Hong Kong Trust Estate Planning

1404_HKTrustThanks to China’s reform and opening-up policy the country’s private sector has been thriving in the past three decades which had more than 3 million private first generation entrepreneurs build a successful family business in the Mainland. These first generation entrepreneurs are now aged between 55 and 75 and will face business succession in the next five to ten years according to a survey conducted by the Chinese Academy of Social Sciences.
When there is a generation change in Asian family businesses and transition of leadership of the family business, poor estate planning can lead to public embarrassment and threaten the entire family business which the cases of Kwok Tak-Seng, Henry Fok, Stanley Ho and Chen Din Hwa have proven when their family disputes were filling the tabloids. However, there are also examples of more successful transitions such as Wang Yongching, Cheng Yu-tung and the current transition of Li Ka-sing’s empire.

Business patriarchs preparing for the transition to the next generation can learn a great deal from the above mentioned examples and take the following three particular aspects in consideration:

  • Ownership structure
  • Family governance
  • Corporate governance

A Hong Kong family trust allows the family business to incorporate these aspects and take an individual approach to a harmonized transition of the generations.

A family trust can allow the patriarch to retain a certain amount of control over the business and gradually involve the next generation in the day to day decision making and setting out succession mechanisms. A family trust can further help to avoid disputes over the appropriate distribution of the income and capital and hold the family business together. Involvement in the family business and distributions to the beneficiaries can be constrained by the fulfillment of certain criteria or it may allow the beneficiaries to pursue other opportunities with certain distribution out of the trust but without ruining the family business.

Zetland is an independent trustee and holds Professional Trustee licenses in Hong Kong, Belize and New Zealand. As an independent trustee Zetland ensures neutrality, avoidance of any conflict of interest, flexibility, privacy and discretion. Please contact Dominik Stuiber ( for further information.


アジアにおいてよく見られる資産相続にまつわるケースが、プランニングが貧弱であったがために世間に一族の恥をさらす結果になってしまったという話です。香港における最大土地開発ディベロッパーとして有名な新鴻基地產發展有限公司の創立者であるKwok Tak-Sheng(郭得胜)や、中国政界にて一番パワフルな香港人ビジネスマンとして知られるHenry Fok(霍官泰)、マカオ経済を牛耳る実業家Stanley Ho(何鴻燊)、そして香港ビジネス業界のタイクーンと称されるChen Din Hwa(陳廷驊)の相続ならぬ「争族」の話はマスコミに散々取り上げられていました。それに比べ、台湾の実業家であるWang YongChin(王永庆)や、香港とマカオの不動産王であるChen Yu-Tung(鄭裕彤)や、アジア一の金持ちであるLi Ka-Sing(李嘉誠)の資産相続は上手く行った例としてあげられるかと思われます。


  • オーナーシップの構造
  • ファミリーガバナンス
  • 企業ガバナンス




担当者Dominik Stuiber ( へ英語にて直接、または日本語は までご相談ください。