Hong Kong’s family office count to exceed 3,000

Hong Kong’s family office count is expected to exceed 3,000 as geopolitical tensions drive investors to the city, according to Financial Services Secretary Christopher Hui. The city currently has over 2,700 family offices, with over 30% managing assets above USD100m. Authorities aim to assist 200 family offices in setting up or expanding by year-end. Plans are underway to extend tax exemptions to cover private lending, virtual assets, and carbon credits. Despite ongoing scrutiny over CK Hutchison’s Panama port deal, Hui said investor sentiment remains strong. Hong Kong is projected to become the largest cross-border wealth management hub by 2028, with 160 family offices planning to establish operations, a quarter from Europe and the US.