Search Results for: business

Carrying more than HK$120,000 (currency or CNBIs) in or out of Hong Kong must now be declared to customs

From 16 July 2018, travellers to and from Hong Kong are now required to declare cash sums larger than HK$120,000. The Hong Kong Security Bureau announced the Cross-boundary Movement of Physical Currency and Bear Negotiable Instruments Ordinance in 2017 to tackle funds arriving in Hong Kong from illegal sources such as money laundering and terrorist financing.

Under the ordinance, a traveller in possession of a large quantity of currency or bearer negotiable instruments (CBNIs) valued at more than HKD$120,000 arriving to […]

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China outbound investment: a procedural overview

In 2017, the Chinese government issued several regulative measures to safeguard the rapid growth of China outbound investment. Specifically, the Administrative Measures for Outbound Investment (referred to as Measures), issued by the National Development and Reform Commission, forwards provisions for outbound investment entities, supervision methods and improving outbound investment supervision systems.

As a result, China-based companies looking to go abroad should thoroughly understand the new reforms to ensure proper preparation. This article is a comprehensive guide to outbound investment approval procedures; […]

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Antitrust and Competition Law: Germany and Austria draft guidelines on the amended Competition Law

In the current evolving world, the transaction value of a merger or acquisition is no longer limited to the turnover value of the target company. Instead, as seen in Facebook’s acquisition of WhatsApp for 19 billion USD, high transactional value does not always correlate with turnover, instead, it can relate to a strong market and substantial innovation potential.

Through early acquirement of an emerging competitor, market-leading companies may fully integrate the emerging competitor into their business portfolio, thus dismantling competition. For […]

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