Hong Kong's government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules.
A revamped investment migration scheme, new tax concessions and incentives such as art storage facilities at the city's international airport will be part of the offerings for family offices in the Chinese special administrative region, the government said in a statement.
"The policy statement demonstrates our determination to develop Hong Kong into a leading global family office hub," Paul Chan, the city's financial secretary said. City leader John Lee said last year that he had set a target of attracting 200 large family offices to set up in Hong Kong by 2025.
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