Policy Statement Outlines Measures to Boost Family Office Arena
Hong Kong’s new policy measures offer incentives and benefits for global family offices
Hong Kong unveiled a new policy statement aimed at developing a vibrant ecosystem for global family offices and asset owners. The statement covered eight policy measures including tax concessions, a new Capital Investment Entrant Scheme (CIES), talent development initiatives and wealth management network capabilities to provide a holistic growth environment for global family offices.
The CIES will allow eligible applicants with investments such as equities and debt listed in Hong Kong to live and operate in Hong Kong. Other measures include providing profits tax exemptions to Family-owned Investment Holding Vehicles managed by single family offices.
As part of new market facilitation measures, the Securities and Futures Commission has issued quick reference guides to address frequently raised questions about licensing requirements and set up a dedicated communication channel to support family office clients.
A new Hong Kong Academy for Wealth Legacy will offer talent development services to industry practitioners and next-generation wealth owners.
The Hong Kong Airport Authority is also exploring art storage facilities at the Hong Kong International Airport, and the government will deepen Hong Kong’s status as a centre for philanthropy.
The FamilyOfficeHK team under InvestHK will expand its role, and to launch a new Network of Family Office Service Providers.
These measures will strengthen Hong Kong's position as a global hub for family offices.