Hong Kong woos family offices with tax breaks and virtual assets
New tax concessions and virtual asset initiatives aim to strengthen Hong Kong's position as it competes with Singapore for dominance in global wealth management.
Hong Kong has announced plans to introduce tax concessions to attract more single family offices, further establishing the region as a global hub for asset and wealth management, according to the 2025 budget speech delivered by Financial Secretary Paul Chan Mo-po last week.
The government has not yet disclosed specifics regarding the proposal.
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