Hong Kong Family Offices to Get Tax Concessions in Revamp
Hong Kong is trying to convince more family offices - the organizations set up by the super-rich to handle their lives and finances - to open shop in the city.
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Hong Kong’s government will cut taxes for family offices as part of measures aimed at attracting the world’s wealthiest families to open or expand their presence in the city.
Tax exemptions on profits will be given to family-owned investment holding vehicles, according to a statement from the government Friday. They’ll be part of a range of measures to boost the competitive environment, the government said.