According to the last Private Wealth Management Association (PWMA) Annual Survey, attracting more family offices to Hong Kong is a key growth driver for the private wealth management industry. PWMA was delighted to collaborate with the Hong Kong Institute of Bankers, inviting Jessica Cutrera from the Family Office Association Hong Kong to present on “Trends in Family Offices”. The response to the event was overwhelming, reaching its full capacity within the first few hours of registration.

Jessica shared many useful and interesting insights, including differences between single family offices (SFOs) and multi-family offices (MFOs), benefits of the Hong Kong Tax Incentive Scheme, Hong Kong’s Capital Investment Entrant Scheme (CIES) and 0% Concessionary Profits Tax, opportunities and challenges for Hong Kong as well as the role of talent in family offices. At the networking session that followed there was a meaningful exchange of ideas and development of valuable connections amongst attendees.

Amy Lo, Chairman of PWMA’s Executive Committee, underscored Hong Kong’s advantageous factors in attracting family offices, including its simple tax system and its identity as an Art Hub at the HKIFA conference earlier this week. Amy emphasized that the true magnet for attracting more family offices from Southeast Asia and the Middle East lies in the abundant investment opportunities within mainland China, particularly in the Greater Bay Area (GBA). Amy further highlighted the growing interest among global family offices, particularly those with a regional focus, in allocating their investments in the Hong Kong and Chinese stock markets.