Hong Kong Family Office Growth Accelerates with Policy Reforms

The Hong Kong SAR government is intensifying efforts to expand its family office (FO) sector as part of a broader asset and wealth management (WAM) strategy, Financial Services Secretary Christopher Hui told lawmakers. In the first five months of 2025, 50 FOs either established or expanded in the city—a 19% year-on-year increase—with 150 more planning to follow. As of end-2023, Hong Kong had approximately 2,700 single FOs, a figure expected to surpass 3,000 shortly. The government has implemented key policy enhancements to attract FOs, including eligibility reforms under the capital investment entrant scheme and the expansion of training programmes. FO-related private wealth business reached HKD1.55tr (USD199bn) in 2024, highlighting Hong Kong’s rising prominence as a regional wealth hub.