观点 | OPINION CHINA OFFSHORE
司代持家族成员所持股份，从而实现对 家族企业股权控制。透过对上市公司控 股主体层面的董事委任安排，通常由委 托人或委任其家族成员担任，可分离受 益权与经营管理权，为未来家族成员退 出企业管理 层奠定基 础。透过信托公 司持有上市公司股份亦可避免外人轻易 看到股权架构及其家属的内部利益分 配机制，亦确保 家族 成员必 须一致行 动，减低家族内部斗争而损害上市公司 营运，并保留协商的私人空间。
信托基金在香港的税务优势 香港是亚洲第二大私募基金市场，截至 2018 年中，本港 私募 基金管 理 规模 达 1520 亿美元，而香港的资产管理规模达 3.1万亿美元，而非香港的投资者占三分 之二。设立离岸基金情况愈见普及，可 用作为财产保护、财富管理及传承等的 途径。「离岸基金」不受离岸司法管辖 以外的国家或地区的法律法规管制，但 基金管理人须受管理人所在国家或地 区的法律法规监管。相对地， 「在岸基金」 是在本港管理运作，但不在香港以外地 方注册的基金，注册及管理运作均在香 港进行。目前在香港以私人形式发售的 离岸基金享有利得税豁免，但以私人形 式发售的在岸基金却不可享有利得税 豁免。香港有避免双重课税协议网络， 更拥有大量提供专业服务的人才。当中 包括公司注册处于去年引入开放式基 金型公司，让投资基金能以公司形式成 立，藉着灵活发行和取消股份，供投资 者买卖基金。 不论成立信托的原因为何，多类的信托 让资产管理得以连贯，帮助委托人妥善 处理税务及财产事务，而毋须经历冗长 和昂贵的遗嘱承办程序。财产授予人在 转移资产的同时，亦能够平衡管理资产 的需要，鱼与熊掌，二者可得。
Through the appointment of listed companies' directors in holding mainstay level, which usually appoints trustee or other family members as the director, can separate the beneficial rights from the management rights, and lay the foundation for the family members' quitting from the management in the future. Through trust company to hold shares of listed companies can also avoid the equity structure and the internal benefit distribution mechanism to be easily seen by outsider. Meanwhile it ensures that family members must act in concert to reduce internal conflict which might damage the operation of listed companies, and retain private space for negotiation.
Tax Advantages of Trust Funds in Hong Kong Hong Kong is the second largest private equity market in Asia. By mid-2018, Hong Kong's private equity fund under management had reached US$152 billion, while Hong Kong's assets under management
had reached US$3.1 trillion, and non-Hong Kong investors accounts for two-thirds. The establishment of offshore funds is becoming more and more popular, which can be used as a way of property protection, wealth management and inheritance etc. Offshore funds are not regulated by laws and regulations of countries or regions beyond the offshore jurisdiction, but fund managers must be regulated by laws and regulations of the countries or regions where the managers are located. In contrast, onshore funds are managed and operated in Hong Kong, but not registered outside of Hong Kong, both registration and management are carried out in Hong Kong. Now, offshore funds sold by private in Hong Kong enjoy the profits tax exemption, but onshore funds sold by private cannot enjoy the profits tax exemption. Hong Kong has a Double Taxation Avoidance Agreements network and a large number of professionals. Including introducing the open-ended fund companies by the companies registry last year, which enables investment funds to be established as companies, and investors can buy and sell funds through flexibly issuing and cancelling shares. Whatever the reasons for the formation of trust, various kinds of trusts enable asset management to be coherent and help clients handle tax and property matters properly without having to go through lengthy and expensive testamentary procedures. In transferring assets, the settlor can also achieve the need to manage assets, you can implement them both.
Trusts, Foundations & Immigration Guide CHINA OFFSHORE
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