HONG KONG: Launch of Grant Scheme for Open-Ended Fund Companies and Real Estate Investment Trusts

Monday May 10 2021

The Securities and Futures Commission (SFC) has announced the implementation of the Government’s grant scheme to subsidise the setting up of open-ended fund companies (OFCs) and real estate investment trusts (REITs) in Hong Kong.

For OFCs successfully incorporated in or re-domiciled to Hong Kong and SFC-authorised REITs successfully listed on the Stock Exchange of Hong Kong Limited, the scheme covers 70% of eligible expenses paid to Hong Kong-based service providers, subject to a cap of $1 million per OFC and $8 million per REIT.

The scheme will operate for three years and is open for applications starting today on a first-come-first-served basis. Details, including the eligibility criteria and application process, are set out in the Attachment.

The SFC also published frequently asked questions to provide guidance to the industry together with the grant application forms.

Click on the link for further information.