Hong Kong Family Office Tax Push Gains Traction as Dubai Appeal Weakens

Hong Kong family office tax push is gaining momentum as the Iran war dents Dubai’s appeal as a safe haven, prompting renewed interest from wealthy investors.

Lawyers and consultants said enquiries have surged, with near-daily discussions with families considering setting up in the city.

The government proposed expanding concessions to cover assets including gold, cryptocurrencies, private credit and overseas real estate, with legislation expected by June.

Despite the momentum, experts said the Hong Kong family office tax push may narrow but not fully close the gap with Singapore, which grew its family office base to more than 2,000 between 2020 and 2024.