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Hong Kong targets Middle East, Indonesia to boost family office hub status

Hong Kong is targeting the Middle East and Indonesia to attract family offices, aiming to enhance its status as a global hub for such investments, stated Jason Fong from InvestHK. While China remains the primary market, the city is looking to broaden its international appeal. Fong highlighted Indonesia’s untapped potential, noting their unfamiliarity with Hong Kong’s expertise in the family office sector despite regular interactions. Efforts by Hong Kong’s officials, including high-level visits to the Middle East, are starting to attract more wealthy individuals interested in establishing family offices in the city. Hong Kong offers a favourable tax regime with recent incentives, contrasting with Singapore’s stricter requirements for family office tax benefits. Plans are also underway to establish an art storage facility at Hong Kong International Airport to boost art transactions.


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