In hopes to attract business in the special administration of family offices, Invest HK (Invest Hong Kong) started up an independent office. FamilyOffice HK is to be set up in Admiralty, the central business district in Hong Kong, where it can efficiently serve its clients.
Two members are to be allocated to Europe and Mainland China to focus on the needs of different clients in the two locations. The family office team at HK will hold regular seminars and work intently with the government departments and the industry.
Another essential element would be providing customer services for UHNWIS (ultra-high net individuals) or family offices looking to invest in Hong Kong or Asia.
The Establishment of Family OfficeHK
According to Stephen Phillips, the director of generation at InvestHK, the family business has been booming in recent years, which has given it a crucial spotlight in the wealth and asset management industry.
Dixon Wong, the head of financial services at InvestHK, said that Family OfficeHK is a real milestone in InvestHK’s role to promote Hong Kong business. He believes that the office is set up in a strategic location, where international enterprises and those of Hong Kong can set up a base. He also believes that the family office team will offer services to the family offices that want to set up a base in Hong Kong and reinforce its position as a prime family office hub in Asia.
Dixon Wong also hopes that Family OfficeHK will make Hong Kong one of the most reputable family office hubs in Asia.
Hong Kong has unique advantages and special connections with China and the world, which can create a strong foundation for the private wealth management industry. Moreover, the support offered by the special administrative government of Hong Kong will produce a stable and nurturing environment for more family offices to start up.
‘Hong Kong Government Body Sets Up Family Office Team’- International Adviser, Cristian Angeloni
