Invest Hong Kong (InvestHK) announced today (June 29) the opening of the independent office of its dedicated FamilyOfficeHK team, which aims to promote family office business in the city. The office in Admiralty, near Central and its cluster of family offices, provides a convenient location for the department to serve its family office clients.
The Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, said, "The family office business has flourished in recent years, becoming an important growth segment in the wealth and asset management industry. The establishment of our FamilyOfficeHK team is a milestone in InvestHK's endeavour in promoting Hong Kong as an ideal location in which Hong Kong and overseas-based enterprises can set up a family office presence. I believe that the team will further promote Hong Kong's unique advantages and offer one-stop services to family offices that are interested in setting up a base in Hong Kong, and consequently reinforce Hong Kong's position as a prime family office hub in Asia."
The FamilyOfficeHK team will work closely with the local industry and relevant government departments. In addition to holding seminars to introduce Hong Kong's advantages in the family office industry, it will also provide customer services and meet with family offices or ultra-high net worth individuals interested in developing a foothold in Asia. The team will listen to their needs and provide customised assistance services.
Apart from members from Hong Kong, the team also has two members in Mainland China and one in Europe. The diversity is aimed at gaining an all-round understanding of family offices in different countries so that the team can provide suitable help for family offices intending to come to Hong Kong.
The Head of Financial Services and Global Head of Family Office at InvestHK, Mr Dixon Wong, said, "We hope that the establishment of FamilyOfficeHK will cement Hong Kong's position as one of the most sought-after family office hubs in Asia. The unique advantages of Hong Kong – namely our connectivity with China and the world, effective legal system and strong foundation for our private wealth management industry, plus continuous support by the Hong Kong Special Administrative Region Government – add up to create a very conducive environment for family offices to develop in Hong Kong."
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