Tax Breaks for Hong Kong Family Offices Coming Soon, Lee Says

Hong Kong Chief Executive John Lee said Wednesday Hong Kong will introduce a bill within this year to offer tax breaks to eligible family offices.

The bill’s provisions will incentivize no less than 200 family offices to set up or expand their operations in Hong Kong by the end of 2025.

• Family offices are a key growth segment of the asset and wealth management industry in Hong Kong, Lee said during a speech.
• Hong Kong manages over $1.7 trillion of assets including private trust clients, but faces increasing competition from Singapore.
• The Hong Kong industry doesn’t ...