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By João Paulo Meneses


Stanley H


Many of Stanley Ho’s real estate assets in Portugal have been handed over to the foundation named after him, created for philanthropic purposes. Revenues come from rented properties and from the sale of wines. Eight of Stanley Ho’s children also benefited.


n 1999, a few months before Macau’s transition of power, Stanley Ho created a small foundation in Lisbon for social and philanthropic goals (“The purpose of the Foundation is to carry out social, cultural, educational and philanthropic actions in Portugal and in the rest of


the world, aimed at the enhancement of man and the promotion of humanist values”). Initially, STDM’s reference shareholder put in about MOP


45 million (€5 million) and had twice as much as another foundation, based in Lisbon, which he also originated, the Orient Foundation. The MOP 89 million entered the Stanley Ho Foundation (FSH) in return for the then-current gaming contract, of which the Orient Foundation was a major beneficiary. From 2001, Stanley Ho decided to step up his stake in FSH


by making some donations of heritage properties that he owned in Portugal (among others, valuable buildings in central Lisbon and farms) and foreseeing that 25 per cent of the proceeds would be given annually to 8 minor heirs (see list).


This possibility, common in many countries, notably the


United States, is very rare in Portugal. So rare that it took the Ministry of Finance many years to decide its tax status,


20 DECEMBER 2019


White and Re and Red I


y Ho,


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