Hong Kong revamps family office rules to widen global appeal, targets 220 more by 2028
Last month, the government achieved its previous target of facilitating 200 family offices to establish a presence in the city
Hong Kong is widening its appeal to global family offices, as it shapes new policies designed to meet emerging trends in the sector, according to Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.
The city’s “robust legal system, world-class financial infrastructure, strategic proximity to the mainland and competitive and simple tax regime” made it an “ideal destination for family offices, including those from Africa, seeking to establish or expand their operations”, the treasury chief said at the Raffles Family Office annual forum on Wednesday.
The forum featured Yusuf Murangwa, Minister of Finance and Economic Planning of the Republic of Rwanda, as a speaker.
Hui also announced that the “Wealth for Good in Hong Kong Summit” would return next year. The third edition of the summit was held in March.
“The government is steadfast in our commitment to positioning our city as the premier hub for family offices in Asia and beyond,” he said.
Hong Kong aimed to assist at least 220 family offices in setting up operations or expanding businesses in the city from 2026 to 2028, according to Hui. Last month, the government achieved its previous target of facilitating 200 family offices to establish a presence in the city, which now has 2,700 single-family offices, he added.