News

Financial Services

Staff Reporter

, Hong Kong

Published:

3 days ago

Photo by Pixabay from Pexels

Gov’t aims to attract more family offices with new measures

Currently, Hong Kong has more than 2,700 family offices.

The government will introduce a series of measures to attract more family offices to set up operations in Hong Kong, according to Financial Secretary Paul Chan.

“This year, in addition to our existing tax concessions for single-family offices, we will expand exemptions for funds, enhance concessions for family offices and boost incentives for private equity,” Chan said at the Wealth for Good in Hong Kong summit on Wednesday.

Currently, Hong Kong has more than 2,700 family offices, with half managing assets of more than $388.7m (US$50m).

Moreover, according to InvestHK, 160 family offices have launched operations.

($1=US$0.12)

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