Hong Kong: Cost subsidies to set up or re-domicile Open-ended Fund Companies... Hong Kong: Cost subsidies to set up or re-domicile Open-ended Fund Companies announced as part of budget measures In his recent 2021-22 Budget Speech, Hong Kong's Financial Secretary confirmed the intended timing for submission of a legislative proposal to allow foreign investment funds to re-domicile to Hong Kong for registration as an Open-ended Fund Company. 148 1 the Financial Secretary (“ Financial Secretary“) of the Government of the Hong Kong Special Administrative Region (“ Hong Kong Government“) confirmed the intended timing for submission of a legislative proposal to allow foreign investment funds to re-domicile to Hong Kong for registration as an Open-ended Fund Company (OFC). The Financial Secretary also announced subsidies for the costs of setting up a new OFC or re-domiciling of foreign investment funds registering as an OFC in Hong Kong. The latest measures represent further important steps in ongoing enhancements and incentives to promote use of the OFC regime. We discuss the recent developments in more depth below.