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Episode 6:Comprehensive Tax Regulations
2023-05-07
A fully functional family office was not built in a day, and it is essential to have a full set of comprehensive systems and tax regulations in place. Hong Kong boasts an unrivalled business environment where enterprises and individuals enjoy simple and transparent taxation, and investors are offered various tax concessions.
Mr. John WONG is a partner in an international accounting firm, and the head of private wealth services in Mainland China and Hong Kong. As a tax expert, he has unique insights into wealth succession and the development of family offices in Hong Kong.
Mr. John WONG is a partner in an international accounting firm, and the head of private wealth services in Mainland China and Hong Kong. As a tax expert, he has unique insights into wealth succession and the development of family offices in Hong Kong.
Hong Kong is an international financial centre and a place where wealth is concentrated. With its strengths in banking, capital markets and asset management, Hong Kong can provide investors, financiers, asset managers, funds and financial institutions around the world with all-round and high-quality financial platform.
In recent years, the trend of using “family office” as a way of family inheritance has become more and more popular in many family enterprises around the world. Family offices are private wealth management companies established by ultra-high-net-worth individuals, and they are responsible for the daily management of family assets. Growing Hong Kong into a hub for family offices is a critical growth direction, and the enormous asset managed by family offices would also be diverted towards various investment projects. In the long term, the capital flow would be favourable for fostering the development of various financial ecologies, which would benefit the Hong Kong economy at large.
In recent years, the trend of using “family office” as a way of family inheritance has become more and more popular in many family enterprises around the world. Family offices are private wealth management companies established by ultra-high-net-worth individuals, and they are responsible for the daily management of family assets. Growing Hong Kong into a hub for family offices is a critical growth direction, and the enormous asset managed by family offices would also be diverted towards various investment projects. In the long term, the capital flow would be favourable for fostering the development of various financial ecologies, which would benefit the Hong Kong economy at large.