Hong Kong

Oldham, Li & Nie (OLN) is pleased to announce the launch of its dedicated Family Office Services practice, expanding its capabilities in private wealth, trusts, succession planning, and cross-border structuring to meet the growing needs of international families. Hong Kong has established itself as a premier destination for family offices, underpinned by common law system, attractive tax regime, and government-backed initiatives such as FamilyOfficeHK, tax concessions for Family-Owned Investment Holding Vehicles (FIHVs), and the New Capital Investment Entrant Scheme (New CIES). In 2026, the city has become the world’s largest cross-boundary wealth management centre, according to the Boston Consulting Group[i], reinforcing its appeal for global wealth planning,   OLN’s new Family Office Services practice will provide integrated legal support across the following areas:   Family Office Establishment and Structuring Wills and Succession Planning Trusts and Asset Protection Complex Estate Planning Cross-Border Tax and Structuring Advice, including the US and France elements International Family Office Coordination Ongoing Accounting and Reporting Outsourced CFO and COO Support Strategic Business Advisory Services Tailored to Family Offices and Private Investment Structures Litigation Support Immigration Law   “Hong Kong offers an exceptional platform for families seeking to build a lasting presence in Asia while staying closely connected to opportunities around the world,” said Gordon Oldham, Senior Partner. “At OLN, we understand that every family’s journey is unique. Drawing on our longstanding strengths across private client, tax and corporate services - as well as our dedicated US tax and French practices - we take a truly personal approach. We work alongside our clients to create tailored structures that not only protect and grow their wealth, but also reflect their values, aspirations and long-term legacy.”   The firm’s Family Office Services practice adopts a multidisciplinary approach, working closely with third-party fund managers and financial advisers.   For more information about the Family Office Services practice, please visit https://oln-law.com/practice-areas/family-office-services/   Contact: [email protected]   About Oldham, Li & Nie:   Oldham, Li & Nie is a an independent law firm with four decades of experience in Hong Kong. The firm currently has over 45 lawyers, with specialists in corporate and commercial law, dispute resolution, employment, family, intellectual property, private client and tax law.   For more information about Oldham, Li & Nie, please visit  https://oln-law.com/.   [i] https://www.info.gov.hk/gia/general/202605/27/P2026052700809.htm

Navigating the end of "no-fault" evictions, strict compliance deadlines, and the shifting tax landscape for overseas property investors The UK property market has long been a favoured destination for Hong Kong investors. Over the past few years, the number of Hong Kong residents letting out property in Britain has surged, with recent data suggesting they now make up approximately 10% of all UK landlords. Drawn by the prospect of steady rental yields, a weaker pound, and the desire to secure homes for children studying at UK universities, Hong Kong buyers have built an estimated £10.8 billion portfolio across England and Wales. However, a seismic shift has just occurred in the UK rental landscape, and overseas landlords need to pay close attention. On 1 May 2026, the Renters’ Rights Act 2025 (RRA) officially came into force, introducing the most substantial changes to the private rented sector since the 1980s. For Hong Kong residents managing UK properties from over 6,000 miles away, these new regulations introduce a layer of complexity that demands immediate action and careful navigation, particularly when coupled with incoming tax digitisation rules. The end of "no-fault" evictions and the rise of assured periodic tenancies Perhaps the most headline-grabbing change brought about by the RRA is the abolition of Section 21 "no-fault" evictions. Previously, landlords could ask tenants to leave with two months' notice without providing a reason, provided the fixed term of the tenancy had ended. This provided a safety net for overseas investors who might suddenly need to sell the property or move family members in. Now, all new and existing Assured Shorthold Tenancies (ASTs) are transitioning into Assured Periodic Tenancies (APTs). This means tenants have the right to remain in the property indefinitely, and landlords can only regain possession by proving a valid legal ground under Section 8 of the Housing Act 1988. For a Hong Kong landlord, this transition is not necessarily automatic on 1 May 2026. If the 1st of May fell in the middle of a rental period, the tenancy only converts at the beginning of the next rental period. Landlords must understand exactly when their specific tenancies convert to ensure they are operating within the correct legal framework. Mandatory information and compliance deadlines Distance and time zones already make managing UK properties challenging for Hong Kong investors. The RRA adds strict administrative deadlines to this mix. Landlords with ASTs continuing beyond 1 May 2026 were legally required to serve their tenants with a government-published information sheet detailing the changes by 31 May 2026. Failure to comply with this requirement carries a risk of financial penalties of up to £7,000, making it crucial for overseas landlords to coordinate closely with their UK letting agents to ensure all paperwork is served promptly and correctly. Furthermore, any new APTs granted on or after 1 May 2026 must include specific written information about the terms of the tenancy, as set out in regulations that also came into force on that date. While existing tenancy agreements do not need to be rewritten, ensuring all new documentation meets the updated standards is vital. Reclaiming possession: the new rules of engagement While Section 21 is gone, landlords are not left entirely without recourse if they need their property back. The RRA has expanded and strengthened the Section 8 grounds for possession. If a Hong Kong investor decides to sell their UK property, or if they (or a close family member) intend to move in, these are now mandatory grounds for possession, requiring two months' notice. However, landlords cannot simply use these grounds as a backdoor eviction method; the courts will require evidence of genuine intent. For landlords dealing with problematic tenants, the rules have also been adjusted. The mandatory ground for repeated rent arrears has been strengthened, allowing landlords to seek possession with four weeks' notice if a tenant has been at least two months in arrears on three separate occasions over a three-year period. The definition of antisocial behaviour has also been broadened, allowing for immediate notice to be served. Crucially, if a landlord served a Section 21 notice before the 1 May 2026 deadline, they cannot sit on it. They must follow up promptly and take court action to recover possession, usually before a strict cut-off date (31 July 2026), or risk losing those rights entirely and having to start again under the new Section 8 rules. Pets, rent reviews, and the road ahead The RRA also introduces significant changes to everyday tenancy management. It is now an implied clause in all assured tenancies that a tenant can request consent to keep a pet, and landlords can only refuse on reasonable grounds within a 28-day window. For an overseas landlord, evaluating these requests and communicating decisions within the legal timeframe requires efficient property management on the ground. Additionally, the Act impacts rent reviews. Contractual rent reviews carried out before 1 May 2026 are only binding if the increased rent also became due prior to that date. Moving forward, rent increases are limited to once per year, requiring statutory notice. Tax implications: income tax and the non-resident landlord scheme Beyond the regulatory shifts of the RRA, Hong Kong residents must also navigate the complexities of UK taxation on their rental income. Under the Non-Resident Landlord Scheme (NRLS), letting agents are required to deduct basic rate income tax (20%) from rental income before paying the overseas landlord. Landlords can apply to HMRC to receive rent gross, provided their UK tax affairs are up to date, but they remain liable to declare this income via a UK Self-Assessment tax return. The RRA's restriction on rent increases to once per year provides tenants with stability but means landlords must carefully plan their financial trajectory, especially given that mortgage interest relief is now restricted to a 20% basic rate tax credit rather than a full deduction from rental profits. Furthermore, a major compliance hurdle is approaching: Making Tax Digital (MTD) for Income Tax. From 6 April 2026, non-resident landlords with a qualifying gross income over £50,000 will be mandated to keep digital records and submit quarterly updates to HMRC using approved software. This threshold drops to £30,000 in April 2027, bringing the vast majority of Hong Kong investors into scope. Preparing for MTD is no longer optional; it requires immediate engagement with accountants to ensure software compliance. The inheritance tax trap Finally, while managing day-to-day income tax is essential, Hong Kong investors must not overlook the long-term implications of UK Inheritance Tax (IHT). Regardless of a landlord's domicile or residence status, UK property is always subject to UK IHT at a rate of 40% on the value of the estate above the £325,000 nil-rate band. As detailed in our previous insight on The Wide Net of UK Inheritance Tax, failing to plan for IHT can leave families with substantial tax liabilities. With the UK government shifting to a residence-based IHT system from April 2025, the rules surrounding overseas assets are also changing for long-term UK residents, making bespoke estate planning more critical than ever. For Hong Kong residents investing in the UK, the Renters' Rights Act 2025 fundamentally alters the balance of power in the private rented sector. The days of hands-off, easily terminated tenancies are over. Navigating this new landscape requires proactive engagement, a thorough understanding of the new statutory grounds for possession, and, more than ever, reliance on competent, legally compliant letting agents and tax advisors in the UK.   Author: Polly Chu

Charles Russell Speechlys today announces the appointment of Kevin Lee as Head of Private Client in Asia, joining the Firm as part of its continued strategic investment in our international private client offering and its Asia presence. Kevin joins with his established team of fee-earners, including Partner Wei Kang, two associates and one Legal Executive from Stephenson Harwood, where he was a Partner and led the Private Client practice in Greater China. Kevin is widely recognised as a leading adviser to UHNW individuals, families and institutional trustees. His experience spans the PRC, Hong Kong, Singapore, the US, Canada and the UK. Kevin’s client base includes prominent Asian families and institutional trustees, listed company founders, UHNWIs, family offices, entrepreneurs and more. He advises clients on complex cross‑border tax and trust structuring, succession planning, asset preservation, cross-border transactions, family governance and multi‑jurisdictional private client matters, making him a sought-after advisor for clients navigating the intricacies of wealth management and corporate operations in Asia, Canada, the US and the UK. Wei Kang will join the Firm as a Private Client Partner in Hong Kong on 30 May 2026. Wei is a private wealth expert, guiding high net worth families through complex estate planning and succession challenges. She advises high net worth families and trustees on intricate matters such as family trusts, Canadian tax, and succession planning across jurisdictions. Her clients, ranging from entrepreneurs to listed company founders, rely on her strategic insight and practical solutions to safeguard their wealth and ensure smooth generational transitions. Wei's expertise includes private wealth structuring advisory work, multijurisdictional tax advisory, designing and implementing family governance structures, pre-immigration planning, and philanthropic foundation planning. In addition to Wei, Kevin is bringing Private Client Associates Lulu Zhang and Chi Yan Ho, and Legal Executive, Eileen Lai. All three of them will join the Firm in July. Simon Green, Real Estate Partner and Head of Asia, said: “Kevin and his team’s arrival gives us a considerable market advantage as we now have the biggest Private Client team in Asia. The team will significantly enhance our ability to support clients with increasingly international needs, particularly in the UHNW and family office space where demand across Asia continues to grow.” Jeffrey Lee, Private Client Partner and Head of the Firm’s Singapore office, added: “Kevin and Wei’s appointments also reinforce our ability to provide integrated Private Client advice across Hong Kong, Singapore, the UK, the US and Canada, working as one team to support families and founders wherever they and their assets are based.” Silvia On, Private Client Partner and Head of the Firm’s Hong Kong office, said: “We are thrilled to welcome such a talented and established team to our Private Client practice in Asia. They share our values and commitment to excellence, and their arrival reinforces the depth and breadth of advice we can offer to clients with sophisticated international structures and interests.” Kevin Lee, Consultant and Head of Private Client in Asia, commented: “I am delighted to be joining the Firm to lead its Private Client team in Asia at such an exciting time. The depth of expertise across the practice, combined with the firm’s strong international platform, creates a compelling offering for clients. I am very much looking forward to working with colleagues across the firm to support private clients, families and family offices with their increasingly complex and cross‑border needs. With the team, we are committed to growing the Firm’s International Private Client offering.” Kevin and his team are the latest addition to the Firm’s Asia offices. Last year, the Firm appointed Partner Tun Zaw Mra in the Corporate team in Singapore in January 2025, international arbitration Partners Henry Winter and Gavin Margetson in Singapore in June and Jue Jun Lu in London in September 2025. In May, the Firm also promoted nine lawyers to its Partnership, including six in Private Client across Italy, France and the UK. END For all media enquiries, please contact the Charles Russell Speechlys PR team: [email protected] About Charles Russell Speechlys: Charles Russell Speechlys is an international law firm with a focus on private capital, at the intersection of personal, family, business, and corporates. Its lawyers are based in 13 locations across the UK, Europe, Asia, and the Middle East, and through each of these locations, clients can access the full range of the Firm’s skills and expertise. Charles Russell Speechlys is a leader in the world of dynamic growth businesses, and a leading adviser to the world’s prominent creators and owners of private capital and their families.

Oldham, Li & Nie (OLN), a leading independent law firm in Hong Kong, is pleased to announce that Valerio Scimemi has joined the firm as a Registered Foreign Lawyer (Italy), further expanding OLN’s cross-border offering. Admitted to practice law in Italy since 2001 and before the Italian and European higher courts since 2015, Valerio brings more than 25 years of international legal experience. His practice focuses on commercial and corporate law, international contracts, M&A, extraordinary transactions, and cross-border business expansion.   Over the course of his career, Valerio has advised European and Asian clients on commercial, corporate and industrial law, labour law, banking and finance, intellectual property, and complex M&A transactions. He has particular expertise in business development and intermediation, as well as in the international expansion of businesses in the luxury fashion, oil and gas, F&B, and spirits sectors.   The addition of Valerio marks another important milestone in OLN’s strategic growth and reinforces the firm’s commitment to providing seamless international legal services. His appointment builds on the firm’s established Chinese, French and Japanese practices, as well as its U.S. tax advisory capability.   For more information about Valerio and his practice, visit: https://oln-law.com/our-people/valerio-scimemi/.   Contact: [email protected]   About Oldham, Li & Nie: Oldham, Li & Nie is a highly awarded full-service Hong Kong law firm whose commitment to professional excellence has been the cornerstone since its establishment in 1987.   The firm currently has over 45 lawyers, with specialists in corporate and commercial law, dispute resolution, employment, family, intellectual property, private client and tax law.   For more information about Oldham, Li & Nie, please visit  https://oln-law.com/.