Affidavit Of Financial Means Template for Hong Kong

An Affidavit of Financial Means is a sworn legal document that provides complete disclosure of your financial circumstances in Hong Kong family court proceedings. This document serves as the foundation for judicial decisions regarding financial arrangements, ensuring the court has accurate information about your income, assets, debts, and living expenses when making orders for maintenance, property division, or child support.

When do you need this document?

You will need to file an Affidavit of Financial Means in various family law situations in Hong Kong. During divorce proceedings, both parties must provide detailed financial disclosure to enable fair distribution of matrimonial assets under the Matrimonial Proceedings and Property Ordinance (Cap. 192). The document is also required when seeking or defending maintenance applications, whether for spousal support or child maintenance. If you are involved in custody disputes where financial arrangements affect the child's welfare, or when applying for legal aid in family matters, you must complete this affidavit. Additionally, any variation applications to modify existing financial orders require updated financial disclosure through this document.

Key legal considerations

Your Affidavit of Financial Means must include comprehensive details about all income sources, including employment earnings, business profits, rental income, dividends, and any other financial benefits. You must declare all assets such as properties, bank accounts, investments, insurance policies, and valuable personal items, along with their current market values. Complete disclosure of liabilities is equally important, covering mortgages, loans, credit card debts, and other financial obligations. The affidavit should detail your reasonable living expenses and those of any dependents. Remember that this is a sworn document, meaning deliberate omissions or false statements constitute perjury under Hong Kong law and can result in criminal prosecution. The court has broad powers to investigate undisclosed assets and may draw adverse inferences if you fail to provide complete information.

Legal requirements in Hong Kong

Under the High Court Ordinance (Cap. 4) and Rules of the High Court (Cap. 4A), your Affidavit of Financial Means must follow specific formatting and procedural requirements. The document must be properly sworn before a Commissioner for Oaths as required by the Oaths and Declarations Ordinance (Cap. 11), and you must provide supporting documentation including recent bank statements, tax returns, employment contracts, and property valuations. The affidavit must be filed within prescribed time limits set by the court, typically 14 days after directions are given. Hong Kong courts expect annual updates if proceedings extend beyond 12 months, and you have a continuing duty to disclose any material changes in your financial circumstances. The document must be served on all other parties to the proceedings, and failure to comply with disclosure requirements can result in the court making adverse orders against you, including striking out your case or making unfavorable financial orders.