Hong Kong plans to expand family office tax relief to include virtual assets and other areas

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According to ChainCatcher, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that the number of family offices established in Hong Kong is expected to exceed 3,000 in the short term, with over 2,700 family offices already set up. He revealed that the authorities are planning to expand the tax-exempt investment scope for family offices, including private lending, virtual assets, and carbon credits, with the goal of implementing related regulations by April 1, 2025.

Christopher Hui pointed out that despite the increasingly complex global geopolitical environment, Hong Kong has attracted numerous investors through 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 between 2027 and 2028.

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