Hong Kong aims to strengthen its position as a global family office hub, targeting at least 200 family offices by the end of 2025, the Financial Services and the Treasury Bureau said in a policy statement. The initiative seeks to enhance the city’s asset and wealth management industry while supporting green finance, arts, and philanthropy. Measures include tax exemptions for family-owned investment vehicles, a new Capital Investment Entrant Scheme to attract global wealth and streamlined regulatory processes for family offices. Plans also involve creating a network of service providers, promoting philanthropic activities, and establishing the Hong Kong Academy for Wealth Legacy. These efforts align with the government’s vision of fostering a vibrant ecosystem for ultra-high-net-worth investors, further solidifying Hong Kong's role as a leading international financial center.