# AGATE Glossary, Hong Kong Control Architecture Terms Plain-text companion to /glossary/. Defined terms used across AGATE's content with statutory anchor points where they apply. Updated: 2026-05-18. --- AMLO :: Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615). Customer due diligence, beneficial-owner and control disclosure at applicable thresholds, record-keeping, and TCSP licensing obligations for Hong Kong authorised institutions and trust or company service providers. https://www.elegislation.gov.hk/hk/cap615 Banking Ordinance (Cap. 155) :: Principal statute governing authorised institutions in Hong Kong. Administered by the HKMA. https://www.elegislation.gov.hk/hk/cap155 Cap. 29 (Trustee Ordinance) :: Hong Kong trust statute, as amended in 2013. The amendments abolished the rule against perpetuities for Hong Kong trusts and codified reserved settlor powers in section 41X. https://www.elegislation.gov.hk/hk/cap29 Cap. 76 (Recognition of Trusts Ordinance) :: Gives effect in Hong Kong to the Hague Convention on the Law Applicable to Trusts and on their Recognition. https://www.elegislation.gov.hk/hk/cap76 Cap. 112 (Inland Revenue Ordinance) :: Hong Kong tax statute. Governs profits tax, salaries tax, property tax, and the FIHV, corporate treasury centre, and patent box concessionary regimes. https://www.elegislation.gov.hk/hk/cap112 Cap. 117 (Stamp Duty Ordinance) :: Hong Kong stamp duty on property transfers, share transfers, and certain leases. https://www.elegislation.gov.hk/hk/cap117 Cap. 622 (Companies Ordinance) :: Hong Kong company law. Part 17A, in force since 23 May 2025, governs inward re-domiciliation of foreign-incorporated companies. https://www.elegislation.gov.hk/hk/cap622 Cap. 637 (LPF Ordinance) :: Limited Partnership Fund Ordinance, in force since 31 August 2020. https://www.elegislation.gov.hk/hk/cap637 Companies Registry :: Hong Kong public body responsible for company incorporation, TCSP licensing, and re-domiciliation under Part 17A. https://www.cr.gov.hk/ Corporate Treasury Centre (CTC) :: A Hong Kong entity electing under section 14D of the IRO (Cap. 112) for the corporate treasury centre concessionary profits tax rate of 8.25 percent on qualifying profits, subject to substantial-activity tests. FIHV :: Family-owned Investment Holding Vehicle. Eligible under the Hong Kong family-office tax regime for 0 percent profits tax on qualifying transactions, subject to minimum net-asset-value, annual operating expenditure, and qualified-employees thresholds. 2026-27 Budget asset-management tax-concession proposals should be checked against enacted amendment legislation and IRD guidance before being relied on. https://www.ird.gov.hk/eng/tax/bus_fihv.htm HKMA :: Hong Kong Monetary Authority. Banking supervision under Cap. 155 and oversight of authorised institutions and stored-value facility licensees. https://www.hkma.gov.hk/ IRD :: Inland Revenue Department. Administers Cap. 112, the FIHV concession, the patent box regime, the corporate treasury centre concession, and the re-domiciliation tax-transition provisions. https://www.ird.gov.hk/ LPF :: Limited Partnership Fund under Cap. 637. Suits closed-ended private funds with a general partner, an investment manager, and a fund administration record. MLRO :: Money Laundering Reporting Officer. Designated officer of a Hong Kong authorised institution or TCSP responsible for receiving and acting on suspicious transaction reports under AMLO. OFC :: Open-ended Fund Company. Hong Kong collective investment scheme structure under Part IVA of the Securities and Futures Ordinance (Cap. 571). Patent Box Regime :: Hong Kong concessionary profits tax rate of 5 percent on qualifying intellectual property income, against the standard 16.5 percent rate, under the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024, gazetted on 5 July 2024. OECD nexus approach. Local registration requirement applies from 5 July 2026. https://www.ird.gov.hk/eng/tax/bus_patentbox.htm Part 17A :: Inward re-domiciliation regime added to Cap. 622 and brought into force on 23 May 2025. Allows eligible foreign-incorporated companies to transfer their legal seat to Hong Kong without winding up. PTC :: Private Trust Company. A company established to act as trustee for a specific family's trusts. Hong Kong does not operate a standalone PTC statute comparable to Cayman, BVI, or Jersey; a Hong Kong PTC sits inside the general trust-business framework and the TCSP licensing regime under AMLO. Re-domiciliation :: Transfer of a company's legal seat from one jurisdiction to another without winding up or losing legal identity. Hong Kong inward regime: Part 17A of Cap. 622, in force since 23 May 2025. Reserved Settlor Powers :: Powers retained by the settlor under a Hong Kong trust deed, expressly permitted under section 41X of Cap. 29 as amended in 2013, without invalidating the trust. Boundary with sham-trust risk depends on drafting and facts. Section 14D :: IRO (Cap. 112) provision under which a qualifying corporate treasury centre may elect for the concessionary profits tax rate of 8.25 percent on qualifying profits. Section 41X :: Trustee Ordinance (Cap. 29) provision codifying reserved settlor powers under Hong Kong trust law, introduced by the Trust Law (Amendment) Ordinance 2013. SFC :: Securities and Futures Commission. Regulator for securities, futures, and asset-management activities under Cap. 571. https://www.sfc.hk/ SFO (statute) :: Securities and Futures Ordinance (Cap. 571). Principal statute for Hong Kong's securities and futures markets, fund managers, intermediaries, and corporate finance activities. SFO (single family office) :: Single Family Office. Management entity for a single family's wealth, investment, and governance functions. Under the FIHV regime, an eligible SFO managing a qualifying FIHV maintains a minimum operating presence in Hong Kong. SPV :: Special Purpose Vehicle. A company established for a specific deal, investment, or asset-holding purpose, typically with limited liability and a defined operating scope. Stamp Duty Ordinance :: See Cap. 117. TCSP :: Trust or Company Service Provider. Licence under AMLO (Cap. 615) required to carry on a trust or company service business in Hong Kong, administered through the Companies Registry's TCSP licensing portal. Regime came into operation on 1 March 2018. Licences generally valid for three years. https://www.tcsp.cr.gov.hk/ Trustee Ordinance :: See Cap. 29. Two-tiered Profits Tax :: Hong Kong profits tax regime applying a concessionary lower-tier rate on the first prescribed band of assessable profits and the standard rate above that, under Cap. 112. --- End of glossary.