ANREV Regulatory and Tax Committee is pleased to announce that the briefing Hong Kong Fund Tax Reforms: Implications for Real Estate Funds, to be held on Monday, 6 July 2026 in Hong Kong, is now open for registration.

The Hong Kong SAR government has published a bill to enhance the preferential tax regimes for privately offered funds and carried interest.  The bill is expected to become law later this year.

The revised rules significantly improve Hong Kong’s position as a fund management centre for real estate funds, providing greater flexibility for investing in real estate, greater flexibility over the use of common non-corporate vehicles, a clear inclusion of income from credit strategies and debt push down and coverage of a much wider range of fund structures.  While, as expected, there are some carve outs for real estate these are relatively limited by international standards.

The rules also significantly enhance the tax exemption for income from carried interest, which has in recent years been an area of uncertainty for fund managers in Hong Kong.  This change is expected to be highly interesting to fund management personnel operating in Hong Kong.

Taken together the new rules should provide fund managers with more choice over the structure of their real estate funds and simplify the way in which fund managers based in Hong Kong are able to operate.

In this presentation, Ivor Morris, a tax partner at KPMG and chair of the ANREV regulatory and tax committee will talk through the key parts of the proposals as they effect real estate funds.  Ivor has twenty-five years’ experience advising real estate fund managers on tax matters both in Europe and Asia and has been based in Hong Kong for the past seventeen years.

We would like to thank KPMG for sponsoring this event.