Key Takeaways
- • The number of single-family offices in Hong Kong grew at least 25% over two years to 3,384, according to a recent Deloitte study.
- • A Hong Kong Institute for Monetary and Financial Research (HKIMR) report, based on interviews and a survey of 101 local stakeholders, found family offices are prioritizing sustainable and socially impactful investments as risk-mitigation tools.
- • Family offices are also pursuing private markets and digital assets such as AI, digital currencies and blockchain-based technology to drive growth, with younger family members a key driver.
- • Citi and UBS 2025 family office reports show more than half of global family offices are interested in sustainable strategies, with over 60% of APAC survey respondents indicating likely allocations.
- • Hong Kong's tax concessions classifying digital assets, precious metals and specified commodities as "qualifying investments" underpin the city's push to become a leading global family office hub.
Summary
Hong Kong has attracted hundreds of family offices over the past several years as part of an aggressive government push to draw generational investors to the special administrative region. According to a recent Deloitte study, the number of single-family offices in the city has grown by at least 25% over the last two years to 3,384.
A report from the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance, found that family offices are prioritizing sustainable and socially impactful investments as risk-mitigation strategies rather than purely altruistic pursuits. These strategies can guard against reputational risks, counteract systemic threats and appeal to younger heirs. The report, based on interviews with family office principals and regulators and a survey of 101 local stakeholders, also found family offices are pursuing private markets and digital assets to achieve growth, with interest in artificial intelligence, digital assets and blockchain-based technology driven largely by younger family members.
The policy backdrop includes retroactive tax concessions, philanthropic support, a government-backed network of service providers, the Hong Kong Academy for Wealth Legacy and a simplified residency application process, introduced between 2022 and early 2024. Financial Secretary Paul Chan said in a 2023 announcement that these measures demonstrate "determination to develop Hong Kong into a leading global family office hub." Hong Kong has also classified digital assets, precious metals and specified commodities as "qualifying investments" for tax concessions and issued the world's first tokenized green bonds, introduced in 2023 with settlement shortened to a single day.
Citi and UBS 2025 family office reports indicate that more than half of the world's family offices are interested in allocating to sustainable strategies, with Asia-Pacific investors the most bullish; more than 60% of APAC survey respondents in Citi's data said they were likely to allocate to sustainable investments. Enoch Fung, CEO of the Hong Kong Academy of Finance and executive director of HKIMR, said in the report that integrating financial objectives with environmental and social goals allows family offices to manage risk and contribute to society.
The report cautions that long-term success as a family office hub will depend on balancing high-growth digital ambitions with rigorous risk management. It also notes potential overlap between the two themes: blockchain can support transparent impact investing, and AI can help analyze ESG data, while many sustainability solutions may rely on AI. Fung added that family offices may also contribute fresh capital to financial markets, supporting economic growth and employment.
A report from the Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance, found that family offices are prioritizing sustainable and socially impactful investments as risk-mitigation strategies rather than purely altruistic pursuits. These strategies can guard against reputational risks, counteract systemic threats and appeal to younger heirs. The report, based on interviews with family office principals and regulators and a survey of 101 local stakeholders, also found family offices are pursuing private markets and digital assets to achieve growth, with interest in artificial intelligence, digital assets and blockchain-based technology driven largely by younger family members.
The policy backdrop includes retroactive tax concessions, philanthropic support, a government-backed network of service providers, the Hong Kong Academy for Wealth Legacy and a simplified residency application process, introduced between 2022 and early 2024. Financial Secretary Paul Chan said in a 2023 announcement that these measures demonstrate "determination to develop Hong Kong into a leading global family office hub." Hong Kong has also classified digital assets, precious metals and specified commodities as "qualifying investments" for tax concessions and issued the world's first tokenized green bonds, introduced in 2023 with settlement shortened to a single day.
Citi and UBS 2025 family office reports indicate that more than half of the world's family offices are interested in allocating to sustainable strategies, with Asia-Pacific investors the most bullish; more than 60% of APAC survey respondents in Citi's data said they were likely to allocate to sustainable investments. Enoch Fung, CEO of the Hong Kong Academy of Finance and executive director of HKIMR, said in the report that integrating financial objectives with environmental and social goals allows family offices to manage risk and contribute to society.
The report cautions that long-term success as a family office hub will depend on balancing high-growth digital ambitions with rigorous risk management. It also notes potential overlap between the two themes: blockchain can support transparent impact investing, and AI can help analyze ESG data, while many sustainability solutions may rely on AI. Fung added that family offices may also contribute fresh capital to financial markets, supporting economic growth and employment.
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