What is a Certificate of Resident Status and why is it necessary to obtain one?
The matter of where to tax cross-border investments is essential and is resolved by tax treaties between countries to avoid double taxation. An individual or a company will be taxed where it is considered as a resident for the purposes of the treaty but, in Hong Kong, it is mandatory to obtain a Certificate of Resident Status (or CoR) to be considered as a resident in regard to a tax treaty.
Generally, only one CoR will be issued for each tax treaty for each year. The competent Hong Kong authority shall decide whether a CoR may be issued on the basis of the information requested from the person at the time of application.
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