Network of Family Office Service Providers
launched to promote Hong Kong as the
preferred destination for global family offices
On 12 June 2023, Invest Hong Kong announced the launch of the Network of Family Office Service Providers (the Network), a platform specially designed to help promote Hong Kong as a family office hub and preferred choice of destination. Launching the Network is one of the eight initiatives in the Government's Policy Statement on Developing Family Office Businesses in Hong Kong announced on 24 March 2023. The Network, which brings together the relevant professional services providers including private bankers, trustees, lawyers, accountants, wealth management professionals, etc, aims to nurture the ecosystem that continues to support local and global family offices as they set up or expand in the Hong Kong market. It also provides a two-way channel for the Government to communicate with the industry on the latest development and provide opportunities for family offices in Hong Kong, and to mobilise their networks around the world to advocate opportunities in Hong Kong for family offices.
“Hong Kong, with our vibrant financial ecosystem, sophisticated financial infrastructure and the best professional services providers, as well as the convergence of investment opportunities in the Mainland and the world, is naturally the preferred choice of location for global family offices. The Network of Family Office Service Providers brings together the relevant professional services providers, which helps create mutual business opportunities and promote Hong Kong's advantages to target markets. The Network will also provide advice to the Government on how we could better facilitate the sector's growth and thrive together.”
The Financial Secretary, Mr Paul Chan, attended the Network of Family Office Service Providers Launch Ceremony today. Photo shows Mr Chan (first row, sixth left); the Secretary for Financial Services and the Treasury, Mr Christopher Hui (first row, sixth right); the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan (first row, fifth left); the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan (first row, fifth right); the Executive Director of the Office for Attracting Strategic Enterprises, Mr Charles Ng (first row, first left), and other guests giving a toast at the ceremony.
"Invest Hong Kong's FamilyOfficeHK team strives to make a significant and positive impact on Hong Kong's family office industry. The Network underscores our commitment to engage and inspire global family offices to consider setting up and operating in Hong Kong. We look forward to working with the Network's partners to further develop Hong Kong into a vibrant and conducive hub for global family offices."
Invest Hong Kong announced the launch of the Network of Family Office Service Providers and held a panel discussion after the launch ceremony. The Deputy Commissioner (Technical) of the Inland Revenue Department, Mr Benjamin Chan (second left); Senior Director of Licensing of the Intermediaries of Securities and Futures Commission Mr Wilson Lo (centre); Co-Head of Sales and Marketing of the Hong Kong Exchanges and Clearing Limited Ms Christina Bao (second right); and the Executive Director (External) of the Hong Kong Monetary Authority, Mr Kenneth Hui (first right), share their views on a wide range of topics regarding family office business in Hong Kong, including tax concessions, the Government's support for tech-listings and the future of green finance, at the "Building Successful Wealth and Governance in Hong Kong" panel discussion, which is moderated by the Global Head, Family Office of Invest Hong Kong's FamilyOfficeHK, Mr Jason Fong (first left).
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