Hong Kong: Wealth Management
Estate Tax was abolished in 2005. The Revenue (Abolition of Estate Duty) Ordinance 2005 ["the Ordinance"] came into effect on February 11, 2006. No estate duty affidavits and accounts need to be filed and no estate duty clearance papers are needed for the application for a grant of representation in respect of deaths occurring on or after that date. The estate duty chargeable in respect of estates of persons dying on or after July 15, 2005 and before February 11, 2006 ("transitional estates") with the principal value exceeding HKD7.5 million was reduced to a nominal amount of HKD100.