Company: CHOW
Filing Date: 2025-08-22
Form Type: F-1/A
Source: 0001641172-25-025146
Chunk: 151

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-08-22
Form: F-1/A
Chunk 151
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 or the District 
 of Columbia;                                                                                    |

| ● | an                                                                                            
 estate the income of which is includible in gross income for U.S. federal income tax purposes 
 regardless of its source; or                                                                  |

| ● | a                                                                                           
 trust (A) the administration of which is subject to the primary supervision of a U.S. court 
 and which has one or more U.S. persons who have the authority to control all substantial    
 decisions of the trust or (B) that has otherwise validly elected to be treated as a U.S.    
 person under the Code.                                                                      |

If a partnership (or other entity treated as a partnership for U.S. federal income tax purposes) is a beneficial owner of the Ordinary Shares, the tax treatment of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership. Partnerships holding the Ordinary Shares and their partners are urged to consult their tax advisors regarding an investment in the Ordinary Shares.

For U.S. federal income tax purposes, a U.S. Holder of Ordinary Shares will generally be treated as the beneficial owner of the underlying shares represented by the Ordinary Shares. The remainder of this discussion assumes that a U.S. Holder of the Ordinary Shares will be treated in this manner. Accordingly, deposits or withdrawals of Ordinary Shares will generally not be subject to U.S. federal income tax.

Passive Foreign Investment Company Considerations

A non-U.S. corporation, such as our company, will be a PFIC, for U.S. federal income tax purposes for any taxable year, if either (i) 75% or more of its gross income for such year consists of certain types of “passive” income or (ii) 50% or more of the value of its assets (generally determined on the basis of a quarterly average) during such year is attributable to assets that produce, or are held for the production of passive income. For this purpose, cash and assets readily convertible into cash are generally categorized as a passive asset and the company’s goodwill and other unbooked intangibles are taken into account. Passive income generally includes, among other things, dividends, interest, rents, royalties, and gains from the disposition of passive assets. We will be treated as owning a proportionate share of the assets and earning a proportionate share of the income of any other corporation in which we own, directly or indirectly, 25% or more (by value) of the stock.

Based upon our current and projected income and assets, including the expected