Introduction

In a bold move to solidify Hong Kong's position as the leading hub for family offices in Asia, the Hong Kong Family Office Nexus has recently rolled out innovative programs designed to enhance wealth management and philanthropic efforts.

Launch and Objectives

This initiative, launched in October 2022 through a partnership between Bloomberg and the Financial Services and the Treasury Bureau (FSTB) of Hong Kong, aims to foster a vibrant ecosystem for wealthy families and their investments.

Digital Knowledge Hub

One of the centerpiece projects, a 'digital knowledge hub,' serves as a unique knowledge-sharing platform for family offices. This hub is crafted to encourage innovation and collaboration within the family office community, allowing members to exchange insights and strategies.

Strategic Collaboration with Hong Kong Academy of Wealth Legacy

In a complementary move, Bloomberg has also formed a strategic collaboration with the Hong Kong Academy of Wealth Legacy. This alliance is set to equip family offices with vital information about global philanthropic trends, ensuring they stay ahead of the curve in their giving strategies.

Statements from Hong Kong Officials

Paul Chan, the financial secretary of the Hong Kong SAR, emphasized the critical role family offices play in wealth preservation and global philanthropy. 'Given its unique offerings, Hong Kong is not just an option but the ideal place for family offices to thrive and fulfill their ambitions,' he stated, spotlighting the city’s favorable conditions for these entities.

The 2025 Bloomberg Family Office Summit

These initiatives were officially launched during the prestigious 2025 Bloomberg Family Office Summit—a gathering that drew attention from family office leaders across the region. Notable attendees included key figures such as Christopher Hui, the secretary for Financial Services and the Treasury, and Bing Li, head of Asia-Pacific at Bloomberg.

Competitive Landscape

Hong Kong is in a fierce competition with family office hubs like Singapore and Dubai, but its unique advantages are attracting numerous organizations to establish their presence in the city.

Network of Family Office Service Providers

In June 2023, the Hong Kong government took another significant step by unveiling the 'Network of Family Office Service Providers'—a scheme that is part of its broader Policy Statement on Developing Family Office Businesses in Hong Kong.

Transformative Tax Bill

Moreover, the city has also introduced a transformative tax bill aimed at bolstering the family office sector. This bill provides tax exemptions on transactions conducted by eligible single-family offices, effective from April 1, 2022.

Conclusion

As the landscape for family offices continues to evolve rapidly, Hong Kong is clearly positioning itself as the premier destination for these wealth management entities, promising a robust future filled with opportunities.