Hong Kong Legislative Council Report: The number of family offices in Hong Kong reached 3,384 by the end of last year, with total assets under management exceeding HK$35 trillion.

The latest "Data Insights" released by the Research Group of the Hong Kong Legislative Council Secretariat shows that, according to the latest estimate, as of the end of 2025, there were 3,384 single-family offices operating in Hong Kong. Research data shows that by the end of 2024, the scale of assets and wealth management in Hong Kong reached HK$35.14 trillion, a significant increase of 45% compared to 2017. At the same time, the industry estimates that Hong Kong has 17,215 ultra-high net worth individuals, ranking second in the world's cities, behind only New York, bringing stable demand for family office services. The survey shows that 37% of the single-family offices in Hong Kong have been operating for more than 11 years, reflecting a certain foundation for industry development. In terms of funding sources, the research shows that family offices in Hong Kong have offshore assets from the Asia-Pacific region amounting to US$1.29 trillion (about HK$10.1 trillion), with the largest proportion coming from the mainland, reaching US$550 billion (about HK$4.33 trillion), accounting for 43% of the total. Family offices have strong business growth momentum, with tax cuts enhancing attractiveness. Data shows that in Hong Kong's private banking and private wealth management business, assets from family offices and private trusts reached HK$1.55 trillion in 2024, a significant increase of 88% compared to 2017. In terms of tax incentives, both Hong Kong and Singapore provide tax cuts to qualified family offices, with Hong Kong's policies generally seen as more flexible, including no pre-approval requirements and local investment regulations.