Family

JUST

Patrick

Gains

<div class="flex-shrink-0 flex flex-col relative items-end">
 <div>
  <div class="pt-0">
   <div class="gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full">
    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>The government has proposed a new tax break for private equity funds and hedge funds. Also, investment vehicles are used by the super-rich.</strong></h4>
   </div>
  </div>
 </div>
</div>
<div class="group/conversation-turn relative flex w-full min-w-0 flex-col agent-turn">
 <div class="flex-col gap-1 md:gap-3">
  <div class="flex max-w-full flex-col flex-grow">
   <div class="min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words [.text-message+&amp;]:mt-5" dir="auto" data-message-author-role="assistant" data-message-id="c10ff094-9c9d-4dfe-a387-cca0bf818ad2" data-message-model-slug="gpt-4o-mini">
    <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]">
     <div class="markdown prose w-full break-words dark:prose-invert light">
      <p>According to the <a href="https://www.ft.com/content/543829f0-c07a-43ed-a3e4-57759ca79285" target="_blank" rel="noopener noreferrer nofollow">Financial Times</a>, this break would allow them to avoid paying crypto tax on gains from cryptos. Like private credit and overseas property.</p>
      <div class="group/conversation-turn relative flex w-full min-w-0 flex-col agent-turn">
       <div class="flex-col gap-1 md:gap-3">
        <div class="flex max-w-full flex-col flex-grow">
         <div class="min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words [.text-message+&amp;]:mt-5" dir="auto" data-message-author-role="assistant" data-message-id="2ab3d392-bb22-432b-a4f9-a39e7cfe940a" data-message-model-slug="gpt-4o-mini">
          <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]">
           <div class="markdown prose w-full break-words dark:prose-invert light">
            <h5><strong>Hong Kong Targets Investors with New Tax Breaks to Compete Globally</strong></h5>
           </div>
          </div>
         </div>
        </div>
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
</div>
<p>This new plan is a clear effort to compete with Singapore and Switzerland. These two financial hubs have already been attracting investors with low taxes.</p>
<p>The government’s proposal emphasizes that <a href="https://www.altcoinbuzz.io/?s=taxes" target="_blank" rel="noopener noreferrer nofollow">taxes</a> play a key role in deciding where investors choose to set up their operations. Hong Kong hopes to create a more welcoming environment for asset managers. This will make the region more attractive for high-net-worth firms looking for a place to invest.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ed-1f1f0.png" alt="🇭🇰" class="wp-smiley" style="height: 1em; max-height: 1em;"> Hong Kong plans tax breaks on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and crypto gains for hedge funds and family offices. <a href="https://t.co/8p3ZUxuGpZ" rel="noopener noreferrer nofollow">pic.twitter.com/8p3ZUxuGpZ</a></p>
 <p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1862077810958840126?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 28, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Hong Kong is already positioning itself as a center for crypto businesses. With Bitcoin prices climbing, the timing couldn’t be better. The government wants to expand tax exemptions to include more types of investments like carbon credits and overseas property. This would allow even more opportunities for investment without the tax burden.</p>
<h5><strong>More About Crypto Taxes in Hong Kong</strong></h5>
<p>Patrick Yip, a tax expert from Deloitte China, says that this move would offer “certainty” to family offices and investors. Family offices are private investment firms set up by wealthy families to manage their money. Many of these offices in Hong Kong already have a chunk of their portfolios in digital assets like cryptocurrencies. Yip believes that by offering tax exemptions, Hong Kong could boost its standing as a major hub for financial and crypto trading.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Hong Kong Goes Full DeFi Mode: Tax-Free Gains for the Big Dogs</p>
 <p>Hong Kong’s flex? No taxes on crypto gains for private equity, hedge funds, and the 1%’s elite investment setups.</p>
 <p>Translation: More whales, more liquidity, more action.</p>
 <p>For startups grinding in Web3, this could be… <a href="https://t.co/hpUfZ4Or80" rel="noopener noreferrer nofollow">pic.twitter.com/hpUfZ4Or80</a></p>
 <p>— Mario Nawfal’s Roundtable (@RoundtableSpace) <a href="https://twitter.com/RoundtableSpace/status/1862009951398330747?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 28, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>For years, wealthy Chinese individuals have been setting up private investment funds outside of mainland China. Partly due to tighter regulations from President Xi Jinping. But with Singapore’s stricter anti-money laundering laws, Hong Kong sees an opportunity to attract more investors. This is by offering a smoother path for setting up family offices and investment funds.</p>
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg"></a></p>
<div class="youtube-embed" data-video_id="gX1HZoTPbAI"><iframe title="500% Pump Altcoin?? Tornado Cash , THENA, Cardano!" width="696" height="392" src="https://www.youtube.com/embed/gX1HZoTPbAI?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/hong-kong-plans-crypto-tax-break-to-attract-investors/" rel="noopener noreferrer nofollow">Hong Kong Plans Crypto Tax Break to Attract Investors</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Hong Kong Plans Crypto Tax Break to Attract Investors

Altcoin Buzz

Other articles published on Nov 28, 2024

TFUEL and PYTH Approach Key Resistance: Will Their Next Breakouts Trigger a Rally?

These 3 cryptos could surpass Solana with 7,000% growth

Binance Labs New Investment: What is Kernel?

Monero (XMR) vs. Ripple (XRP): What Are the Key Differences?

Ethereum Ecosystem Tokens Surge: ENA’s Position for Q1 2025

Weekly Article Recap: 11/18-11/22

Join our free newsletter for daily crypto updates!