An IMGW News Report
Hong Kong has declared its intentions in no uncertain terms: it wants to become the world’s go-to hub for family offices. The target is bold—200 new large-scale outfits by the end of 2025, building on the 2,700 already on the ground as of late 2023.
To achieve this, the government is rolling out incentives with characteristic zeal. Capital investment visa rules are being eased, tax breaks dangled, and high-level networking events—such as the recent Wealth for Good Summit—deployed to woo global wealth. Few public agencies match the tireless pitch of InvestHK, the state arm tasked with attracting capital. “It’s crazy,” says Joe Qiao of Taiwan-based Globaltec Capital. “They’re everywhere—from Shanghai to Beijing.”
“China remains the ultimate prize—albeit a treacherous one. A locally based industry expert observes that while global families eye the market eagerly, the ability to exit smoothly is as critical as entry. Should Hong Kong manage to guarantee both, it could outpace rivals like Singapore and Dubai”
Yet scrutiny lingers. The furore surrounding a questionable family office launch last year raised eyebrows over vetting standards, just as Hong Kong is striving to market itself as more than a conduit for mainland capital—an international base for the ultra-wealthy.
Geopolitical tensions are complicating matters. The latest round of US tariffs under President Trump’s return to the White House has rippled through boardrooms. Mahesh Harilela, of the eponymous hotel group, says families are adopting a cautious stance amid the rhetoric. Still, Hong Kong’s resilience continues to inspire guarded optimism.
For some, China remains the ultimate prize—albeit a treacherous one. A locally based industry expert observes that while global families eye the market eagerly, the ability to exit smoothly is as critical as entry. Should Hong Kong manage to guarantee both, it could outpace rivals like Singapore and Dubai.
The city also trades on softer power. Four-tier Chinese language education in its international schools and a collaborative family office ecosystem offer advantages that others struggle to replicate. “It’s not just about tax perks,” says Helen Zhu of NF Trinity. “Hong Kong holds a unique position in the global investment landscape.”
The territory’s bid to secure the future of global family wealth may be audacious—but in today’s multipolar world, ambition is a currency with enduring value.
