HSBC Private Bank Head of Family Office Advisory APAC Aik Ping Ng: Hong Kong Family Office Incentives Integral to to be a Leading International Family
24th February 2023 | Hong Kong
Expert Comment – HSBC Private Bank Head of Family Office Advisory APAC Aik Ping Ng on the latest Hong Kong family office incentives: “We welcome Hong Kong government’s latest announcement on family office incentives and believe these are integral to the city’s ambition to become a leading international family office hub. The rapid growth of Asian wealth, coupled with UHNW families‘ intent to institutionalise and professionalise the management of their wealth in recent years, has spurred the development of Hong Kong’s family office ecosystem. Incentives like these will help strengthen Hong Kong’s competitive edge and encourage new and existing family offices to expand their presence on the ground. Looking ahead, HSBC Global Private Banking will continue to play a pivotal role in serving these family offices in Hong Kong and the region using the HSBC Group’s collective strengths and international connectivity.” Hong Kong 2023 Budget Announcement: HKD 100 million ($7.8 million) funding allocated to InvestHK dedicated to family office promotional campaign. In 2023 January, Hong Kong government introduced a bill on tax exemptions for eligible single family offices with minimum $30 million assets (HKD 240 million), retrospective from 1st April 2022 and passing tests on family office control, holding period & immovable property. In 2022 October, new Hong Kong Chief Executive John Lee Ka-chiu announced a series of new policies to strengthen Hong Kong as a leading financial hub in his 2022 policy address (19th Oct 2022, Wednesday). For family offices, Hong Kong will give tax-concession to eligible family offices, and target to attract at least 200 of the world’s top family offices to set up or expand their operations by 2025. Hong Kong manages $216 billion (HKD 1.7 trillion) of assets from family offices & private trusts (2022). Read More: Hong Kong Introduces Bill on Tax Exemptions for Single Family Offices with Minimum $30 Million Assets, Retrospective from 1st April 2022 & Passes Control, Holding Period & Immovable Property Tests | Interview on Setting Up Family Office with Dixon Wong, Head of Financial Services & Family Office at InvestHK
“ Hong Kong Family Office Incentives Integral to to be a Leading International Family Office Hub, Rapid Growth of Asian Wealth & UHNW Families Intent to Institutionalize & Professionalize Management of Wealth “
- Article continues below - Web links may be disabled on mobile for security. Please click on desktop. Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle New to Caproasia Learn More | Sign Up | Subscribe | Register Events The 2023 Investment Day | HK & SG Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023. Visit | Register here
HSBC Private Bank Head of Family Office Advisory APAC Aik Ping Ng: Hong Kong Family Office Incentives Integral to to be a Leading International Family Office Hub, Rapid Growth of Asian Wealth & UHNW Families Intent to Institutionalize & Professionalize Management of Wealth Ng Aik-Ping, Co-Head of Family Office Advisory Asia-Pacific at HSBC Global Private Banking
HSBC Private Bank Head of Family Office Advisory APAC Aik Ping Ng on the latest Hong Kong family office incentives:
- Hong Kong 2023 Budget Announcement: HKD 100 million ($7.8 million) funding allocated to InvestHK dedicated to family office promotional campaign.
- In 2023 January, Hong Kong government introduced a bill on tax exemptions for eligible single family offices with minimum $30 million assets (HKD 240 million), retrospective from 1st April 2022 and passing tests on family office control, holding period & immovable property.
- In 2022 October, new Hong Kong Chief Executive John Lee Ka-chiu announced a series of new policies to strengthen Hong Kong as a leading financial hub in his 2022 policy address (19th Oct 2022, Wednesday). For family offices, Hong Kong will give tax-concession to eligible family offices, and target to attract at least 200 of the world’s top family offices to set up or expand their operations by 2025. Hong Kong manages $216 billion (HKD 1.7 trillion) of assets from family offices & private trusts (2022).
On Family Office in Hong Kong:
- Hong Kong Introduces Bill on Tax Exemptions for Single Family Offices with Minimum $30 Million Assets, Retrospective from 1st April 2022 & Passes Control, Holding Period & Immovable Property Tests
- Interview with Dixon Wong, Head of Financial Services at InvestHK
About HSBC Global Private Banking
As part of the HSBC Group, one of the world’s largest banking and financial services organisations, HSBC Private Banking seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. HSBC Private Banking is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2.992 trillion at 30 September 2022, HSBC is one of the largest banking and financial services organisations in the world.
Managing $20 million to $3 billion. Investing $3 million to $300 million. For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm. Join Events & Find Services Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services. Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected] Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Quick Links Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2023 Investment Day | 2023 Family Office Summits | Family Office Circle 2021 Data Release 2020 List of Private Banks in Hong Kong2020 List of Private Banks in Singapore 2020 Top 10 Largest Family Office2020 Top 10 Largest Multi-Family Offices2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM For Investors | Professionals | Executives Latest data, reports, insights, news, events & programs Everyday at 2 pm Direct to your inbox Save 2 to 8 hours per week. Organised for success Register Below For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors Get Ahead in 60 Seconds. Join 10,000 + Save 2 to 8 hours weekly. Organised for Success. Sign Up / Register You are:
InvestorProfessionalFamily OfficeExecutive
Select:
TrialSubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- 28th March 2023 - Hong Kong
- 4th April 2023 - Singapore
- April 2023 - Virtual
- Sept 2023 - Hong Kong
- Oct 2023 - Singapore
- Oct 2023 - Hong Kong
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.