As of May 23, 2024, the Companies (Amendment) (No. 2) Ordinance 2024 has officially come into force, marking the first introduction of a statutory company re-domiciliation mechanism in Hong Kong.

The new regime enables companies incorporated outside Hong Kong—but with core business operations in the city—to “re-domicile” to Hong Kong while maintaining their original legal entity, ensuring:

Continuity of legal corporate identity

Full preservation of existing assets, contracts, and liabilities

Seamless business transition with no need to wind up and re-establish operations

Key Policy Highlights

Streamlined Process, Clear Requirements

Companies with sound background, good standing, proper member and creditor protections, and sufficient solvency can apply for re-domiciliation.

Legal Continuity Ensured

Once registered in Hong Kong, the company retains its legal identity. All rights, obligations, contracts, and legal proceedings remain intact, ensuring smooth continuity for employees, clients, and stakeholders.

Boost to Headquarters Economy & Investment

This move enhances Hong Kong’s attractiveness as a business hub, drawing high-quality overseas enterprises to set up or relocate their regional HQs. It also stimulates growth in local professional services—legal, accounting, compliance, etc.

Under the new Ordinance, non-Hong Kong incorporated companies that meet the required criteria—corporate integrity, governance, creditor safeguards, and solvency—can apply to re-domicile. Their legal entity status remains unchanged throughout, and all property, rights, obligations, and legal proceedings are unaffected. This is a major step forward for Hong Kong’s long-term development.

First Movers Are Already Taking Action!

AXA has announced that AXA Insurance (Bermuda) Limited intends to re-domicile to Hong Kong (pending regulatory approval) and will be renamed AXA Financial Insurance (Hong Kong) Limited upon completion. This move reflects strong confidence in Hong Kong’s legal infrastructure and business environment.

Infographic Suggestions for Visuals:

1. Re-domiciliation Process (Timeline):

Intent → Preparation → Compliance Check → Application to Companies Registry → Approval → Certificate of Re-domiciliation IssuedIdeal 

2. Candidate Profile (Infographic):

Incorporated in offshore jurisdictions (e.g., BVI, Bermuda)

Core business or clientele located in Hong Kong

Seeking simplified tax & compliance handling

Aiming to enhance brand credibility and financing flexibility

 A Legacy of Strength: Hong Kong’s Insurance Industry

In early 2024, the updated Guideline GN16 was released, enhancing information transparency and better safeguarding policyholders’ interests.

Why Now?

The new company re-domiciliation regime optimizes Hong Kong’s business environment and gives global companies greater flexibility in corporate structuring.

Considering moving your business to Hong Kong? 

Now is the time. For feasibility assessments, legal insights, and compliance support—get in touch with our expert team.