Hong Kong – SFC Announced Changes To The Grant Scheme Available For OFCs And REITs.
With effect from 11 April 2025, investment managers applying for the Hong Kong Government’s grant scheme (Scheme) for open-ended fund companies (OFCs) and real estate investment trusts (REITs) will be subject to further reduction in grant caps (click here for the announcement issued by the Securities and Futures Commission (SFC) on 31 March 2025):
OFCs incorporated in or re-domiciled to Hong Kong – the Scheme will continue to cover 70% of eligible expenses paid to Hong Kong-based service providers, subject to a maximum of one (currently three) OFC per investment manager and a cap of:
- HK$300,000 (currently HK$1 million) per publicly offered OFC
- HK$150,000 (currently HK$$500,000) per privately offered OFC
SFC-authorised REITs listed in Hong Kong with a minimum market capitalisation of $1.5 billion at listing – the Scheme will continue to cover 70% of eligible expenses paid to Hong Kong-based service providers, subject to a cap of HK$5 million (originally HK$8 million per REIT).
For grant applications that are submitted before 11 April 2025, the current parameters with higher caps of the scheme will apply.
With continued support from the Hong Kong Government, the Scheme remains available up to 9 May 2027 on a first-come-first-served basis or where the government’s funding is fully committed, whichever earlier.
