In a bid to further its ambitions as a digital asset hub, Hong Kong authorities are planning to exempt investment vehicles like family offices from paying taxes on crypto gains.
Hong Kong is planning to introduce tax exemptions for private equity funds, hedge funds and family offices on gains from cryptocurrencies, overseas properties, carbon credits, private credit and other assets, according to a «Financial Times» report citing a 20-page proposal.
In the proposal, taxation was named as a key consideration for asset managers when considering a base for operations. There will be a six-week consultation on the new proposals.
The fresh plans are being made in the midst of another historic crypto rally as investor optimism is on the rise with expectations of supportive US policies under President-elect Donald Trump. Bitcoin set a new all-time high earlier this week after passing $99,800.
