Banks within Taiwan’s Kaohsiung financial zone, a centrepiece of the government’s ambitious plan to turn the island into an Asian asset management hub, are now providing advisory services to 189 family offices with around NT$91.5 billion (US$2.8 billion) of assets.
Apart from family offices, banks in Kaohsiung are offering wealth management services to 427 clients with an investment balance of NT$5 billion, while asset managers have launched 16 offshore funds with NT$3.9 billion of assets.
The Financial Supervisory Commission (FSC) disclosed the figures in a statement on July 24 marking the first-year anniversary of the zone.
“Kaohsiung has established a comprehensive financial service system, which demonstrates the high level of support and confidence from the financial industry in promoting the policy of establishing an Asian asset management centre,” the FSC says.
The regulator adds that it is “actively exploring specialised legislation to create a more robust legal framework, fostering sustainable growth within the asset management industry”.
A total of 57 financial institutions including banks, investment firms and insurers have established a presence in Kaohsiung.
The city was designated as a special zone for asset management, family offices and cross-border financial services in 2024 as part of President Lai Ching-te’s plan to develop Taiwan as an Asian asset management centre.
Kaohsiung is located around 352 kilometres to the south of Taipei, Taiwan’s capital.
