Hong Kong plans to exempt private equity funds, hedge funds and the investment vehicles of the super-rich from paying tax on gains from cryptocurrencies, private credit investments and other assets, as it seeks to become a top offshore finance hub.
In a 20-page proposal, which was circulated this week and seen by the Financial Times, the Chinese territory’s government said taxation is “one of the key considerations” for asset managers when deciding where to base their operations and it wanted to create a “conducive environment” for them.
Hong Kong has sought to position itself as a centre for crypto businesses….
