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AEOI: Guidance for account holders of Hong Kong Financial Institutions.

What you need to know about the Automatic Exchange of Information (AEOI) if you are an account holder or beneficial owner of a Hong Kong Financial Institution.

About the author

Allan Wilkinson

+852 3752 8871

What is it? Does it affect you?

The Hong Kong Inland Revenue Department (IRD) has legislation in place to facilitate exchanges of information relating to the account holders and beneficial owners of Hong Kong Financial Institutions with other tax authorities worldwide. The primary intention of this legislation is to crack down on tax evasion by non-compliant individuals and entities. If you hold any kind of account with a Hong Kong Financial Institution or if you are a beneficial owner of an entity (such as a company or trust) that is classified as a Financial Institution, then the legislation will affect you.

Did you know?

“Automatic Exchange of Information” is the collective term for the two regimes currently in place in Hong Kong to facilitate the exchange of financial information with other jurisdictions. They are as follows:

FATCA (Foreign Account Tax Compliance Act) - which facilitates information exchange between the US and participating jurisdictions, including Hong Kong.

CRS (Common Reporting Standard) -  which facilitates information exchange between a large and growing number of jurisdictions throughout the world (excluding the US).

These regimes place the burden of compliance on Financial Institutions, which are required to carry out due diligence procedures on all of their account holders and report them to the tax authorities.

What do you need to do?


As part of this process, many account holders (both individuals and entities) will be receiving “self-certification” forms from the Financial Institutions they have accounts with. The information that is included in these forms will allow the Financial Institutions to determine the tax residence and classification of the account holder under the two regimes. 

In many cases these forms are detailed, complicated and confusing, but the account holder is responsible for completing their own forms. The Financial Institutions cannot provide legal or tax advice. Therefore, if the account holder has questions about how to complete the forms, they will need to contact a tax adviser.

How we can help?

Buzzacott’s Expatriate Tax Services team can help account holders prepare their self-certification forms and determine their status under the two tax information exchange regimes. If you need our help, please contact:

Allan Wilkinson


E | wilkinsona@buzzacott.hk

T | +852 3752 8871


Or alternatively, please speak to your usual Buzzacott contact.

You might also be interested in… Expatriate tax. | 英美海外居民個人所得稅業務

We know how both systems work from the inside, out. Talk to us about how best to manage your income, reduce liability and pay the correct local tax. We’ve had the pleasure of supporting many internationally mobile workers through pivotal stages in their lives from our London office. Buzzacott’s Hong Kong team looks after US and UK nationals living across Southeast Asia.

  • UK tax advice
  • US tax returns for UK-residing American citizens
  • UK tax returns for non-UK residents with UK source income
  • UK tax advice about UK statutory residency rules
  • Pre-departure/arrival planning, including assignment structuring
  • Inheritance tax advice

Help with US tax services

  • Residence and domicile issues
  • US & UK Tax return compliance
  • Cross-border trust and estate tax 
  • Dual US/UK qualified charities 
  • FATCA/CRS advice 
  • International Pension & Tax Reporting & Advice 
  • Mixed Fund Analysis 
  • US/UK Divorce Tax Advice 
  • US/UK Share Schemes Tax Advice 
  • Expatriation
  • US residents in Hong Kong 

Global Mobility

We work hand-in-hand with our Global Mobility team who can advise you on managing an international workforce. And you’re welcome to share your queries with Buzzacott’s other specialists, from HR to financial planning. Thanks to our membership of the PrimeGlobal international association, we can also connect you with trusted experts worldwide who deliver the same quality of service you expect from us.


我們清楚了解英、美兩地的稅制。這當中包括如何妥善管理個人收入,減少稅務和繳交正確的稅額。我們倫敦辦事處擁有豐富的經驗,為海外工作者 在人生不同的階段,提供適合他們的支援。 Buzzacott的香港團隊 (link to HK SITE) 負責維顧生活在東南亞的美國和英國國民。
















我們與全球流動團隊 攜手合作,為您提供管理國際勞動力的諮詢。不論人力資源  或財務策劃  的問題,都歡迎您與Buzzacott的專家聯絡。而作為  國際協會的會員,我們還可以為您提供全球值得信賴的專家,提供與您期望一致的服務質素。