The Hong Kong Insurance Authority (HKIA) has expressed strong support for the Companies (Amendment) (No. 2) Bill 2024, which passed on May 14, 2025. This new legislation provides a framework for overseas insurance companies to re-domicile to Hong Kong.
The HKIA expects this new regime to draw insurers that are incorporated outside Hong Kong but already have a significant presence in the city. The move is seen as an opportunity for these firms to benefit from Hong Kong’s business environment while remaining competitive in the region.
According to Clement Cheung, CEO of the HKIA, the legislation offers a simpler and more cost-effective option for companies to relocate their corporate domicile to Hong Kong. The HKIA also plans to collaborate with relevant authorities to help insurers through the re-domiciliation process.
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