TL;DR
Hong Kong is attracting European family offices with tax incentives and access to technology from China after overtaking Switzerland as the top offshore wealth center.
About thirty European family offices have informed the Hong Kong investment promotion agency that they plan to establish themselves in the city.according to InvestHK. The interests represent around 19% of the 160 family office cases InvestHK is currently handling and reflect a broader European shift towards Asia that is being driven by tax incentives, China’s tech boom and geopolitical rebalancing.
Jason Fong, global head of family office at InvestHK, said several Italian families attended the Wealth for Good Summit in Hong Kong in March 2026 and subsequently held strategic discussions with the agency. “For European families looking for a new boost of growth, Hong Kong offers something that has become notably rare: certainty, resilience, stability, innovation and opportunity in a single jurisdiction.Fong told the South China Morning Post.
The moment is not coincidental. Hong Kong overtook Switzerland last year to become the world’s largest cross-border wealth management hub, with $2.95 trillion in offshore assets compared to Switzerland’s $2.94 trillion, according to Boston Consulting Group’s Global Wealth Report released in May. BCG projects the gap will widen to nearly $600 billion by 2030.
The city’s family office sector has expanded rapidly. A Deloitte study commissioned by InvestHK found that the number of single-family offices in Hong Kong increased 25% over the past two years to about 3,384 by the end of 2025, injecting about $12.6 billion annually into the local economy through operating expenses alone.
Tax incentives are a central attraction. Hong Kong exempts its 16.5% income tax on profits from stocks and bonds for single-family offices that own an investment portfolio of at least HK$240 million (approximately $30.8 million), employ two people in the city and incur annual operating expenses of at least HK$2 million. The government will introduce legislation this month to extend the tax exemption to cover additional investment products.
Jennifer Chan, co-founder of Orientis, a French consultancy that advises high-net-worth European clients, said geopolitical tensions have led some investors to reassess their global allocation. “Traditionally, European family offices tend to like to invest domestically, or they may invest in the United States and the Middle East.“she said.”However, in recent years they have begun investing in Hong Kong and other parts of Asia.“
Chan said the Middle East conflict that escalated in late February has made Hong Kong appear comparatively stable. Orientis has organized eight trips to Hong Kong for wealthy families from Germany, France, Switzerland, the Netherlands, Belgium and Italy over the past 18 months, with some clients subsequently setting up family offices in the city.
The investment thesis has two aspects. The first is China’s technology sector. International investors have rushed into Chinese tech stocks since the AI startup’s breakthrough. deep search At the beginning of last year he highlighted the country’s innovative potential. Chan, who is also director of the Hong Kong Science and Technology Parks Corporation, said many family office representatives are meeting local startups at the science park, and some have already invested.
The second is Hong Kong ownership. Chan said European families believe the market has fallen significantly and is showing signs of recovery, making it an attractive entry point.
Government promotion has been active. Finance Secretary Paul Chan Mo-po has led European tours to raise the city’s profile among wealthy families. Hong Kong’s growing role as a financial hub for Chinese tech companies adds to its appeal as a gateway for European capital seeking exposure to continental innovation.
Institutional infrastructure is expanding to adapt. French insurer AXA launched AXA Global Private in Hong Kong on Monday to serve high-net-worth clients and family offices, and its chief executive Sally Wan said the company was confident Hong Kong would remain the world’s largest offshore wealth centre. The platform offers life insurance, wealth management and succession services for wealthy families across Asia.
Cliff Ip Wang-hoi, chair of CPA Australia’s Greater China financial services committee, said Hong Kong serves as a gateway to mainland China and the Greater Bay Area. “The rapid development of the technology and artificial intelligence sectors in China presents significant investment opportunities for European family offices.”Ip said.
