In a city long defined by its role as a gateway between East and West, Hong Kong has moved to deepen its appeal as a home for global capital by reshaping the tax landscape for funds, family offices, and investment managers. A legislative bill introduced in June 2026 proposes sweeping concessions—retroactive to April 2025—that widen the circle of eligible vehicles, expand what counts as a qualifying investment, and ease the burden on those who manage wealth for a living. The reform reflects a perennial tension in financial governance: how to attract mobile capital through openness while preserv