Expanded tax exemption eyed as Hong Kong’s family offices surge 25% in 2 years

The sector contributed $12.6b annually.

Hong Kong had 3,384 single-family offices as of the end of 2025, an increase of more than 25% to 681 offices since late 2023, according to a Deloitte study.

The sector contributed $12.6b annually to the economy through operating expenditure and employs around 10,000 professionals.

Christopher Hui, Secretary for Financial Services and the Treasury, said in a press release that the government will propose legislation in the first half of 2026 to expand tax exemptions for funds and family offices to include precious metals, loans, private credit, and digital assets.

Assets under management in the region reached $35.1t at the end of 2024, ranking second globally by ultra-high-net-worth population.

Survey data showed that 60% of offices plan to increase Hong Kong investment over the next three years, 25% plan to increase United States exposure, whilst 19% expect to reduce United States exposure.

More than 40% of respondents hold over 20% portfolio exposure to both Hong Kong and the Chinese Mainland. Portfolio data indicated that 16% of offices allocate more than half of assets to Hong Kong, whilst 9% allocate more than half to the Chinese Mainland.

One-third of family offices have children of family members or executives enrolled in Hong Kong schools. Survey results showed that 83% of offices with philanthropic programmes support education initiatives.

The government aims to attract an additional 220 family offices between 2026 and 2028, the study said.