The Asian Family Legacy Foundation, with 120 family office members, will use Hong Kong as a hub for philanthropy, education, and cultural preservation, said Chairman Michael Zhu. Founded in January, the foundation held its inauguration Wednesday at the St Regis Hong Kong hotel. Zhu praised Hong Kong’s vibrancy and suitability for family offices to collaborate on charitable and cultural missions. Zhu, experienced in New York investments, sees potential in Asia due to the region’s growing family offices. The foundation will support networking, fundraising, and projects in education and heritage protection. Recent tax incentives and residency programmes have made Hong Kong attractive for family offices. The city aims to have 200 large family offices by 2025, and InvestHK has already helped establish 64 family offices, with 130 more planning to set up.