A Boom in Family Offices in Hong Kong is Driving up the Economy
Today, I am pleased to share with you the findings of the latest Market Study on the Family Office Landscape in Hong Kong. Commissioned by Invest Hong Kong (InvestHK) and conducted by a market research institution, the study provides a comprehensive update on the latest situation of single family offices in Hong Kong in terms of scale, characteristics, investment trends, economic and social contributions, and ecosystem development, offering highly useful insights from a market perspective.
According to the study, as of end-2025, the number of single family offices in Hong Kong has reached 3 384 (with more than half within the wealth tiers of US$51 million and above), which is 681 more than the figure for end-2023 (2 703), representing an increase of over 25% within just two years. This accelerated growth is not only a reflection of global wealthy families’ sustained confidence in Hong Kong, but also a testament to the remarkable success of the Government’s multi-pronged policy measures, including tax concessions, talent attraction, investment facilitation, and ecosystem building, as set out in the 2023 Policy Statement on Developing Family Office Businesses in Hong Kong. Hong Kong is now firmly established as one of the world’s most popular regions for family offices, which are expediting their deep integration into the overall economy.
From the perspective of economic contribution, single family offices bring approximately HK$12.6 billion annually to the local economy through operating expenditure alone, directly creating over 10 000 full-time professional positions across high value-added fields such as financial advisory, legal and accounting services. Factoring in multi-family offices and peripheral professional services providers, overall they create an even more notable pull effect on the economy. The expenditures involved not only support high-end employment, but also drive consumption and investment in such areas as office leases, professional services and philanthropy events, thereby creating a virtuous cycle.
Regarding the characteristics of single family offices, those under survey come from diverse backgrounds with wealth originating from regions across the Chinese Mainland, Hong Kong, Europe, the Middle East, the Asia-Pacific, the United States, the Americas and beyond. Forty percent of the single family offices have second-generation members in leadership positions, with some involving the third and fourth generations. This demonstrates that a concentration of Asia-Pacific’s massive inter-generational wealth transfer is taking place in Hong Kong. Meanwhile, over 75% of the families continue to own and actively operate their family businesses. The role of family offices is evolving from pure wealth guardians to strategic capital platforms for family businesses, providing internal financing, investment and value creation support.
Another highlight of the study is on investment trends. Responding families generally expect to increase their investments in Hong Kong and the Asia-Pacific region. Hong Kong is the only region where no respondents anticipate reduction. In fact, it is the most favoured destination for increased investments, with 60% of the families intending to expand their positions in the city over the next three years. This aligns closely with the excellent performance of Hong Kong’s capital market, which topped global IPO fundraising last year. In terms of sectoral preferences, technology/media and healthcare are the most sought-after areas. Meanwhile, alternative assets are rapidly gaining prominence among asset classes, with private equity firmly in lead. Interest in hedge funds and digital assets is also growing significantly, reflecting family offices’ pursuit of more diversified and resilient sources of return.
Furthermore, over 3 000 applications have been received since the launch of the New Capital Investment Entrant Scheme. If all applications are approved, they are expected to bring over HK$90 billion to Hong Kong. This serves as a clear pathway for more family offices and high-calibre talent to settle in the city.
These achievements would not have been possible without the close collaboration between the Government and the industry. During promotion visits to Europe, Southeast Asia and other regions, InvestHK’s dedicated FamilyOfficeHK team learned about the strong interest of overseas family offices in Hong Kong’s preferential tax regime with no geographical restriction, highly flexible investment environment, and the high level of privacy due to the absence of licensing requirements for single family offices. These are precisely the core considerations influencing their decision to set up their presence in Hong Kong. The Hong Kong Academy for Wealth Legacy (HKAWL) also has a role to play. As a strategic philanthropy platform, the HKAWL coordinates family gifting of public art installations through Impact Link to foster cultural heritage preservation and innovation, while launching iLink Online, an online platform that connects dozens of families with charity projects, to support philanthropy decision-making. On the other hand, as a knowledge partner, the HKAWL organises visits to Italy and the United Arab Emirates for next-generation family members, where they exchange experience in family governance, successor development and long-term capital allocation with global family offices and scholars, hence telling the world the good stories of Hong Kong’s family offices.The strategic collaboration between the Financial Services and the Treasury Bureau and Bloomberg has also yielded fruitful results. Last year, the Bloomberg Family Office Summit and the Wealth for Good in Hong Kong Summit were held concurrently, attracting around 270 family decision-makers from more than 15 countries, and bringing much enthusiasm to a week of wealth management-related activities. The Family Office Digital Knowledge Hub that I launched is a one-stop platform that consolidates curated resources from the Government, Bloomberg, and third parties. Moreover, the Family Office Playbook, created in collaboration with InvestHK, has been downloaded over 1 000 times within a few months of its release, and its promotional videos have achieved good click-through rates, demonstrating strong recognition and engagement from the target audience.
Hong Kong has attained an irreplaceable position in the global family office landscape through a unique combination of advantages, including its mature financial infrastructure, vibrant capital markets, robust rule of law, close connectivity with the Chinese Mainland, as well as strengths in tax, privacy and flexible global allocation. As a next step, the industry is most keenly looking forward to enhanced networking and matching between families and the broader sector, accelerated development of cross-disciplinary professionals, and a more diversified family office development. The Government is planning to introduce legislative proposals in the first half of this year to expand the scope for qualifying investment for the preferential tax regimes offered to funds and single family offices, covering precious metals, loans, private credit investments, and digital assets. Our renowned Wealth for Good in Hong Kong Summit will also see a new edition under the theme Building Lasting Legacies at the end of March. We are fully confident of achieving the targets set out in the 2025 Policy Address: to assist more than 220 family offices to establish or expand operations in Hong Kong from 2026 to 2028.
Hong Kong’s wealth management story is being written by every family that chooses to preserve their legacy and make a contribution in the city. We invite you to explore the full report here, and join us to witness and be a part of Hong Kong’s further growth as the leading family office and wealth management hub in the Asia-Pacific region.
10 February 2026