Hong Kong’s family office sector is flourishing, with more than 2,700 single-family offices in the city, according to a market study published by Deloitte in collaboration with FamilyOfficeHK. As one of the world’s pre-eminent international financial centers, Hong Kong’s history of family wealth management, a substantial part of the asset management sector, can be traced back to as early as the late 1800s.
Over the years, Hong Kong has developed into one of Asia's largest cross-border wealth management centres. Recently, the city has increased its investment in, and commitment to, the development of an enhanced, world-class family office regime. In the recent 2024-25 Hong Kong Budget, the Government proposed to further enhance the preferential tax regime for single family offices.
In general, there are two types of family offices: single-family offices and multiple-family offices. A single family office arrangement is established to serve the needs of members of a single family, while a multiple family office serves more than one high net-worth family. While there is a vibrant ecosystem for both types of family offices in Hong Kong, this report focuses on single-family offices only. This study defines “singlefamily office” as an independent, private business entity with the sole purpose of managing various needs of a single family such as financial needs, family governance, wealth planning, wealth preservation, wealth transfer, and philanthropic endeavors.
