A summit will be hosted later this month in Hong Kong as part of the local government's ambitions for the city to become a family office hub.
Hong Kong will host a family office event titled «Wealth for Good in Hong Kong Summit» (WGHK), according to a statement. Organized by the Financial Services and the Treasury Bureau and Invest Hong Kong, the WGHK will take place on March 24 at the Hong Kong Palace Museum.
The summit will feature four key themes: technology, art, green development and philanthropy.
Policy Goals
As one of its key policy objectives, Hong Kong is actively vying to position the city as a family office hub.
The local government is taking forward a legislative proposal to offer tax concessions for qualified family offices and chief executive John Lee underlined in his policy address the target of attracting at least 200 family offices to establish or expand their operations in Hong Kong by end-2025.
«Through the WGHK, the HKSAR Government will build stronger connections with decision makers of global family offices and assist them in exploring opportunities and implementing their development plans in Hong Kong, thereby encouraging more family offices to establish a presence,» said Lee.
