Wealth Management Mastery: An Introduction to Family Offices

Hong Kong as the Unrivaled Hub for Global Family Wealth Hong Kong is not just a financial center; it is the strategic hub for global family wealth in the Asian century, offering an indispensable market briefing for ultra-high-net-worth (UHNW) families. With its unique geographical and policy advantages, Hong Kong has become the ideal base for connecting to the mainland Chinese market and capturing East-West growth opportunities. In recent years, the Hong Kong government has elevated the development of the family office business to a policy priority, dedicating itself to fostering a favorable business environment to solidify its status as a premier destination for family offices .

1.0 Market Landscape: Hong Kong’s Dominance by the Numbers

Concrete data confirms Hong Kong’s leading position in the global family office sector. Data shows that Hong Kong has become the preferred location for over 2,700 single-family offices (SFOs), each managing wealth in excess of USD 10 million . This figure, compared to Singapore’s approximately 1,400 registered family offices by the end of 2023, highlights Hong Kong’s significant advantage in scale . A deeper analysis reveals that Hong Kong’s vast number of family offices stems, in part, from its non-mandatory registration requirement, which contrasts with Singapore’s system. This difference implies the existence of a large and mature “hidden wealth” ecosystem in Hong Kong, where many family offices had been operating for years long before the government’s recent promotional policies. This deep foundation has formed an organic community of experienced professionals, service providers, and family networks, whose resilience and network effects are difficult for markets relying solely on top-down policy promotion to replicate in the short term. This indicates that Hong Kong’s advantage lies not only in its new preferential policies but also in its deep-rooted, naturally formed wealth management culture.

2.0 The Government’s “Full Speed Ahead” Strategy:

Policy as a Catalyst To attract global family offices, the Hong Kong government has launched a series of specific and proactive policy measures, demonstrating a safe and supportive operational environment. In March 2023, the government issued the “Policy Statement on Developing Family Office Businesses in Hong Kong,” clearly identifying “wealth inheritance” as a core theme and introducing a range of tax incentives and support measures . Key initiatives include introducing a new concessionary tax regime for single-family offices, establishing the “Hong Kong Academy for Wealth Legacy” (HKAWL) to nurture talent and promote industry exchange, and launching and optimizing the “New Capital Investment Entrant Scheme” (CIES) to provide a convenient pathway for family members to relocate to Hong Kong . Furthermore, to further streamline the setup process, relevant government departments jointly released “The Family Office Playbook,” offering clear guidance for families intending to establish operations in Hong Kong and showcasing the government’s determination to vigorously promote the industry’s development .

3.0 Future Trajectory: Aligning Wealth with Next-Generation Values

The evolution of the market landscape is leading us to explore future trends, particularly the core concerns of the next generation of wealth heirs who increasingly dominate investment decisions. A significant shift is the growing emphasis on Environmental, Social, and Governance (ESG) investment by global family offices. Surveys show that as many as 90% of family offices globally have integrated ESG strategies into their investment decisions . Investment themes are expanding from traditional sectors to emerging industries with high growth potential, such as Nature-based solutions (represented by reforestation and regenerative agriculture), FinTech, GreenTech, and Web 3.0 . Simultaneously, philanthropy, as an important means of expressing family legacy and values, is also growing in prominence. Hong Kong’s vast network of charitable organizations provides an ideal platform for families to practice impact philanthropy . Hong Kong’s unique position lies in the perfect convergence of government policy, new-generation investment philosophies, and market opportunities. The government mandates that all Hong Kong listed companies must disclose their ESG policies, creating a highly transparent environment for impact investing . At the same time, next-generation investors are actively seeking investment opportunities in areas like green technology, and the government has already invested over HKD 150 billion to support the Innovation and Technology (I&T) sector . This combination of policy transparency, capital demand, and government support creates a unique “deal flow” ecosystem for family offices in Hong Kong. This means that establishing a presence here is not just about setting up a wealth management center; it’s about being in a strategic hub where sustainable investment opportunities are clear, regulated, and actively promoted, thereby significantly reducing the difficulty and cost of finding and deploying socially beneficial capital globally.

4.0 Your Family’s Next Chapter Begins at Eaton Club

For ultra-high-net-worth individuals looking to start a new chapter of family wealth in Hong Kong, establishing a prestigious and compliant business presence is a crucial first step. Eaton Club’s virtual office or serviced office suite not only provides the necessary registered address and professional business infrastructure but also serves as an ideal starting point for this journey.