Hong Kong, with its unique advantages in these aspects, is continuing to develop the family office market and becoming a preferred destination for high net worth individuals. According to Altrata's latest "World Super Rich Report ", Hong Kong is a gathering place for super rich people not only in Asia but also in the world, with more than 12,500 ultrahigh net worth individuals, ranking second only to the world's first city.
In addition, Hong Kong has more than 2,700 single family offices, making it the largest asset and wealth management center in Asia and the second largest in the world. According to BCG's "2023 Global Wealth Report", Hong italy phone number list Kong is the largest crossborder wealth management center in Asia, ranking second only to Switzerland in the world. It is expected that Hong Kong will surpass Switzerland in 2027 to become the world's number one crossborder wealth management center.
The positive development trends currently demonstrated by Hong Kong further highlight its potential. Through continuous innovation in financial technology, tax incentives, and investment in professional educational resources, Hong Kong is continuing to consolidate its position as a leading global financial center and provides a development environment full of opportunities for family offices. These factors work together to make Hong Kong an ideal place for high net worth individuals to set up family offices.