The Right Place
Those seeking to establish family offices are flocking to Hong Kong, drawn by its experienced financial experts and its proximity to the Mainland, says Christopher HUI, the Secretary for Financial Services and the Treasury.
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Hong Kong’s strategic advantage as a financial powerhouse is fueling the rapid growth of family offices in the city. Supported by a proactive government and a conducive business environment, these private wealth management entities are flourishing. The city is attracting affluent families from around the world who are seeking stability, expertise and a gateway to many of Asia’s vibrant markets.
Christopher Hui, the Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region (HKSAR), believes that Hong Kong will be able to leverage its unique strengths to emerge as a global hub for family offices. This will drive economic prosperity and foster a new era of wealth management.
“This is an area where it is definitely less about competition and more about how we can use Hong Kong to serve as an asset and wealth management center, regionally and globally,” Hui says. “The reason that so many people are interested in parking their money here is very obvious. It’s because we have got everything it takes for investments to be placed safely,” Hui adds.
Credibility, stability, and a long-term focus
Family offices are driven by a desire for intergenerational wealth preservation, and the founders are looking for a financial environment that offers credibility, stability and a long-term focus. They prioritize continuity, requiring tailored services, diverse investment opportunities, and trusted professionals to navigate their unique wealth management needs effectively.