Hong Kong's Financial Secretary told a wealth management summit on 5 November 2026 that the city now hosts more than 3,300 single family offices, up 25% in two years, and that a bill to enhance tax regimes for funds, family offices and carried interest is targeted for passage by end-2026.

TL;DR

  • Paul Chan said Hong Kong has over 3,300 single family offices, up 25% in two years.
  • About 4,300 applications have been received under the Capital Investment Entrant Scheme, with an expected HK$150 billion in investment, according to his speech.
  • The government aims to pass the tax-regime bill by the end of 2026, and Chan flagged a coming generational wealth transfer.

Hong Kong's Financial Secretary, Paul Chan, used the PWMA Wealth Management Summit 2026 on 5 November to set out how far the city's family office push has come. Per the government speech carried by Bastille Post, the number of single family offices has passed 3,300, a 25% rise in two years. The Standard also reported the figures.

What numbers did the Financial Secretary give?

Chan said assets under management in Hong Kong's asset and wealth management business rose 20% to over HK$42 trillion, citing a July survey by the Securities and Futures Commission. He said bank deposits grew 7.7% to HK$20.9 trillion and that this year's IPO fundraising reached a record HK$388 billion. On the investor-visa route, he said about 4,300 applications had been received under the Capital Investment Entrant Scheme (CIES), representing an expected HK$150 billion of investment.

One caution on the headline count: an earlier government release from February 2026, citing a Deloitte study, put the number of single family offices at more than 3,380 at the end of 2025. The two figures are not defined identically in the sources we reviewed, so treat them as indicative rather than a precise census.

What is the tax bill and when could it pass?

Chan said the government aims to pass a bill enhancing tax regimes for funds, single family offices and carried interest by the end of this year. Law firm summaries describe it as the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026. Our companion piece on Alt Asset Asia covers the fund-manager side: https://altassetasia.com/hong-kong-aims-to-pass-fund-and-carried-interest-tax-bill-by-end-2026-what-apac-fund-managers-and-allocators-should-ask/

Why does the wealth transfer comment matter to families?

Chan told wealth managers to prepare for what he called a historic generational wealth transfer, and said investor interest is broadening beyond traditional assets to collectibles, art, wine, carbon credits and green and impact investments. For families, that places succession planning, governance and asset-class diversification on the same agenda as tax. Earlier coverage here looked at the city's plan to widen concessions: https://asiafamilyofficehub.com/hong-kong-targets-220-more-family-offices-by-2028-as-it-widens-tax-concessions-to-new-asset-classes/ and at the Singapore comparison: https://asiafamilyofficehub.com/are-family-offices-moving-from-singapore-to-hong-kong-what-mas-deloitte-and-beijings-trust-tax-rules-show/

What is not confirmed?

The bill has not yet passed, and "aim to pass by end-2026" is a target, not a guarantee. The speech gives no breakdown of how many of the 3,300 offices are new arrivals versus relabelled existing structures, and we have not seen the full speech text on the government site, only the press-release version carried by Bastille Post. The HK$150 billion CIES figure is an expected amount, not money confirmed as invested.

Frequently Asked Questions

How many single family offices are in Hong Kong?

The Financial Secretary said more than 3,300 on 5 November 2026, up 25% in two years. A February 2026 government release citing Deloitte gave more than 3,380 for end-2025, so counts differ by source.

Has Hong Kong's family office tax bill become law?

No. The government says it aims to pass the bill by the end of 2026. It was introduced to the Legislative Council in June 2026 according to law firm summaries.

What is the Capital Investment Entrant Scheme?

It is Hong Kong's investment-based residency route. Chan said about 4,300 applications had been received, with an expected HK$150 billion of investment. This is general information, not tax, legal or immigration advice, and families should consult qualified advisers.

Sources and Method

Sources: Bastille Post (HKSAR government press release, Financial Secretary speech, 5 Nov 2026); The Standard (Zhou Yiru); FSTB and InvestHK release, Feb 2026; Baker McKenzie and DLA Piper bill summaries, Jul 2026. Figures are as stated in the speech; we did not independently audit them. Photo: Central Government Complex, Hong Kong, via Wikimedia Commons (CC0).