Hong Kong plans to expand the tax exemption scope for family offices to include areas such as virtual assets

ChainCatcher news, according to a report by the Hong Kong Economic Journal, the Secretary for Financial Services and the Treasury, Christopher Hui, stated that the number of family offices settling in Hong Kong is expected to exceed 3,000 in the short term, with over 2,700 family offices already established. He revealed that the authorities are planning to expand the investment scope eligible for tax exemptions for family offices, including areas such as private lending, virtual assets, and carbon credits, with the goal of implementing the relevant regulations by April 1, 2025.

Christopher Hui pointed out that despite the increasingly complex global geopolitical environment, Hong Kong has attracted a large number of investors due to its stable regulation and predictability. He also mentioned that Hong Kong is striving to become the world's largest cross-border wealth management center, with the expectation of achieving this goal by 2027 to 2028.