Addendum
Hong Kong gets serious about aircraft leasing
November 1st 2017
Hong Kong made it clear it was on a mission to build the Special Administrative Region into an aviation finance hub with the coming out party of the Hong Kong Aircraft Leasing and Aviation Finance Association on November 1. Read More » In her speech at the packed official ceremony, Hong Kong’s top government official, chief executive, Carrie Lam Cheng Yuet-ngor, said that as a global financial centre and international aviation hub, Hong Kong possessed several favourable conditions necessary to thrive as an aviation hub including a free economy, rule of law, sophisticated legal services and a strong pool of talent in financial services and aviation.
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She said that since December 2015, the withholding tax between China and Hong Kong has been 5 % and now a dedicated tax regime has been enacted in Hong Kong that provides profit tax concessions for qualified aircraft lessors and aircraft leasing managers.
Association president, Stanley Hui, said the introduction of Hong Kong’s tax regime for the aircraft and aviation finance sector could capture up to 18% of the market in the next two decades.
“With our many established advantages, the industry’s concerted efforts and the government’s clear policy support, we are optimistic this could be achieved,” he said.
“This is just the beginning. Let us all work together to build and grow aircraft leasing and financing into Hong Kong’s new economic driver, and most importantly, a new home for aircraft leasing companies around the world.”
