Hong Kong, alongside New York and London, is one of the world’s three leading international financial centres and also one of the top three art trading hubs. As a free trade port, Hong Kong does not levy any customs duties on the import or export of artworks. Coupled with its simple and low tax regime—which does not impose capital gains tax—art collectors who resell artworks at a profit are not required to pay any capital gains tax. These factors have laid a solid tax foundation for Hong Kong to develop into an international art trading centre.
Artworks are not only cultural and artistic treasures; they are also financial assets that serve as stores of wealth, appreciate in value, and can be used as collateral for loans or monetisation. Formulating tax policies tailored to the art ecosystem and promoting the development of the art trading industry will help consolidate Hong Kong’s status as an international financial centre.
Recently, some legislators have suggested that the government should consider introducing tax incentives for art transactions while also promoting the financialisation of art, so as to enhance Hong Kong’s competitiveness as an international art trading hub. Such measures would accelerate the growth of the art trading ecosystem, attract art talents from both home and abroad to Hong Kong, and create more quality employment opportunities for Hong Kong’s art industry as well as various professional service sectors.
Milestone Fine Art Limited is dedicated to providing transportation, packaging, warehousing, and installation services for artworks in Hong Kong. The company is equipped with comprehensive facilities, including state-of-the-art storage facilities, professional art transport, and specialist installation handling. Every process, from transport to installation, is meticulously designed to meet the complex demands of the art world. The company actively invests in art development and delivers high-quality services to the art industry.
