Hong Kong just cameout with an amendment to the Trust Law Bill 2013. The bill was passed on July17, and will be enacted on December 1, 2013. This amendment is the firstsubstantial change since 1934. As a result, Hong Kong is a more attractiveplace for people interested in creating a trust. These are some of thehighlights of the amendment:
- Inherent powers for the Settlor
- Perpetual trusts are allowed
- Forced heirship protection
- Adjustments to the trustees default powers
- Liability exemptions, especially for beneficiaries
See Hong Knong Trust Law (Amendment) Bill 2013
, Vista Group, Sep. 2013.
