According to the head of Union Bancaire Privee in Hong Kong, the recent tax incentives introduced in Hong Kong, along with the resumption of investment migration schemes, are poised to drive the city’s aspirations to become a prominent family office hub. These initiatives are expected to attract more high-net-worth individuals and their families to establish family offices in Hong Kong.
The tax incentives, along with the investment migration schemes, provide favorable conditions for wealthy individuals to relocate to Hong Kong and establish their family offices. This move is in line with Hong Kong’s aim to position itself as the premier destination for family offices in the Asia-Pacific region.
The tax incentives and resumption of investment migration schemes are seen as crucial steps in boosting Hong Kong’s status as a family office hub. By attracting more wealthy individuals and their families, Hong Kong can build a thriving ecosystem of family offices that offer a wide range of services such as wealth management, succession planning, and asset protection.
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Keyphrase: Hong Kong family office hub ambitions.
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