Market Rally Boosts European Family Offices' Investment in Hong Kong

Market Rally and European Family Offices

The recent market rally has significantly enhanced the attractiveness of Hong Kong for European family offices seeking long-term growth. The interest stems from various policies conducted by Hong Kong Chief Executive John Lee Ka-chiu, focusing on enhancing the Capital Investment Entrant Scheme and tax concessions.

BNP Paribas' Insights

According to BNP Paribas officials, the city has become an essential hub for wealth management because of its stability and attractive investment framework. Vincent Lecomte, global wealth-management CEO at BNP Paribas, emphasizes that family offices are not chasing short-term profits but are committed to wealth preservation and growth.

Government Initiatives Fueling Investments

• Expanded tax concessions for single-family offices.
• Cash-for-residency scheme now permits property investments to count toward capital qualifications.
• Hong Kong aims to attract and welcome more European family offices.

Future of Family Offices in Hong Kong

Lecomte noted that many family offices in the region are well structured and professional, allowing Hong Kong to enhance its role as a family office center in Asia due to its proximity to mainland China.