Hong Kong may see a 43% increase in family offices in 2025 thanks to new government measures to entice wealthy individuals to set up shop in the city, Alpha Lau, director-general of investment promotion at InvestHK, says in an interview with local television station Now TV.
According to Lau, InvestHK, an official investment promotion body, has brought 140 family offices to Hong Kong since setting up a dedicated family office team in 2021.
The number is expected to increase to 200 by the end of next year after the government announces more details about its New Capital Investment Entrant Scheme early in the new year, she says in the interview broadcast on December 23.
Launched in September, the scheme allows international investors to get residential rights in Hong Kong with a minimum HK$30 million (US$3.84 million) investment in permitted assets such as real estate.
According to Lau, many family offices have told InvestHK that they like Hong Kong for its stable investment environment.
“Hong Kong is also a very developed financial centre,” she says, pointing out that it’s convenient for family offices to make global asset allocations from the city, or invest in the Mainland through the Stock and Bond Connect schemes that allow investors on both sides to trade equities and debt in each other’s markets.
Lau says while it’s hard to estimate total investments brought by family offices because many are reluctant to make their regional allocations public, the figure is likely to be “considerable” as a family office has to invest at least HK$240 million (US$30.76 million) in order to get tax benefits.