Wealthy European clients eye Hong Kong for family offices, says BNP Paribas
France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets
BNP Paribas, France’s largest lender and the second-largest in Europe, has found that an increasing number of wealthy European clients are seeking to establish family offices in Hong Kong to capitalise on growing opportunities in the region, according to a banker from the lender.
“The two-way capital flow between Europe and mainland China is expected to continue in the coming years, while Hong Kong is playing an important role as a connector in the process,” Lee said in an interview with the South China Morning Post.
“For these European investors who want to invest in technology start-ups or other businesses in Asia and mainland China, Hong Kong is the best location for them to set up family offices to do due diligence or negotiate deals,” Lee added.
A family office is a corporation set up by wealthy individuals to conduct investment activities, manage succession planning or oversee non-financial assets like art collections or philanthropic foundations. To capture this market, the Hong Kong government has introduced tax incentives and other measures since 2023.
This momentum was also reflected in a recent Deloitte study, which found that the number of single-family offices in the city had risen 25 per cent over the past two years, reaching about 3,384 by the end of 2025.