FUNDOS (1 de janeiro 2026)

 mar26 Gathering pace By  José Carlos Matias Macau Business magazine l  March 2026 Upgraded legislation, new fund vehicles and cross-border flows are reshaping Macau’s financial services industry, as local players emphasise differentiation. Henry Chow, chief executive of HSBC Macau, and Bernardo Alves, chairman of A&P Investment Fund Management Company, outline their vision for getting it right. Photos by Cheong Kam Ka Macau’s financial services industry has witnessed notable developments in recent years. As one of the four pillars earmarked for economic diversification under the 1+4 strategy, “modern finance” has undergone a broad range of legislative and regulatory upgrades, including the new Financial Services Act adopted in 2023 and, more recently, the revised Investment Funds Law, which came into effect on 1 January this year. These developments have generated interest from new players overseas and prompted Macau-based stakeholders to raise their game a...

jan26 AMCM Não usado To provide a legal foundation for financial institutions to carry out wealth management business involving trust arrangement, the Macau SAR Government enacted Law No. 15/2022 (the Trust Law), which came into force on December 1, 2022. This Law sets out the general system and fundamental principles of the trust arrangement in Macao, and outlines the rules for the concept of trust, its constitution, trust property, the requirements and obligations of trustees, and the protection of beneficiaries. The enactment of the Law represents a significant breakthrough for Macao's legal system. The Law provides a legal foundation for the long-term development of wealth management business, and will help faciliate Macao financial institutions to develop competitive financial services and wealth management products. Besides, it can attract more overseas clients, particularly high-net-worth ones, to choose managing their assets in Macao, thereby fostering the development of Ma...

dez25 As Macao steps into 2026, the city is rolling out two landmark legal reforms that promise to reshape its financial landscape. Designed to align the city with international standards and attract global capital, the reforms mark one of the most significant overhauls of Macao’s financial regulation in decades Words by Tony Lai Photography by As Macao ushers in 2026, the city is not only turning a page on the calendar but also turning a corner in terms of its development. Two landmark legal reforms, the new Investment Funds Law and a revised Fiscal Code, come into effect in January, reflecting the city’s determination to align with international financial standards and attract capital from both domestic and international markets. The goal is clear: to position Macao not just as a tourism and entertainment hub, but as a credible player in the global finance and business landscape. The Investment Funds Law (Law No. 11/2025), which replaces the Decree-Law No. 83/99/M enacted in 1999, si...

 dez25 Bruno Almeida and Daniel de Senna Fernandes of Riquito Advogados begin a series of insights based on the ‘watershed moment’ of Law 11/2025 coming into effect, highlighting private funds’ operational flexibility and regulatory framework As Macau modernises its financial sector, foundational finance-related legal frameworks have undergone significant yet understated reforms. While the changes appear minor at first glance, they hold transformative potential. A prime example is the unequivocal introduction of private funds. Background For nearly 25 years, Macau’s fund regulatory framework (rooted in Decree-Law 83/99/M) recognised only public investment funds. The incoming Law 11/2025 (the Investment Funds Law), effective January 1 2026, fundamentally transforms this landscape by introducing the first comprehensive private fund regime in Macau’s regulatory history. This development positions Macau as an emerging destination for institutional-grade wealth management and alternativ...