ILS World is pleased to announce ILS Fiduciaries (Hong Kong) Limited is formally licensed as a Trust or Company Service Provider (TCSP) under Hong Kong's new licensing regime.
TCSPs are now required to apply for a licence from the Hong Kong Companies Registry and satisfy a 'fit-and-proper' test before they can provide trust or company services as a business.
Hong Kong managing director, Lilian Cheung, said: "This is the first time TCSPs have been subject to their own regulatory regime in Hong Kong. As an international fiduciary we embrace the process of bringing Hong Kong into line with international standards and believe it will only increase the advantages of working in this jurisdiction."
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