3 Why Hong Kong
P.4 A leading private wealth management (PWM) hub in Asia
Premier international asset P.12 management centre
Regional centre for philanathropy P.24 and sustainable finance
Ideal environment for P.28 Family Office operations 01 A leading hub in Asia, serving the burgeoning PWM market 5
Family Office (FO) is more than just wealth management
Why set up Family Offices?
Family wealth protection
Clarifying governance over how the family stewards its wealth
Improving family cohesion and generational transition
Managing the personal affairs of family members
Managing investment risk
Only around half of the FOs have succession plans
Asia Pacific 49% 51%
Europe 54% 46%
North America 48% 52%
Succession plan in place Succession plan not in place
Source: PWC Family Office Services, The UBS/ Campden Wealth Global Family Office Report 2019 6
FO is gaining popularity among ultra-high-net-worth individuals (UHNWIs)
In 2019, a survey conducted by UBS and Campden Wealth suggested that:
• Over two-thirds (68%) were only founded in 2000 or later
• Just over 10% were founded before 1970s
Generations the FO has served (now or in the past)
70% 61% 60% 53%
50% 48% Most families with an FO have up to
40% 3 generations only.
30% 25% 20%
10% 12% 5% 4% 1% 0% 1st Gen 2nd Gen 3rd Gen 4th Gen 5th Gen 6th Gen 7th Gen Don’t know
Source: The UBS/ Campden Wealth Global Family Office Report 2019
A leading hub in Asia, serving the burgeoning PWM market 7
Strong growth in Asia-Pacific HNWIs population and financial wealth
Number of HNWIs by region million 7 6.5 6.3 6 5.2 5
4 3.4 3.3 3.1 3
2
1
0 2010 2019
Asia-Pacific North America Europe
US$ trillion HNWIs financial wealth by region 25
22.2 21.7 20
16.7 15
11.6 10.8 10.2 10
5
0 2010 2019
Asia-Pacific North America Europe
Note: HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables. Source: Capgemini Financial Services Analysis, 2018, 2019, 2020 8
Greater China is the key wealth creation region in Asia
Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as the largest bay area in the world, has huge growth potential
1 2 4 3
1 2 3 4
San Francisco Bay New York City GBA Greater Tokyo Area Area
GDP (US$ trn) 0.8 1.7 1.5 1.8
Area (sq.km) 17,900 783 56,000 36,800
Population (mn) 7.6 8.6 70.0 43.8
Source: Fung Business Intelligence, China Council for the Promotion of International Trade, Hurun Wealth Report in Nov 2019
A leading hub in Asia, serving the burgeoning PWM market 9
GBA contributes to the strong wealth growth momentum in Greater China
UHNW families in Greater China
84,000+
UHNW families in the GBA +20%
19,300+ • 84,000+ UHNW families in >1/5 of Greater China, increasing Greater by around 20% in the past 3 China years
• 19,300+ UHNW families are in the GBA (>1/5 of the entire Greater China)
Note: UHNW family is defined as family with assets over US$30 million. 10
Hong Kong is at the centre of Asia’s burgeoning PWM market
Total assets of the private banking and PWM business in Hong Kong
US$ billion
1,200
1,153
1,000 1,000 973
50% 800
667
612 600 587
400
Sourced from 50% outside of Hong Kong 200
0 2014 2015 2016 2017 2018 2019
Note: From 2017 onward, the scope was extended to cover the total assets under private banking and private wealth management clients’ accounts generated, managed or served by Hong Kong relationship managers of licensed corporations and registered institutions which are part of a larger banking group, or for which the relationship managers are accountable. In previous years, the figures include the private banking business of registered institutions and private client funds of licensed corporations and registered institutions. Source: Asset and Wealth Management Activities Surveys (SFC) 2019, Hong Kong Private Wealth Management Report 2019 (KPMG & PWMA)
A leading hub in Asia, serving the burgeoning PWM market 11
Hong Kong is Asia’s largest cross-border PWM centre; second largest globally after Switzerland
All top 15 global private wealth managers (by AUM) are present in Hong Kong
Cross-border wealth (US$ trillion)
2.4 2017 2.3 2019
1.9
1.1 1.1
0.9 0.8 0.7
0.3 0.3 0.3 0.3
Switzerland Hong Singapore US Luxembourg UK Kong
Source: Global Wealth Report 2018, 2019, 2020 (BCG), Wealth Management Competitor Analytics (Global Data), HKMA 02 Premier international asset management centre with great access to investment deals 13
Hong Kong is an ideal platform to serve the asset allocation needs of FOs
Average asset allocation for FOs globally 35% 33% 32% 2018 2019
30%
25%
20% 19% 19% 18% 17% 16% 16%
15%
10% 8% 7%
5% 5% 5%
0% Bonds Equities Private equity* Real estate** Hedge funds Cash or equivalent
* Include both direct investment and investment through private equity funds ** Include both direct investment and investment through REITs
Source: The UBS/ Campden Wealth Global Family Office Report 2019 14
Leading international asset management hub
Home to 70 of top 100 global money managers
HK’s asset under management (US$ trillion) Number of licensed asset managers in HK
2019 3.7 2019 1,808
2015 2.2 2015 1,135
2010 1.3 2010 798
2005 0.6 2005 475
2000 0.2 +18.5x 2000 203 +8.9x
Private Equity capital under management in 2019 US$ billion
600 591
500
400
300
200 160 102 100 75 72 43 40 9 0
India Japan China Australia Singapore Malaysia Hong Kong South Korea
Source: SFC, Investment & Pensions Europe, HKMA, Asia Venture Capital Journal (AVCJ)
Premier international asset management centre with great access to investment deals 15
Asia’s deepest international capital market
World’s largest equity fundraising centre 3rd largest bond centre in Asia ex-Japan
HK’s market capitalisation 2019 Asia ex-Japan bond issuance
US$ billion US$ billion
6,000 4,500
4,000 3,889 5,000 4,893
3,500 +4.7x 4,000 3,000
3,165 2,500 2,702 3,000 2,000
2,000 1,500
1,047 1,000 739
1,000 560 492 500 341
0 0
2005 2010 2015 2019 Korea Mainland Thailand China Hong Kong Singapore
Source: HKEX, ADB 16
A comprehensive banking platform
Assets of HK banking industry
3,500 3,136 3,000 3.7x 2,459 2,500
2,000
1,576 US$ billion
1,500
929 1,000 854
500
0
2000 2005 2010 2015 2019
Source: HKMA
In 2019, there are over 190 Authorised Institutions in Hong Kong …
… coming from around 30 countries, including nearly 80 of the world’s top 100 banks
8 new virtual banks formed by financial and non-financial firms
Premier international asset management centre with great access to investment deals 17
More channels to enhance financial connectivity with Mainland China
Going forward
Mutual access of wealth management products Bond Connect (GBA) International investors can 2017 trade and clear China bonds using HK Shenzhen-HK Stock Connect 2016 Extension of Stock Connect to cover SZSE
Mutual Recognition of Funds Chinese and HK investment 2015 funds can be distributed to each other’s public after Shanghai-HK Stock streamlined approval Connect
International investors 2014 can trade Shanghai stocks through HKEX and Chinese investors can trade HK stocks through SSE RQFII
Extension of QFII to 2011 allow RMB
Mainland-Hong Kong In 2019, there are over 190 Authorised Institutions in Hong Kong … Closer Economic Partnership Arrangement 2003 (CEPA) … coming from around 30 countries, including nearly 80 of the world’s top 100 banks Preferential trade & investment policies 8 new virtual banks formed by financial and non-financial firms QFII Invest in onshore equity & bond markets 2002 after opening onshore accounts 18
Greater China market dominates Asia Pacific private equity (PE) deal flows
Strong growth in Asia Pacific PE deal China (including Hong Kong) made up count and value in recent years close to 40% of the Asia Pacific PE deal flows
Asia Pacific PE Deal Flows Value Total Asia Pacific PE Count Deal Flows in 2019 (by value)
US$ billion 300 6,000
South Japan Korea Australia 7% 12% 6% Others 250 5,000 3% China (including Hong Kong) South East Asia 39% 9% 200 4,000
India 24%
150 3,000
100 2,000
50 1,000
0 0 2014 2015 2016 2017 2018 2019
Source: AVCJ
Premier international asset management centre with great access to investment deals 19
Ideal platform for PE investments
Strong momentum in investment in Home to over 500 PE and venture internet/tech sector in Greater China capital firms, including 15 of the top 20 global PE Managers
USD$ 2010-19 Global ranking billion growth PE Managers in Hong Kong Priviate equity investment deal value in (2019) Greater China 175 1 Blackstone
125 3 KKR
1.6x 4 CVC Capital Partners
Other sectors 5 Warburg Pincus 75 6 Bain Capital
7 EQT 25 13.6x 9 Apollo Global Management Internet and technology 10 Neuberger Berman Group
0 12 TPG 2010 11 12 13 14 15 16 17 18 19 15 Apax Partners
18 Permira Advisers
20 Silver Lake
Source: AVCJ, Asia-pacific Private Equity Report 2020 (Bain & Company), PEI, HKMA 20
GBA Initiative creates an integrated financial and innovation zone around Hong Kong
Hong Kong will benefit from the development of GBA
Population, trade and Strengthen Hong Enjoy mutual financial capital flows create Kong’s status as a market access in the opportunities for global offshore RMB GBA payment, banking and business hub wealth management services
Shenzhen China’s “Silicon Valley”
Hong Kong International Financial Center
Guangdong Province The World’s Factory
Source: Constitutional and Mainland Affairs Bureau
Premier international asset management centre with great access to investment deals 21
Unparalleled access to GBA investment opportunities
The number of unicorns in GBA and Mainland China supports the engagement their valuations are growing of Hong Kong PE funds in the financing of innovation and technology enterprises in GBA
Number of Unicorns in GBA Valuation of Unicorns in GBA
+83% RMB RMB 614 335 billion billion 2017
2017 2019 Q3
14 2019
33
Note: “Unicorn” refers to a startup with at least US$1billion valuation Source: Hurun Greater China Unicorn Index 2017, 2019 Q3 22
Strong pipeline of local startup investment opportunities…
The number of startups in Hong Kong as well as their operation scale continue to grow
Total no. of startups Total no. of staff*
3,360 startups 10,688 employees
+51% +69% vs 2017 vs 2017 +6% +21% +31% 3,360 12,478 3,184 -14% +18% +51% 10,688 2,625 +16% 9,548 2,229 +21% 6,320
2017 2018 2019 2020 2017 2018 2019 2020
*Employed by startups, including founders.
Source: StartmeupHK (InvestHK)
Premier international asset management centre with great access to investment deals 23
…covering a wide range of industries with Strong pipeline of local startup investment opportunities… government support
Innovation and Technology InvestHK HKMA SFC, IA Cyberport Commission
Industry Specialists: • The Fintech • SFC Regulatory • Cyberport Youth The Innovation and Technology Fund Facilitation Sandbox • Cyberport Youth • Business & Professional Services • Cyberport Entrepreneurs Office • IA InsurTech Sandbox • Cyberport Entrepreneurs Supporting Technology Startups • Creative Industries • Cyberport Partners • HKMA FinTech • Cyberport Partners • Consumer Products Supervisory Promoting an I&T Culture • Financial Services Sandbox Supporting Research & Development • FinTech • Innovation & Technology Facilitating Technology Adoption • Tourism & Hospitality Nurturing Technology Talent • Transport & Industrial
Government support • StartmeupHK
Startups covering a wide range of industries
468 Financial technology (Fintech) 276 Others 385 E-commerce / supply chain 32 management / logistics technology Foodtech 357 35 Professional or consultancy services Robotics/ smart manufacturing
315 55 Information, computer & technology Biotechnology
241 63 Data analytics Social innovation/ venture
234 Design 67 Retail technology 171 Education & learning 99 Smart city 163 Hardware (loT, 3-D printing, prototypes, wearables) 106 Sustainable / green technology
148 140 Health & medical Digital entertainment and gaming
Source: StartmeupHK (InvestHK), FinTechHK (InvestHK), HKMA, GovHK-Innovation and Technology Commission 03 Regional centre for philanthropy and sustainable finance 25
A leading regional centre for philanthropy
Impact Investing is becoming increasingly popular for FOs
Netherlands 14.0 Switzerland 13.3 25% US 4.8 of FOs involved in impact Italy 4.7 investing Hong Kong SAR 3.3 UK 3.2 Germany 2.7 67% Spain 2.4 of FOs expect to have +10% of their total Turkey 2.4 portfolio in impact France 1.2 investing in 5 years Mexico 1.0 Colombia 0.9 Australia 0.7 Canada 0.3 Philanthropic asset (as % of GDP) Chile Top impact investments areas by FOs: 0.3 Ireland 0.3 Education South Africa 0.3 Agriculture & food Nigeria 0.3 UAE 0.3 Energy & resource efficiency Peru 0.2 Health care & wellness China 0.1
Note: Impact investing is defined as ‘Generating a measurable social and Note: Philanthropic assets are considered assets that are held by philanthropic environmental impact alongside a financial return.’ institutions to advance the public good. Philanthropic institutions may take different models to operate, including independent foundation, family foundation, corporate foundation, community foundation and government-linked foundation.
Hong Kong is the centre for philanthropy with more than 15,000 charitable organisations
Source: Based on the respondents to the survey in the UBS/Campden Source: Adapted from the Harvard/UBS Global Philanthropy Report. The figure Wealth Global Family Office Report 2019. of Hong Kong is based on data of 2016. 26
Comprehensive Green Finance ecosystem in Hong Kong
Green Bond Market
• One of the world’s largest green bond markets
• US$11 billion arranged and issued in 2018
Strong Government Support
• Pilot Bond Grant Scheme
• Green Bond Grant Scheme
• HK$100 billion Government Green Bond Programme
• Enhancement of the Qualifying Debt Instrument Scheme
Stakeholders’ presence
• Internationally renowned green reviewers + local agencies
• Banks’ Debt Capital Markets and green specialists
• International institutional investors
Regional centre for philanthropy and sustainable finance 27
Strong support to sustainable banking and green finance from the regulator
The HKMA, as a bank regulator and one of the largest asset owners globally, launched three sets of measures to support and nurture green finance in May 2019
Green and Sustainable Responsible Centre for Green Banking Investment Finance (CGF)
A phased regulatory approach HKMA’s Exchange Fund Establish the CGF under to promote green and will give priority to ESG the HKMA Infrastructure sustainable developments of (Environmental, Social and Financing Facilitation Office Hong Kong’s banking industry Governance) investments (IFFO), serving as a platform if long-term risk-adjusted for technical support and return is comparable to other experience sharing for the investments green development of the Hong Kong banking and finance industry 04 Ideal environment for Family Office operations 29
A secure, autonomous, stable platform for wealth management
Independent legal and judicial system under “One country, two systems”
• The National constitution and the Basic Law provide for the “One country, two systems” framework
• The only place that practices common law and truly applies a bilingual system with both Chinese and English as official languages
• Ranked No. 2 in Asia in respect of the rule of law in The Worldwide Governance Indicators project of the World Bank Group
Independent monetary and economic policies
• Consistently ranked top on economic freedom and competitiveness
• Free flow of capital
• Linked exchange rate system (HKD peg to USD)
Monetary and financial stability well supported by a robust system
The Linked Exchange Rate System (LERS)
• Cornerstone of Hong Kong’s monetary and financial stability
• Implemented since 1983 to ensure the stability of HKD exchange rate to USD
• Backed by the Exchange Fund with foreign currency reserve assets representing around 2X of HKD monetary base
Free flow of capital
• Protected by Article 112 of Hong Kong’s Basic Law
• “No foreign exchange control policies shall be applied in the Hong Kong Special Administrative Region. The Hong Kong dollar shall be freely convertible…
• The Government of the Hong Kong Special Administrative Region shall safeguard the free flow of capital within, into and out of the Region.”
Source: HKMA 30
Unparalleled connectivity to the world
Over Over 71.5 5 hours 1,100 220 million from half destinations flights daily passengers the world’s worldwide by handled in population 120+ airlines 2019
No. of daily direct Flying time (approx., hrs) flights to & from HK
London 17 12.5
New York 10 16
Boston 2 16
San Francisco 11 12.5
Toronto 5 15
Zurich 4 12.5
Sydney 12 9
Mumbai 3 7
Dubai 8 8.5
Singapore 35 4
Moscow 2 10
Note: Direct flights only (excl. code share flights) Source: InvestHK, Airport Authority Hong Kong, Google
Ideal environment for Family Office operations 31
A unique gateway to Mainland China
Cultural background • Familiar business culture and language • Both English and Chinese as official language
• Most convenient access to Mainland China < 4 hours to major cities Best location < 1 hour between Hong Kong, Macao and western coast of Pearl River Delta
• Favourable policies that foster Hong Kong’s connectivity with Policy support Mainland China • Greater Bay Area Initiative
Double Taxation • Unparalleled beneficial treatment under the HK-Mainland DTA Agreement (DTA)
4 hrs of flying time
Hong Kong 32
Abundant supply of professional services and talent
Fund management • All of the top 20, and around 70 of the top 100 global money managers have presence in Hong Kong
• >42,000 practitioners in the asset and wealth management business
Accounting
• >45,000 certified public accountants in Hong Kong
Legal
• Over half of the global 100 law firms have presence in HK
• >13,000 practicing solicitors and barristers (incl. registered foreign lawyers from 33 jurisdictions)
Universities • 3 universities in world’s top 50 & Asia’s top 10
• 2 EMBA programmes in the world’s top 5
Source: Hong Kong Institute of Certified Public Accountants , Census and Statistics Department, The Law Society of Hong Kong, HKTDC, InvestHK, SFC, QS World University Rankings 2019, Financial Times EMBA Ranking 2018, Department of Justice, Investment & Pensions Europe, HKMA
Ideal environment for Family Office operations 33
Strong government and industry support to FO operations
Over 40 private banks including top 15 global private wealth managers* in Hong Kong
Various associations in place to support industry development, e.g.
• Private Wealth Management Association
• Hong Kong Venture Capital and Private Equity Association-Family Office Committee
Government support on various initiatives, e.g.
• Pilot Apprenticeship Programme for PWM
• Asian Financial Forum
• Annual Hong Kong-Swiss Financial Seminars
Note: Bank of America Merrill Lynch has sold its international wealth management business outside USA to Julius Baer in 2012. Source: GlobalData’s Wealth Management Competitor Analytics , PWMA, HKVCA, HKMA 34
Robust regulatory framework for FOs
Securities and Futures Commission (SFC) as primary securities regulator
• In general, a single family office is not required to be licensed if it is an operating unit or a wholly- owned subsidiary of the entity holding the relevant assets of the family and it is responsible for managing the relevant assets
• A strong regulatory framework for protection of investors, including family offices. Intermediaries providing dealing or advisory services to family offices are required to observe conduct requirements and other regulatory requirements
• SFC’s guidance for Corporate • SFC’s licensing guidance for Professional Investors family offices
Source: SFC
Strong legal platform
Strong confidentiality protection: Modernised trust law in 2013:
• Personal Data (Privacy) Ordinance
• Office of Privacy Commissioner for Personal Data Forced Heirship Protection Perpetual Trusts
Features in modernised
Trust Law More Enhancement Protection for of Trustee’s Beneficiaries Default Powers
Reserved Powers to the Settlor
Ideal environment for Family Office operations 35
A simple and low tax environment with various tax incentive regimes
Simple tax environment Various tax incentive regimes available, e.g.
VAT/GST/Sales tax Profits Tax Exemption for Unified Fund Capital gains tax Mutual Funds, CISs and Unit Regime Investment withholding tax Trusts No CTC Tax Estate duty Regime Profits Tax Global tax Exemption for Qualifying Debt Wine duty Instruments Offshore Fund Exemption Regime Two-tier Profits Tax Rates Regime
Low overall tax burden
Corporate Personal
11% 37%
7% 17% 20% 16% 0% VAT 5% 5% 16.5% 15% HONG KONG HONG KONG 20% 17% SINGAPORE 25% SINGAPORE 45%
SHANGHAI* SHANGHAI*
Corporate Income VAT Personal Income
Employer Social Security# Employee Social Security##
* No standard rate across China. Shanghai is used as an example. # as percentage of employee’s wage paid by the employer ## as percentage of employee’s wage paid by the employee Note: The chart of tax comparison is for illustration only. The various taxes are applied to different bases and are not additive. Where there are multiple tax rates for a type of tax, the highest tax rate is used. Source: InvestHK , 2019 World Corporate Tax Guide (EY) 36
Comprehensive Double Taxation Agreements (DTA) network
Wide coverage across Asia Unparalleled DTA Newly effective Hong Pacific and still expanding(1) arrangement with the Kong-India DTA from Mainland China April 2019
% >80 Dividends Interest(5) Royalties of APAC PE deal % % flows(2) 5/10% 7% 5/7% 5% 0/10 10 Dividends(3) Interest Royalties(4)
Cover countries with over 80% Better withholding tax rates Better withholding tax rates than of total PE deal flows in APAC than many treaty countries of many treaty countries of India in including Mainland China and Mainland China in APAC APAC India in 2019
Note: (1) Hong Kong signed DTAs with 43 jurisdictions as of 30 December 2019; (2) 5% rate applies if the beneficial owner of the dividends holds directly ≥ 25% of the capital of the company paying the dividends, otherwise 10% rate applies; (3) 5% rate applies to royalties paid to aircraft & ship leasing businesses, 7% rate applies to other royalties; (4) 0% rate applies to interest paid to HKSARG, a political subdivision or a local authority of HKSARG, HKMA and the Exchange Fund, 10% rate applies to all other cases. Source: AVCJ, EY, PwC, Deloitte
Ideal environment for Family Office operations 37
Plenty of office space options with good connection to central business district
Quality office space at much lower cost outside central business district…
2 US$ per m Average rents of Grade A offices in different districts of Hong Kong (2019)* per month 200
180 173 A reduction of cost by 70%+ 160
140 133
120 111 111
100 77 80 71
60 51
40
20
0 Central Sheung Yau Ma Tei / Wan Chai / Tsim Sha Tsui North Point / Kowloon Bay / Wan Mong Kok Causeway Quarry Bay Kwun Tong Bay Note: *Provisional figures
… new office space coming up
Energising Kowloon East: 7million m2
2 Action Areas in Kowloon Bay and Kwun Tong: 560,000 m2
Source: Rating and Valuation Department, World Cruise Terminals 38
Largest international school network among Asian cities
Strong international school presence
Wide range of schooling options
Over 10 curricula, 54 Approx. Students of including American, international more than Australian, British, schools 45,000 Canadian, French, German, primary and highest number 30 Japanese, Singaporean, secondary among Asian nationalities South Korean and the school places cities International Baccalaureate
Increasing supply of international school places
47,876 48,000 +5,000 school places in 5 years 47,000
46,000
45,000 44,331 44,000
42,890 43,000
42,000 41,287 41,000
40,000
39,000
38,000 2017 2018 2019 2020 2021 2022
Number of school places Number of students
Source: Education Bureau
Ideal environment for Family Office operations 39
Business friendly immigration policies
Admission Scheme for Mainland Talents and Professionals
• Qualified Mainland talents and professionals
• Special skills and knowledge or experience of value not readily available or in shortage locally
• Contribute to the operation of the firms and sectors concerned; facilitate economic development
Quality Migrant Admission Scheme
• Highly skilled or talented persons
• Enhance Hong Kong’s economic competitiveness
Creative Industries FinTech Professionals Dispute Resolution Asset Management Professionals Professionals & Professionals Transactional Lawyers
Waste Treatment Innovation and Data Scientists & Cyber Actuaries Specialists Technology Experts Security Specialists
Marine Engineers & Marine Insurance Naval Architects Superintendents of Ships Professionals
Source: Talent List Hong Kong, GovHK-Immigration Department 40
A liveable city with easy access globally
Easy access to the city
• National of almost 170 countries and territories may visit Hong Kong without a visa/entry permit from 7 - 180 days
Cosmopolitan lifestyle with vibrant arts, culture and events scene
• More than 90 events in 2018
• Over 15,000 restaurants ranging from local foods to international cuisine, over 60 starred restaurants in the Michelin Guide
• Over 72,000 rooms in over 200 hotels
Connection with nature
• 3 quarters of the land is countryside with popular long distance hiking trails
• 24 country parks
• 41 public beaches
Efficient health care system
• #1 in Bloomberg Health Care Efficiency Index
• 43 public hospitals and institutions, and 12 private hospitals with over 32,000 hospital beds
• 49 Specialist Out-patient Clinics and 73 General Out-patient Clinics
Source: The Hong Kong Tourism Board, The Leisure and Cultural Services Department, Agriculture, Fisheries & Conservation Department, The Immigration Department, Bloomberg, Michelin Guide, Department of Health, Hospital Authority
Ideal environment for Family Office operations 41
InvestHK’s one-stop services and support
The Department’s staff based in Hong Kong and an overseas network of staff and representatives based in 32 key business cities worldwide work seamlessly to support the set up and expansion of clients’ businesses in Hong Kong
Expansion Ongoing support on business expansion & aftercare services
Launch
Networking events, PR & marketing support for launch
Set-Up
Facilitation of visa/licensing applications, schooling, introduction of service providers
Contact
Planning Dixon Wong Head of Financial Services and Information to aid planning and Global Head of Family Office evaluation (852) 31071085 [email protected]
Dedicated Family Office Website https://www.familyoffices.hk/ 42
More information to facilitate your business set up in Hong Kong
Employment Policy Visa & Immigration
Tax Basics Company Bank Accounts
Business location
Ideal environment for Family Office operations 43
Contacts
Financial Services Hong Kong Monetary InvestHK Development Council Authority
Unit 502, 5/F, 55/F, Two International Finance 24/F, Nexxus Building, Centre, Fairmont House, No. 41 Connaught Road, Central, 8 Finance Street, 8 Cotton Tree Drive, Hong Kong Central Central
Tel: (852) 2493 1313 Tel: (852) 2878 8222 Tel: (852) 3107 1000
Email: Email: Email: [email protected] [email protected] [email protected]
Website: Website: Website: https://fsdc.org.hk/en https://www.hkma.gov.hk/eng/ https://www.investhk.gov.hk/en.html
APPENDIX 44
Overseas and Mainland Contacts of Hong Kong Government Offices
The Office of the Government Sydney of the Hong Kong Special Tel: (61) 2 9283 3222 Hong Kong Economic, [email protected] Trade and Cultural Office Administrative Region in www.hketosydney.gov.hk (Taiwan)
Beijing Tokyo Tel: (86 10) 6657 2880 Tel: (886) 2 2720 0858 [email protected] Tel: (81) 3 3556 8980 [email protected] www.bjo.gov.hk [email protected] www.hketco.hk www.hketotyo.gov.hk
Hong Kong Economic and Brussels Trade Offices (HKETOs) Tel: (32) 2 775 0088 [email protected] Mainland China www.hongkong-eu.net Guangdong Tel: (86 20) 3891 1220 London [email protected] Tel: (44) 207 499 9821 www.gdeto.gov.hk [email protected] www.hketolondon.gov.hk/ Shanghai Tel: (86 21) 6351 2233 Geneva [email protected] Tel: (41) 22 730 1300 www.sheto.gov.hk [email protected] www.hketogeneva.gov.hk Chengdu Tel: (86 28) 8676 8301 Berlin [email protected] Tel: (49 0) 30 22 66 77 228 www.cdeto.gov.hk [email protected] www.hketoberlin.gov.hk Wuhan Tel: (86 27) 6560 7300 New York [email protected] Tel: (1) 212 752 3320 www.wheto.gov.hk [email protected] www.hketony.gov.hk
Overseas San Francisco Jakarta Tel: (1) 415 835 9300 [email protected] Tel: (62) 21 8086 9730 www.hketosf.gov.hk [email protected] www.hketojakarta.gov.hk/ Washington D.C. Bangkok Tel: (1) 202 331 8947 [email protected] Tel: (66) 0 2105 6309 www.hketowashington.gov.hk [email protected]
Singapore Toronto Tel: (65) 6338 1771 Tel: (1) 416 924 5544 [email protected] [email protected] www.hketosin.gov.hk www.hketotoronto.gov.hk
The information contained in this publication is for general reference only. While every effort has been made to keep information current and accurate, Financial Services Development Council, Hong Kong Monetary Authority and Invest Hong Kong are not liable for any errors in, omissions from, or misstatements or misrepresentations (whether express or implied) concerning any such information, and does not have or accept any liability, obligation and responsibility whatsoever for any loss, destruction or damage (including without limitation consequential loss, destruction or damage) however arising from or in respect of any use or misuse of or reliance on the information. You are responsible for making your own assessment of all information contained in this publication and shall verify such information by making reference and obtaining independent advice before acting upon it. There is no implied endorsement of any material or recommendation of a company or service provider over another.