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How to set up a trust in Hong Kong
Here is how to set up a trust in Hong Kong, in six stages: a first conversation, identity and source-of-wealth checks, structure design, drafting by a law firm, signing, and transfer of the assets. This page walks through each stage and the papers involved, so start by gathering the documents listed below.
Reviewed by a senior trust administrator, updated
Six stages, who does what
Select a stage to read what slows or speeds it.
- First conversation or quote requestYou
- Identity and source-of-wealth checksOne Pacific Trust
- Structure designOne Pacific Trust
- DraftingLaw firm, bank, adviser or trustee
- Signing and acceptanceYou
- Account opening and transferLaw firm, bank, adviser or trustee
YouOne Pacific TrustLaw firm, bank, adviser or trustee
Key facts
- Governing law
- Common law and the Trustee Ordinance (Cap. 29)[3]
- Reporting to authorities
- Reporting financial institutions existing before 2027 and not yet registered must register by 31 March 2027[2]
- Stamp duty on transfers
- Stamp duty can arise when Hong Kong shares or Hong Kong property move into a trust[4]
Numbers in brackets point to the Sources list at the end of this page.
How the process runs
First conversation or quote request
You describe the family, the assets and the aim, and we reply with the questions that matter for your case.
Identity and source-of-wealth checks
We collect your documents and check them against independent sources.
Structure design
We, the law firm and your own tax adviser agree the shape of the trust and the list of assets.
Drafting
The law firm drafts the deed and helps with your letter of wishes, and you review both with your lawyer.
Signing and acceptance
You sign the deed, and the trustee formally accepts office by resolution.
Account opening and transfer
The bank opens the trust account, and each asset is moved into the trustee's name.
Before you start: what you decide
Setting up a trust in Hong Kong starts with decisions only you can make. Settle these before the first call, even roughly:
- Purpose. Keeping a family company together, preparing for a listing, providing for children, holding a family office vehicle, or a mix.
- Assets. Cash, listed securities, shares in private companies, property or insurance policies, and where each one sits.
- Beneficiaries. A named list, a class such as “my descendants”, or both.
- Control. Whether you want to keep investment powers, appoint a protector, or set up a private trust company to act as trustee.
None of these choices is final at this stage. They give the trustee and the lawyer enough to propose a structure, and they show early which assets need advice in another country.
The overview of trusts in Hong Kong explains the main structure options.
Step by step: what slows or speeds each stage
The process runs in the same order for almost every family. What changes is the time each step takes, which depends on documents and third parties rather than on the trustee alone.
Identity and source-of-wealth checks usually set the pace, so start gathering papers early.
At drafting, you review the deed and letter of wishes with your lawyer, and we comment on how the trustee will run the powers the deed describes.
At account opening, the bank runs its own checks before each asset moves into the trustee’s name.
The law firm confirms the signing formalities for your deed, including whether anything needs notarising.
Stamp duty on Hong Kong shares or property is checked at structure design (source: Stamp Duty Ordinance, Cap. 117); see the FAQ below.
The cost guide lists who charges for which step.
Documents the trustee asks for
You supply three kinds of paper: identity documents, evidence of where the money and wealth came from, and the information that goes into the deed.
| Document | From whom | Purpose |
|---|---|---|
| Passport and proof of address | Settlor, protector, anyone with control | Identity checks |
| Occupation and career history | Settlor | Context for the wealth origin |
| Evidence of source of funds and where the wealth came from | Settlor | Shows where the assets came from |
| Beneficiary details | Each named beneficiary | Identification |
| Incorporation papers, share register, ownership chart | Any company going into the trust | Confirms ownership and control |
The list is our onboarding checklist.
Documents in a language other than English or Chinese usually need a certified translation. If a document is old or hard to obtain, tell us early; there is often another way to show the same fact.
Identity and source-of-wealth checks
These checks come first because everything else waits on them. We identify the settlor, the protector and anyone else who controls the trust, and verify who they are.
The trustee also needs to understand where the wealth came from.
If we do not meet you in person, we take at least one extra step to confirm who you are.
Examples are a further set of identity documents, supplementary checks on the information given, or a first payment from an account in your own name.
The trustee decides which steps fit your case and keeps a record of them.
For beneficiaries named only by class, the trustee gathers enough information to identify them when a distribution is made.
If you or someone connected with the trust holds or has held a senior public role, we run enhanced checks and a senior manager approves the relationship before it starts.
The bank that opens the trust account runs its own checks too, so expect some questions twice.
After the trust is set up
Once the assets are in, the trust moves into routine administration. The trustee holds trustee meetings when decisions are needed, keeps minutes and accounts, and refreshes identity checks on a schedule set by risk.
When reporting starts depends on how the trust is classified, which your adviser confirms at set-up.
The trustee collects tax residence self-certifications from the settlor, the protector, the beneficiaries and other controlling persons.
The Inland Revenue Department treats them as the people to identify for a trust (source: Inland Revenue Department, AEOI frequently asked questions, Q37).
The tax and reporting page covers what the trustee files and when.
You can update your letter of wishes at any time, and the deed sets out how beneficiaries are added or removed.
The legal features of Hong Kong trusts explain which powers the law allows you to keep, and the frequently asked questions cover the rest.
When you have a rough picture of the purpose and the assets, ask us for a quote and we come back with the next questions.
Frequently asked questions
How long does it take to set up a trust?
It depends on how complete your documents are and on third parties: the law firm, the bank and any share registry. The checks on who you are and where the wealth came from take longest when papers are old or held abroad. Once your papers are in, you get a plan with each step.
Is setting up a family trust different from other trusts?
The steps are the same. The design differs: you name a class of family beneficiaries, write a letter of wishes for them, and decide whether a protector or family council has a say. A family company transfer is planned early.
Does a declaration of trust attract stamp duty in Hong Kong?
It can. Stamp duty under Cap. 117 can arise when Hong Kong shares or property move into the trust. Whether a particular declaration attracts duty turns on its terms and the assets, so the law firm checks this at the structure design stage, before drafting.
Sources
- Inland Revenue Department: AEOI frequently asked questions, read 2026-11-05.
- Inland Revenue Department: Inland Revenue (Amendment) (Automatic Exchange of Information) Ordinance 2026, read 2026-11-05.
- Trustee Ordinance (Cap. 29), Hong Kong e-Legislation, read 2026-11-05.
- Stamp Duty Ordinance (Cap. 117), Hong Kong e-Legislation, read 2026-11-05.