Fund management activities

Fund management is a Qualifying Activity under the QFZP regime. Forensic scrutiny focuses on the segregation of proprietary investment income (potentially Excluded) from third-party management fees (Qualifying). Auditors will verify that the 'Core Income Generating Activities'—specifically discretionary decision-making and risk management—are not outsourced to a mainland branch or offshore entity.

Audit Red Flag

Mischaracterization of 'carried interest' or 'performance fees' as exempt capital gains rather than taxable service income under the management mandate.

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