Hong Kong has implemented specific measures to attract family offices, offering exclusive incentives for UHNWI seeking favourable tax regimes and robust business environments
The new scheme aims to attract asset owners to settle in the territory and explore its diverse investment opportunities through wealth allocation and management
Hong Kong has long been recognized as a global destination for establishing family offices as it offers a wide range of benefits for HNWI and families
“In the Chief Executive’s 2023 Policy Address, the Hong Kong Government intends to facilitate no less than 200 family offices to set up operations or expand their business in Hong Kong from 2022 to 2025.” – The Chief Executive’s 2023 Policy Address (25 October 2023)
As a well‐recognised international financial centre, Hong Kong is set to become the largest hub for family offices by 2025
Hong Kong has been experiencing a boom of family offices, further incentivised by tax breaks or residency options. It is indeed a very efficient Wealth Planning tool for HNWI.
Transitioning ownership and control to the next generation is only one of the hurdles for many family business owners in succession planning