The Hong Kong government has launched a network of service providers for family offices as part of ambitions to attract the ultra-rich to the city.
Hong Kong has launched the «Network of Professional Service Providers for Family Offices», according to the local government, which includes private banks, accountants, lawyers, trust companies and more.
«It brings together professional service providers […] so that you can meet each other doing mutual business referrals and, at the same time, help us as a team promote Hong Kong to our target markets,» said Financial Secretary Paul Chan, adding that he also expects the network to provide policy advice to the government.
Policy Ambitions
The network launch is one of the eight initiatives announced on March 24 in the government’s policy statement on developing family office businesses in Hong Kong. Other initiatives include the development of art storage spaces and enhanced support for philanthropic activities.
By the end of 2025, Hong Kong authorities aim to attract at least another 200 family offices to establish or expand operations in the city.
