Trustee Declaration Form Template for Hong Kong

A Trustee Declaration Form is a legally required document that formalizes your acceptance as a trustee under Hong Kong law. This declaration establishes your understanding of fiduciary duties, regulatory compliance obligations, and commitment to proper trust administration. The form serves as essential documentation for regulatory authorities and provides legal protection for settlors, beneficiaries, and the trustee themselves.

When do you need this document?

You need a Trustee Declaration Form when accepting appointment as a new trustee to an existing trust, replacing a retiring trustee, or when establishing a new trust structure in Hong Kong. This declaration is mandatory for both individual and corporate trustees managing family trusts, discretionary trusts, or commercial trust arrangements. The form is also required when trustees need to reaffirm their positions following significant changes to trust terms or when regulatory authorities request updated declarations during compliance reviews.

Key legal considerations

Your declaration must include comprehensive acknowledgment of fiduciary duties, including the duty of care, loyalty, and impartiality toward beneficiaries. You must declare your understanding of investment responsibilities, record-keeping obligations, and the requirement to act in beneficiaries' best interests. The form should address your compliance with customer due diligence requirements under Anti-Money Laundering regulations, including ongoing monitoring of trust activities and reporting suspicious transactions. Additionally, you must acknowledge restrictions on self-dealing, conflicts of interest, and the requirement to maintain confidentiality regarding trust affairs.

Legal requirements in Hong Kong

Under the Trustee Ordinance (Cap. 29), your declaration must demonstrate competency to perform trustee duties and understanding of statutory powers and limitations. The Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) requires specific acknowledgments regarding customer identification, beneficial ownership disclosure, and ongoing compliance monitoring. If you're a corporate trustee, compliance with the Companies Ordinance (Cap. 622) is mandatory, including proper authorization from directors and maintenance of corporate records. The Personal Data (Privacy) Ordinance (Cap. 486) governs how you handle beneficiary information, requiring specific privacy protection measures. Your declaration must be properly witnessed, signed, and retained as part of the trust's permanent records for regulatory inspection.