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10. Further information Dedicated webpage for OFCs on SFC's website: https://www.sfc.hk/en/Regulatory-functions/Products/Open-ended- fund-companies SECURITIES AND FUTURES COMMISSION 證券及期貨事務監察委員會 -A A +A Eng 繁簡 Sitemap Contact us ? FAQS + Forms Lodge a complaint Media corner inf Q Search About the SFC Regulatory functions Rules and standards Published resources News and announcements Career Corporates Intermediaries Products • List of publicly offered investment products • List of ESG funds • Circulars • Open-ended fund companies - OFC Structure - Regulatory requirements - List of Registered OFCs - Post-registration matters - Useful materials • Consultations and conclusions • Forms & checklists • Real estate investment trusts • FAQs • Grant Scheme for Open-ended Fund Companies and Real Estate Investment Trusts Markets Enforcement Home > Regulatory functions > Products > Open-ended fund companies Open-ended fund companies The introduction of the open-ended fund companies (OFC) structure in Hong Kong is part of the SFC's initiatives to enhance market infrastructure to further develop Hong Kong as a full-service international asset management centre and a preferred fund domicile. Following completion of the public consultations and legislative process, the OFC regime came into effect on 30 July 2018. Overview QFC is an investment fund established in corporate form with limited liability and variable share capital in Hong Kong. As the primary regulator, the SFC processes registrations and oversees OFCs. The Companies Registry (CR) is responsible for the incorporation and corporate filings of OFCs. OFCs, whether publicly or privately offered, are required to be registered by the SFC. Same as other publicly offered funds, publicly offered OFCs are also required to obtain prior authorization from the SFC, unless an exemption applies. Key benefits • Cost-savings over offshore structure - no duplication of service providers or fees • Facilitate international fund distribution - corporate structure familiar to overseas investors ■ Cater for public and private funds - including listed and unlisted funds, hedge funds, private equity funds and closed-ended funds • Easy management - no annual returns nor mandatory annual general meetings • Grant Scheme for OFCS-a Government grant of up to HK$1 million per newly-incorporated or re-domiciled OFC ■ Tax incentives - OFCS benefit from Hong Kong profits tax exemptions How to apply One-stop establishment - Please submit the requisite documents to the SFC ([email protected]). SFC 證監會 43

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