Group 1 - The Hong Kong government is actively working on tax relief measures for family offices, with plans to propose further optimizations in the 2025-2026 budget, including expanding the definition of "funds" under the tax exemption regime and improving tax relief arrangements for private fund distributions [1] - As of the end of 2023, the asset scale from family offices and private trust clients in Hong Kong's private banking and wealth management sector reached HKD 14,520 billion, indicating significant business opportunities for the industry [1] - The Legislative Council of Hong Kong passed a tax relief ordinance in May 2023, allowing single family offices managing assets of at least HKD 240 million to be exempt from profits tax on qualifying transactions [1] Group 2 - Approximately 2,700 single family offices are estimated to be operating in Hong Kong by the end of 2023, with over half established by ultra-high-net-worth individuals with assets exceeding USD 50 million [2] - Since the establishment of the family office team by the Hong Kong Investment Promotion Agency in June 2021, over 160 family offices have been assisted in setting up or expanding their operations in Hong Kong [2] - A total of 147 family offices are preparing or have decided to establish or expand their operations in Hong Kong, with the majority coming from Mainland China and Taiwan [3] Group 3 - The Hong Kong government plans to attract more high-net-worth individuals, including those from Mainland China, to set up family offices in Hong Kong through various investment promotion activities [3] - Starting February 2024, Hong Kong will optimize the "Cross-Boundary Wealth Management Connect" to increase individual investor quotas and lower participation thresholds for southbound investments [3] - The government will continue discussions with Mainland financial authorities to facilitate cross-border fund transfers while managing risks [3]
香港财库局：优化家族办公室税务宽减措施 预计明年提交立法会审议
智通财经网·2025-04-02 07:03