2021.04_HK_A Leading Hub for Family Offices_en.pdf

3

Why Hong Kong

A leading private wealth management (PWM) hub in Asia

Ideal environment for Family Office operations

Premier international asset management centre

Regional centre for philanathropy and sustainable finance

P.4

P.12

P.24

P.28

01A leading hub in Asia, serving the burgeoning PWM market

5

Why set up Family Offices?

Family wealth protection

Clarifying governance over how the family stewards its wealth

Improving family cohesion and generational transition

Managing the personal affairs of family members

Managing investment risk

Family Office (FO) is more than just wealth management

Only around half of the FOs have succession plans

Source: PWC Family Office Services, The UBS/ Campden Wealth Global Family Office Report 2019

Asia Pacific

Europe

North America

Succession plan in place Succession plan not in place

49%

54%

48%

51%

46%

52%

6

A leading hub in Asia, serving the burgeoning PWM market

In 2019, a survey conducted by UBS and Campden Wealth suggested that:

• Over two-thirds (68%) were only founded in 2000 or later

• Just over 10% were founded before 1970s

FO is gaining popularity among ultra-high-net-worth individuals (UHNWIs)

Source: The UBS/ Campden Wealth Global Family Office Report 2019

1st Gen

70%

60%

50%

40%

30%

20%

10%

0%

Most families with an FO have up to 3 generations only.

53%61%

48%

25%

12%5% 4%

1%

2nd Gen 3rd Gen 4th Gen 5th Gen 6th Gen 7th Gen Don’t know

Generations the FO has served (now or in the past)

7

Strong growth in Asia-Pacific HNWIs population and financial wealth

Number of HNWIs by region

1

0

2

3

4

5

6

7

million

2010

2010

Asia-Pacific North America Europe

HNWIs financial wealth by region

5

0

10

15

20

25

Asia-Pacific North America Europe

Note: HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.Source: Capgemini Financial Services Analysis, 2018, 2019, 2020

10.8

3.33.4

3.1

6.5

2019

2019

6.3

5.2

22.2

11.6

21.7

10.2

16.7

US$ trillion

8


Greater China is the key wealth creation region in Asia

Source: Fung Business Intelligence, China Council for the Promotion of International Trade, Hurun Wealth Report in Nov 2019

Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as the largest bay area in the world, has huge growth potential

San Francisco Bay Area New York City GBA Greater Tokyo Area

GDP(US$ trn) 0.8 1.7 1.5 1.8

Area(sq.km) 17,900 783 56,000 36,800

Population(mn) 7.6 8.6 70.0 43.8

1 2

34

1 2 3 4

9

GBA contributes to the strong wealth growth momentum in Greater China

Note: UHNW family is defined as family with assets over US$30 million.

• 19,300+ UHNW families are in the GBA (>1/5 of the entire Greater China)

UHNW families in the GBA

19,300+>1/5 ofGreaterChina

• 84,000+ UHNW families in Greater China, increasing by around 20% in the past 3 years

UHNW families in Greater China

84,000+

+20%

10


Source: Asset and Wealth Management Activities Surveys (SFC) 2019, Hong Kong Private Wealth Management Report 2019 (KPMG & PWMA)

Note: From 2017 onward, the scope was extended to cover the total assets under private banking and private wealth management clients’ accounts generated, managed or served by Hong Kong relationship managers of licensed corporations and registered institutions which are part of a larger banking group, or for which the relationship managers are accountable. In previous years, the figures include the private banking business of registered institutions and private client funds of licensed corporations and registered institutions.

Hong Kong is at the centre of Asia’s burgeoning PWM market

Total assets of the private banking and PWM business in Hong Kong

2014

1,200

1,000

800

600

400

200

0

Sourced from outside of Hong Kong

587612

667

1,000973

1,153

50%

50%

2015 2016 2017 2018 2019

US$ billion

11

Hong Kong is Asia’s largest cross-border PWM centre; second largest globally after Switzerland

Source: Global Wealth Report 2018, 2019, 2020 (BCG), Wealth Management Competitor Analytics (Global Data), HKMA

Switzerland HongKong

Singapore US UKLuxembourg

Cross-border wealth (US$ trillion)

2.3

1.1

0.9

0.7

0.3 0.3

2.4

1.9

1.1

0.8

0.3 0.3

2017

2019

All top 15 global private wealth managers (by AUM) are present in Hong Kong

02Premier international asset management centre with great access to investment deals

13

Source: The UBS/ Campden Wealth Global Family Office Report 2019

* Include both direct investment and investment through private equity funds** Include both direct investment and investment through REITs

Bonds Equities Private equity* Real estate** Hedge funds Cash or equivalent

Average asset allocation for FOs globally

17%

33%

19%

16%

5%

7%

16%

32%

19%18%

5%

8%

2018 2019

35%

30%

25%

20%

15%

10%

5%

0%

Hong Kong is an ideal platform to serve the asset allocation needs of FOs

14

Premier international asset management centre with great access to investment deals

Leading international asset management hub

Home to 70 of top 100 global money managers

HK’s asset under management (US$ trillion)

2019

2015

2010

2005

2000 +18.5x

3.7

2.2

1.3

0.6

0.2

Number of licensed asset managers in HK

2019

2015

2010

2005

2000 +8.9x

1,808

1,135

798

475

203

Private Equity capital under management in 2019

600

500

400

300

200

100

0

US$ billion

China

Hong Kong

South

Korea

India

Japa

n

Austra

lia

Singap

ore

Malays

ia

591

160

10275 72

43 409

Source: SFC, Investment & Pensions Europe, HKMA, Asia Venture Capital Journal (AVCJ)

15

3rd largest bond centre in Asia ex-Japan

HK’s market capitalisation 2019 Asia ex-Japan bond issuance

Source: HKEX, ADB

World’s largest equity fundraising centre

1,047

2,7023,165

4,893

6,000

5,000

4,000

3,000

2,000

1,000

0

+4.7x

2005 2010 2015 2019

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

0

US$ billionUS$ billion

Mainlan

d

China

Hong K

ong

Korea

Singap

ore

Thaila

nd

3,889

739

560492

341

Asia’s deepest international capital market

16


A comprehensive banking platform

Source: HKMA

US$

billi

on

In 2019, there are over 190 Authorised Institutions in Hong Kong …

… coming from around 30 countries, including nearly 80 of the world’s top 100 banks

8 new virtual banks formed by financial and non-financial firms

Assets of HK banking industry

3,500

3,000

2,500

2,000

1,500

1,000

500

0

3.7x

2000

854

2005

929

2010

1,576

2015

2,459

2019

3,136

17

More channels to enhance financial connectivity with Mainland China

QFII

Invest in onshore equity & bond markets after opening onshore

accounts

RQFII

Extension of QFII to allow RMB

Mutual Recognition of Funds

Chinese and HK investment funds can be distributed to each other’s public after

streamlined approval

Bond Connect

International investors can trade and clear China bonds

using HK

Mainland-Hong Kong Closer Economic

Partnership Arrangement (CEPA)

Preferential trade & investment policies

Shanghai-HK Stock Connect

International investors can trade Shanghai

stocks through HKEX and Chinese investors can trade HK stocks

through SSE

Shenzhen-HK Stock Connect

Extension of Stock Connect to cover SZSE

2002

2003

2011

2014

2015

2016

2017

Going forward

Mutual access of wealth management products

(GBA)

In 2019, there are over 190 Authorised Institutions in Hong Kong …

… coming from around 30 countries, including nearly 80 of the world’s top 100 banks

8 new virtual banks formed by financial and non-financial firms

18


Greater China market dominates Asia Pacific private equity (PE) deal flows

Source: AVCJ

Strong growth in Asia Pacific PE deal count and value in recent years

China (including Hong Kong) made up close to 40% of the Asia Pacific PE deal flows

2014 2015 2016 2017 2018

Asia Pacific PE Deal Flows Total Asia Pacific PE Deal Flows in 2019 (by value)

China (including

Hong Kong)39%

South Korea12%

Australia6%

Others3%

South East Asia9%

India24%

Japan7%

US$ billion

Value

Count

6,000

5,000

4,000

3,000

2,000

1,000

0

300

250

200

150

100

50

0

2019

19

Ideal platform for PE investments

Source: AVCJ, Asia-pacific Private Equity Report 2020 (Bain & Company), PEI, HKMA

Strong momentum in investment in internet/tech sector in Greater China

Home to over 500 PE and venture capital firms, including 15 of the top 20 global PE Managers

Global ranking (2019) PE Managers in Hong Kong

1 Blackstone

2 The Carlyle Group

3 KKR

4 CVC Capital Partners

5 Warburg Pincus

6 Bain Capital

7 EQT

9 Apollo Global Management

10 Neuberger Berman Group

12 TPG

15 Apax Partners

16 General Atlantic

18 Permira Advisers

19 Advent International

20 Silver Lake

Priviate equity investment deal value in Greater China

2010 11 12 13 14 15 16 17 18 19

175

125

75

25

0

2010-19growth

USD$ billion

Other sectors

Internet and technology

13.6x

1.6x

20


GBA Initiative creates an integrated financial and innovation zone around Hong Kong

Source: Constitutional and Mainland Affairs Bureau

Hong Kong will benefit from the development of GBA

Population, trade and capital flows create opportunities for payment, banking and wealth management services

Strengthen Hong Kong’s status as a global offshore RMB business hub

Enjoy mutual financial market access in the GBA

Guangdong ProvinceThe World’s Factory

Hong KongInternational Financial Center

China’s “Silicon Valley”

Shenzhen

21

Unparalleled access to GBA investment opportunities

Source: Hurun Greater China Unicorn Index 2017, 2019 Q3Note: “Unicorn” refers to a startup with at least US$1billion valuation

The number of unicorns in GBA and their valuations are growing

Mainland China supports the engagement of Hong Kong PE funds in the financing of innovation and technology enterprises in GBA

Number of Unicorns in GBA

14

33

Valuation of Unicorns in GBA

2017

2019

2017 2019 Q3

RMB

335billion

RMB614billion

+83%

22


Strong pipeline of local startup investment opportunities…

The number of startups in Hong Kong as well as their operation scale continue to grow

Total no. of startups Total no. of staff*

Source: StartmeupHK (InvestHK)

2019 20192017 20172020 20202018 2018

2,229+16%

6,320+21%

2,625+18%

9,548+51%

3,184+21%

12,478+31%

3,360+6%

10,688-14%

10,688 employees

*Employed by startups, including founders.

+51%

3,360 startups

vs 2017+69%

vs 2017

23

…covering a wide range of industries with government support

Source: StartmeupHK (InvestHK), FinTechHK (InvestHK), HKMA, GovHK-Innovation and Technology Commission

Startups covering a wide range of industries

468Financial technology (Fintech) 276

Others

315Information, computer & technology

55Biotechnology

171Education & learning 99

Smart city

E-commerce / supply chain management / logistics technology Foodtech

Data analytics Social innovation/ venture

Hardware (loT, 3-D printing, prototypes, wearables) Sustainable / green technology

357

234 67

148 140

Professional or consultancy services

Design Retail technology

Health & medical Digital entertainment and gaming

385 32

241 63

163 106

35Robotics/ smart manufacturing

InvestHKInnovation and Technology

CommissionHKMA SFC, IA Cyberport

• Cyberport Youth

• Cyberport Entrepreneurs

• Cyberport Partners

Gov

ernm

ent s

uppo

rt

Supporting Technology Startups

Promoting an I&T Culture

Supporting Research & Development

Facilitating Technology Adoption

Nurturing Technology Talent

The Innovation and Technology FundIndustry Specialists:• Business & Professional Services• Creative Industries• Consumer Products• Financial Services• FinTech• Innovation & Technology • Tourism & Hospitality• Transport & Industrial • StartmeupHK

• SFC Regulatory Sandbox

• IA InsurTech Sandbox

• The Fintech Facilitation Office

• HKMA FinTech Supervisory Sandbox

• Cyberport Youth

• Cyberport Entrepreneurs

• Cyberport Partners

Strong pipeline of local startup investment opportunities…

03Regional centre for philanthropy and sustainable finance

25

A leading regional centre for philanthropy

Impact Investing is becoming increasingly popular for FOs

Hong Kong is the centre for philanthropy with more than 15,000 charitable organisations

Top impact investments areas by FOs:

Education

Agriculture & food

Energy & resource efficiency

Health care & wellness

Source: Based on the respondents to the survey in the UBS/Campden Wealth Global Family Office Report 2019.

Source: Adapted from the Harvard/UBS Global Philanthropy Report. The figure of Hong Kong is based on data of 2016.

Note: Impact investing is defined as ‘Generating a measurable social and environmental impact alongside a financial return.’

Note: Philanthropic assets are considered assets that are held by philanthropic institutions to advance the public good. Philanthropic institutions may take different models to operate, including independent foundation, family foundation, corporate foundation, community foundation and government-linked foundation.

Netherlands

Switzerland

US

Italy

Hong Kong SAR

UK

Germany

Spain

Turkey

France

Mexico

Colombia

Australia

Canada

Chile

Ireland

South Africa

Nigeria

UAE

Peru

China

14.0

13.34.8

4.7

3.33.2

2.72.42.4

1.21.00.90.7

0.30.30.3 0.30.30.30.20.1

25%of FOs involved

in impact investing

67%of FOs expect to have

+10% of their total portfolio in impact

investing in 5 years

Phila

nthr

opic

ass

et (a

s %

of G

DP)

26

Regional centre for philanthropy and sustainable finance

Comprehensive Green Finance ecosystem in Hong Kong

Green Bond Market

• One of the world’s largest green bond markets

• US$11 billion arranged and issued in 2018

Strong Government Support

• Pilot Bond Grant Scheme

• Green Bond Grant Scheme

• HK$100 billion Government Green Bond Programme

• Enhancement of the Qualifying Debt Instrument Scheme

Stakeholders’ presence

• Internationally renowned green reviewers + local agencies

• Banks’ Debt Capital Markets and green specialists

• International institutional investors

27

The HKMA, as a bank regulator and one of the largest asset owners globally, launched three sets of measures to support and nurture green finance in May 2019

Strong support to sustainable banking and green finance from the regulator

Green and Sustainable Banking

A phased regulatory approach to promote green and sustainable developments of Hong Kong’s banking industry

Responsible Investment

HKMA’s Exchange Fund will give priority to ESG (Environmental, Social and Governance) investments if long-term risk-adjusted return is comparable to other investments

Centre for Green Finance (CGF)

Establish the CGF under the HKMA Infrastructure Financing Facilitation Office (IFFO), serving as a platform for technical support and experience sharing for the green development of the Hong Kong banking and finance industry

04Ideal environment for Family Office operations

29

A secure, autonomous, stable platform for wealth management

Monetary and financial stability well supported by a robust system

Source: HKMA

Independent legal and judicial system under “One country, two systems”

Independent monetary and economic policies

• The National constitution and the Basic Law provide for the “One country, two systems” framework

• The only place that practices common law and truly applies a bilingual system with both Chinese and English as official languages

• Ranked No. 2 in Asia in respect of the rule of law in The Worldwide Governance Indicators project of the World Bank Group

• Consistently ranked top on economic freedom and competitiveness

• Free flow of capital

• Linked exchange rate system (HKD peg to USD)

The Linked Exchange Rate System (LERS)

Free flow of capital

• Cornerstone of Hong Kong’s monetary and financial stability

• Implemented since 1983 to ensure the stability of HKD exchange rate to USD

• Backed by the Exchange Fund with foreign currency reserve assets representing around 2X of HKD monetary base

• Protected by Article 112 of Hong Kong’s Basic Law

• “No foreign exchange control policies shall be applied in the Hong Kong Special Administrative Region. The Hong Kong dollar shall be freely convertible…

• The Government of the Hong Kong Special Administrative Region shall safeguard the free flow of capital within, into and out of the Region.”

30


Unparalleled connectivity to the world

Over

1,100flights daily

Over

220destinations worldwide by 120+ airlines

71.5million

passengers handled in

2019

5 hoursfrom half the world’s population

Note: Direct flights only (excl. code share flights)

Source: InvestHK, Airport Authority Hong Kong, Google

No. of daily direct flights to & from HK Flying time (approx., hrs)

London 17 12.5

New York 10 16

Boston 2 16

San Francisco 11 12.5

Toronto 5 15

Zurich 4 12.5

Sydney 12 9

Mumbai 3 7

Dubai 8 8.5

Singapore 35 4

Moscow 2 10

31

A unique gateway to Mainland China

Cultural background and language

Best location

Policy support

Double TaxationAgreement (DTA)

• Familiar business culture

• Both English and Chinese as official language

• Most convenient access to Mainland China < 4 hours to major cities < 1 hour between Hong Kong, Macao and western coast of Pearl River Delta

• Favourable policies that foster Hong Kong’s connectivity with Mainland China

• Greater Bay Area Initiative

• Unparalleled beneficial treatment under the HK-Mainland DTA

4 hrsof flying time

Hong Kong

32


Abundant supply of professional services and talent

Source: Hong Kong Institute of Certified Public Accountants , Census and Statistics Department, The Law Society of Hong Kong, HKTDC, InvestHK, SFC, QS World University Rankings 2019, Financial Times EMBA Ranking 2018, Department of Justice, Investment & Pensions Europe, HKMA

Fund management• All of the top 20, and around 70 of the top 100

global money managers have presence in Hong Kong

• >42,000 practitioners in the asset and wealth management business

Accounting• >45,000 certified public accountants in Hong

Kong

Legal• Over half of the global 100 law firms have

presence in HK

• >13,000 practicing solicitors and barristers (incl. registered foreign lawyers from 33 jurisdictions)

Universities• 3 universities in world’s top 50 & Asia’s top 10

• 2 EMBA programmes in the world’s top 5

33

Various associations in place to support industry development, e.g.

• Private Wealth Management Association

• Hong Kong Venture Capital and Private Equity Association-Family Office Committee

Strong government and industry support to FO operations

Note: Bank of America Merrill Lynch has sold its international wealth management business outside USA to Julius Baer in 2012. Source: GlobalData’s Wealth Management Competitor Analytics , PWMA, HKVCA, HKMA

Over 40 private banks including top 15 global private wealth managers* in Hong Kong

Government support on various initiatives, e.g. • Pilot Apprenticeship Programme for PWM

• Asian Financial Forum

• Annual Hong Kong-Swiss Financial Seminars

34


Robust regulatory framework for FOs

Source: SFC

• In general, a single family office is not required to be licensed if it is an operating unit or a wholly-owned subsidiary of the entity holding the relevant assets of the family and it is responsible for managing the relevant assets

• A strong regulatory framework for protection of investors, including family offices. Intermediaries providing dealing or advisory services to family offices are required to observe conduct requirements and other regulatory requirements

Securities and Futures Commission (SFC) as primary securities regulator

Strong legal platform

• Personal Data (Privacy) Ordinance

• Office of Privacy Commissioner for Personal Data

Strong confidentiality protection:

Features in modernised Trust Law

Perpetual Trusts

Enhancement of Trustee’s

Default Powers

Reserved Powers to the Settlor

More Protection for Beneficiaries

Forced Heirship

Protection

Modernised trust law in 2013:

• SFC’s licensing guidance for family offices

• SFC’s guidance for Corporate Professional Investors

35

A simple and low tax environment with various tax incentive regimes

* No standard rate across China. Shanghai is used as an example.# as percentage of employee’s wage paid by the employer## as percentage of employee’s wage paid by the employee

Note: The chart of tax comparison is for illustration only. The various taxes are applied to different bases and are not additive. Where there are multiple tax rates for a type of tax, the highest tax rate is used.

No

Simple tax environment Various tax incentive regimes available, e.g.

Source: InvestHK , 2019 World Corporate Tax Guide (EY)

Personal

37%

17%7%

16%

17%25%

16.5%

5%0% VAT

HONG KONG

SINGAPORE

SHANGHAI*

Corporate

Corporate Income

Employer Social Security#

VAT Personal Income

Employee Social Security##

HONG KONG

SINGAPORE

SHANGHAI*

45%

20%

15%

11%

20%

5%

Low overall tax burden

VAT/GST/Sales tax

Capital gains tax

Investment withholding tax

Estate duty

Global tax

Wine duty

Profits Tax Exemption for Mutual Funds, CISs and Unit

Trusts

Offshore Fund Exemption

Regime

Two-tier Profits Tax Rates Regime

Profits Tax Exemption for

Qualifying Debt Instruments

Unified Fund Regime

CTC Tax Regime

36


Comprehensive Double Taxation Agreements (DTA) network

Wide coverage across Asia Pacific and still expanding(1)

Unparalleled DTA arrangement with the Mainland China

Newly effective Hong Kong-India DTA from April 2019

Cover countries with over 80% of total PE deal flows in APAC including Mainland China and India in 2019

Better withholding tax rates than many treaty countries of Mainland China in APAC

Better withholding tax rates than many treaty countries of India in APAC

Source: AVCJ, EY, PwC, Deloitte

Note: (1) Hong Kong signed DTAs with 43 jurisdictions as of 30 December 2019; (2) 5% rate applies if the beneficial owner of the dividends holds directly ≥ 25% of the capital of the company paying the dividends, otherwise 10% rate applies; (3) 5% rate applies to royalties paid to aircraft & ship leasing businesses, 7% rate applies to other royalties; (4) 0% rate applies to interest paid to HKSARG, a political subdivision or a local authority of HKSARG, HKMA and the Exchange Fund, 10% rate applies to all other cases.

>80%of APAC PE deal

flows(2) 5/10%Dividends(3)

7%Interest

5/7%Royalties(4)

Royalties

10%

Dividends

5%

Interest(5)

0/10%

37

Note: *Provisional figures

Source: Rating and Valuation Department, World Cruise Terminals

Quality office space at much lower cost outside central business district…

Plenty of office space options with good connection to central business district

Average rents of Grade A offices in different districts of Hong Kong (2019)*

Central

200

180

160

140

120

100

80

60

40

20

0Sheung

Wan

US$ per m2

per month

Yau Ma Tei / Mong Kok

Wan Chai / Causeway

Bay

Tsim Sha Tsui North Point / Quarry Bay

Kowloon Bay / Kwun Tong

173

133

111 111

7771

51

A reduction of cost by 70%+

… new office space coming up

Energising Kowloon East:

7million m2

2 Action Areas in Kowloon Bay and Kwun Tong: 560,000 m2

38


Source: Education Bureau

Largest international school network among Asian cities

54international

schoolshighest number

among Asian cities

Strong international school presence

Approx.

45,000primary and secondary

school places

Over 10curricula, including American, Australian, British,

Canadian, French, German, Japanese, Singaporean, South Korean and the

International Baccalaureate

Increasing supply of international school places

2017

48,000

47,000

46,000

45,000

44,000

43,000

42,000

41,000

40,000

39,000

38,0002018

Number of school places Number of students

2019 2020 2021 2022

42,890

47,876

44,331

41,287

+5,000 school places in 5 years

Wide range of schooling options

Students of more than

30 nationalities

39

• Qualified Mainland talents and professionals

• Special skills and knowledge or experience of value not readily available or in shortage locally

• Contribute to the operation of the firms and sectors concerned; facilitate economic development

Admission Scheme for Mainland Talents and Professionals

Business friendly immigration policies

• Highly skilled or talented persons

• Enhance Hong Kong’s economic competitiveness

Quality Migrant Admission Scheme

Creative Industries Professionals

Waste Treatment Specialists

Marine Engineers & Superintendents of Ships

FinTech Professionals

Innovation and Technology Experts

Marine Insurance Professionals

Dispute Resolution Professionals &

Transactional Lawyers

Data Scientists & Cyber Security Specialists

Naval Architects

Asset Management Professionals

Actuaries

Source: Talent List Hong Kong, GovHK-Immigration Department

40


Source: The Hong Kong Tourism Board, The Leisure and Cultural Services Department, Agriculture, Fisheries & Conservation Department, The Immigration Department, Bloomberg, Michelin Guide, Department of Health, Hospital Authority

A liveable city with easy access globally

Easy access to the city• National of almost 170 countries and territories

may visit Hong Kong without a visa/entry permit from 7 - 180 days

Cosmopolitan lifestyle with vibrant arts, culture and events scene• More than 90 events in 2018

• Over 15,000 restaurants ranging from local foods to international cuisine, over 60 starred restaurants in the Michelin Guide

• Over 72,000 rooms in over 200 hotels

Connection with nature• 3 quarters of the land is countryside with popular

long distance hiking trails

• 24 country parks

• 41 public beaches

Efficient health care system• #1 in Bloomberg Health Care Efficiency Index

• 43 public hospitals and institutions, and 12 private hospitals with over 32,000 hospital beds

• 49 Specialist Out-patient Clinics and 73 General Out-patient Clinics

41

InvestHK’s one-stop services and support

The Department’s staff based in Hong Kong and an overseas network of staff and representatives based in 32 key business cities worldwide work seamlessly to support the set up and expansion of clients’ businesses in Hong Kong

ExpansionOngoing support on business expansion & aftercare services

Networking events, PR& marketing support forlaunch

Launch

Facilitation of visa/licensing applications, schooling, introduction of service providers

Set-Up

Information to aid planning and evaluation

Planning

Dedicated Family Office Website https://www.familyoffices.hk/

Contact

Dixon WongHead of Financial Services and Global Head of Family Office(852) [email protected]

42


More information to facilitate your business set up in Hong Kong

Employment Policy Visa & Immigration

Tax Basics Company Bank Accounts

Business location

43

Contacts

Financial Services Development Council

Unit 502, 5/F, Nexxus Building, No. 41 Connaught Road, Central, Hong Kong

Tel: (852) 2493 1313

Email: [email protected]

Website: https://fsdc.org.hk/en

InvestHK

24/F, Fairmont House, 8 Cotton Tree Drive, Central

Tel: (852) 3107 1000


Website: https://www.investhk.gov.hk/en.html

Hong Kong Monetary Authority

55/F, Two International Finance Centre, 8 Finance Street, Central

Tel: (852) 2878 8222


Website: https://www.hkma.gov.hk/eng/

APPENDIX

The information contained in this publication is for general reference only. While every effort has been made to keep information current and accurate, Financial Services Development Council, Hong Kong Monetary Authority and Invest Hong Kong are not liable for any errors in, omissions from, or misstatements or misrepresentations (whether express or implied) concerning any such information, and does not have or accept any liability, obligation and responsibility whatsoever for any loss, destruction or damage (including without limitation consequential loss, destruction or damage) however arising from or in respect of any use or misuse of or reliance on the information. You are responsible for making your own assessment of all information contained in this publication and shall verify such information by making reference and obtaining independent advice before acting upon it. There is no implied endorsement of any material or recommendation of a company or service provider over another.

The Office of the Government of the Hong Kong Special Administrative Region in Beijing Tel: (86 10) 6657 2880 [email protected] www.bjo.gov.hk

[email protected] www.gdeto.gov.hk ShanghaiTel: (86 21) 6351 2233 [email protected] www.sheto.gov.hk ChengduTel: (86 28) 8676 8301 [email protected] www.cdeto.gov.hk WuhanTel: (86 27) 6560 7300 [email protected] www.wheto.gov.hk

Overseas Jakarta Tel: (62) 21 8086 9730 [email protected] www.hketojakarta.gov.hk/ BangkokTel: (66) 0 2105 6309 [email protected]

SingaporeTel: (65) 6338 1771 [email protected] www.hketosin.gov.hk

Hong Kong Economic, Trade and Cultural Office (Taiwan) Tel: (886) 2 2720 0858 [email protected] www.hketco.hk

Hong Kong Economic and Trade Offices (HKETOs)

Mainland China

GuangdongTel: (86 20) 3891 1220

SydneyTel: (61) 2 9283 3222 [email protected] www.hketosydney.gov.hk

TokyoTel: (81) 3 3556 8980 [email protected] www.hketotyo.gov.hk BrusselsTel: (32) 2 775 0088 [email protected] www.hongkong-eu.net LondonTel: (44) 207 499 9821 [email protected] www.hketolondon.gov.hk/

GenevaTel: (41) 22 730 1300 [email protected] www.hketogeneva.gov.hk BerlinTel: (49 0) 30 22 66 77 228 [email protected] www.hketoberlin.gov.hk New YorkTel: (1) 212 752 3320 [email protected] www.hketony.gov.hk San FranciscoTel: (1) 415 835 9300 [email protected] www.hketosf.gov.hk Washington D.C.Tel: (1) 202 331 8947 [email protected] www.hketowashington.gov.hk TorontoTel: (1) 416 924 5544 [email protected] www.hketotoronto.gov.hk

Overseas and Mainland Contacts of Hong Kong Government Offices

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