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Hong Kong’s tenuous trust laws get modern makeover

“In 30 years of practice, I’ve never set up a Hong Kong trust other than for charities,” says Michael Olesnicky, partner and trust practitioner at Baker & McKenzie, highlighting the archaic and inconvenient regulatory framework governing trusts registered in Hong Kong. “Hong Kong is a major trusts centre, but it’s used more as a venue for managing offshore trusts and…

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