given rise in recent years to multiple criminal activity. An example of this is when an unscrupulous individual hack into a person’s or company’s email account and intercepts correspondence in which directions are given for the transfer of money, for example for payment of goods...

FORCE MAJEURE/ HÖHERE GEWALT IN ZEITEN DES CORONAVIRUS

May 2020

Durch den Ausbruch des Coronavirus in China wurden die landesweiten Ferien zu Chinese New Year um mehrere Wochen verlängert, was dazu führte, dass Fabriken und Betriebe landesweit geschlossen blieben und nicht produzierten...

AKTUELLE HINWEISE FÜR ARBEITGEBER IN HONG KONG BEZÜGLICH DES CORONA VIRUS

May 2020

Mit der Verbreitung des neuartigen Corona Virus ("Wu- Flu“) in Mainland China, aber auch in Hong Kong kommt es zu einer Häufung von Nachfragen der Arbeitgeber in Hong Kong, wie in dieser Situation zu reagieren ist, um auf der einen Seite die Mitarbeiter zu schützen, auf der anderen Seite aber die Fortführung des Geschäfts zu garantieren...

DER HONG KONGER JAHRESHAUSHALT 2020/2021

May 2020

Wie jedes Jahr im Februar hielt der Hong Konger Finanzminister Paul Chan am 26. Februar 2020 seine jährliche Rede zur Finanzlage Hong Kongs und gab einen Ausblick über die Finanzen für das nächste Haushaltsjahr 2020/2021, welches zum 01. April 2020 beginnt...

MERGERS AND ACQUISITIONS

May 2020

In business-friendly Hong Kong company directors often find themselves needing advice on the sale, purchase, and mergers of businesses. There are a number of ways in which such transactions may be carried out and the directors have to decide, for example, whether to buy and sell the shares in the company itself or alternatively the underlying assets...

NEUREGELUNG VON MUTTERSCHAFTSURLAUB IN HONG KONG

May 2020

Bereits in 2018 machte die damals neue Regierungschefin Carrie Lam den Vorschlag, Mutterschaftsurlaub von den bestehenden 10 Wochen auf 14 Wochen zu erhöhen. Die entsprechende Vorlage zur Änderung des Arbeitsgesetzes (Employment Ordinance) wurde nun endlich am 27. Dezember 2019 veröffentlicht...

RECOGNITION OF FOREIGN JUDGEMENTS IN HONG KONG

May 2020

There are occasions when a judgement obtained in a court outside Hong Kong has to be enforced against the Defendant’s assets within Hong Kong. There are two procedures for obtaining legal authority for enforcement within Hong Kong. Firstly it may be enforced through the common law and secondly it may be enforced under the Foreign Judgements (Reciprocal Enforcement) Ordinance...

THE ADMINISTRATION OF WILLS AND ESTATES IN HONG KONG

May 2020

After a loved one dies relations have the added burden at a time of bereavement of winding up the estate. The assets in the estate will be frozen from the date of death so there can be temporary hardship for dependents. There are two types of administration of estates, depending upon whether the deceased left a will. It should be noted that in Hong Kong it is a criminal offence to deal with a deceased’s estate before the Court has granted administration...

TRADEMARK REGISTRATION

May 2020

‘What's in a name?’ Every business has a name and that name can be more easily identified and recalled if it is rendered in a particular way. For that reason those operating businesses often design and register a trademark. The process of registration in Hong Kong is relatively easy and straight forward and protects it against being copied or imitated by competitors...