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Opinion

Death and taxes, but not in Hong Kong

A prominent Hong Kong investment banker related a tale of events surrounding the recent death of an unnamed local property magnate. On learning of their father's imminent demise, his two sons rushed to the patriarch's bedside. Seeing him losing his grip on life, the siblings eyed each other, consulted and rushed their father from his hospital bed. They boarded a helicopter for Macau where the old man passed away peacefully.

Was this perhaps to fulfil the old man's last request, a final gesture of undying love from two doting sons? It seems not. Apparently, by shifting the old buzzard from Hong Kong and allowing him to expire in Macau, his sons managed to avoid Hong Kong death duties on his estate. 

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