Four in five entrepreneurs hold multi-residency status

63% of Hong Kong entrepreneurs are concerned that large inheritances may weaken next-generation values.

Four in five entrepreneurs in Hong Kong now hold multi-residency status, one of the highest proportions worldwide, according to a report from HSBC.

The report showed that 93% of Hong Kong entrepreneurs are optimistic about their business prospects, whilst 84% are confident in their personal wealth—both figures exceeding global averages.

The study also highlighted Hong Kong’s strong global footprint. Eight in ten entrepreneurs in the city hold multi-residency status, compared to a global average of 56%.

Over half (54%) maintain dual residency in mainland China or Singapore, whilst others have ties to Taiwan, Japan, the UK, and France.

The city remained a strategic choice for wealth diversification. More than one in five entrepreneurs from mainland China (22%) and Taiwan (26%) identify Hong Kong as their top destination. Notably, 78% of Chinese entrepreneurs plan to expand into Hong Kong.

Expansion plans are also strong locally, with 42% of Hong Kong entrepreneurs looking to enter new markets within the next year. Technology and artificial intelligence are seen as key growth drivers, with 62% of global entrepreneurs naming tech/AI as their biggest source of optimism.

Spending trends reveal distinct preferences. High-end fashion and jewellery (49%), personal-use real estate (48%), and cars (47%) top the list.

Hong Kong entrepreneurs also lead in spending on art and collectibles, with 33% investing in this category—well above the global average of 24%.

However, succession planning emerges as a pain point. The survey found that 63% of Hong Kong entrepreneurs are concerned that large inheritances may weaken next-generation values and work ethic.

The same proportion say it’s difficult to define roles for younger family members, whilst 58% fear disputes over inheritance. More than half (52%) find talking about money with their children challenging, compared to 40% globally.