Hong Kong’s Insurance Authority has welcomed the government’s consultation conclusion and legislative proposals on the introduction of a company re-domiciliation regime, which aims to simplify administrative procedures and reduce legal costs for offshore companies seeking to relocate their headquarters to Hong Kong. The regime is expected to boost the city’s competitiveness as an international financial centre and attract more companies to set up their headquarters in the territory. The Insurance Authority has pledged to work closely with the government and industry stakeholders to ensure the timely introduction of the re-domiciliation regime. The move is seen as a strong vote of confidence in Hong Kong’s competitiveness as an international financial centre.
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