Hong Kong’s 2025-26 budget proposes enhanced tax incentives for single-family offices, expanding eligible assets for preferential tax treatment to include overseas real estate, carbon credits, insurance-linked securities, private credit investments, and virtual assets. The budget also introduces tax deductions for intellectual property-related expenditures, including licensing fees and purchases from associates. Additionally, the reforms extend the 8.25% tax concession to commodity traders in maritime business and offer tax deductions for ship acquisition costs under operating leases. The measures aim to attract family offices, private equity funds, and multinational enterprises by refining Hong Kong’s tax regime. As the city strengthens its position as a financial hub, industry players will closely monitor the implementation of these incentives to assess their impact on capital management and investment strategies.