HK pushes tax perks, events to attract family offices

Hong Kong is intensifying efforts to attract family offices, targeting 200 new large entrants by end-2025, adding to the 2,700 already established as of late 2023. The government is offering tax perks, eased visa rules, and hosted its third Wealth for Good Summit in March to showcase its appeal. Family offices are drawn to Hong Kong’s access to China, international education, and collaborative local ecosystem, though concerns persist over industry vetting and exit strategies. Roughly 150 offices are reportedly planning or expanding in the city. While global trade tensions and slower capital markets pose challenges, officials say Hong Kong’s unique China access and growing ecosystem give it an edge over rivals like Singapore and Dubai in becoming a global wealth hub.