New research from the accounting firm Deloitte indicates that a large number of single-family offices (SFOs) based in Hong Kong are planning to increase their capital exposure in the territory. This comes amid a notable surge in the sector, suggesting a broader trend of global wealth consolidation in the Asian financial hub.
The research, reported by Hong Kong’s public broadcaster RTHK, found that by the end of 2025, Hong Kong hosted 3,384 SFOs, representing a substantial growth of 25 percent in just two years. These SFOs are private entities dedicated to managing the investments, succession planning, and philanthropic activities for a single affluent individual or family.
Anthony Lau, Deloitte Private’s leader for Hong Kong, noted that while most of the new SFOs hail from the mainland and Hong Kong, the city is also attracting considerable interest from prosperous regions worldwide. He specifically mentioned that high-net-worth individuals from Europe, the rest of the Asia-Pacific, the US, and the Middle East are choosing Hong Kong to establish their offices, a trend buoyed by various governmental initiatives, including the Go Global programme.
Roy Phan, Deloitte China’s Hong Kong international tax partner, observed that SFOs are pivoting to focus on Hong Kong as a strategic theme in response to global financial market instability. Some 60 percent of the SFOs surveyed indicated an intention to increase their exposure in the Special Administrative Region over the next three years, partly due to the city’s vibrant stock and initial public offering market. In contrast, 19 percent reported plans to decrease their exposure to the US.
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In terms of investment allocation, approximately 26 percent of SFOs are targeting increased exposure to the mainland, driven by the expansion of the country’s tech sector. Phan highlighted that the AI and data science industry is a prominent area, with 60 percent of respondents planning to invest in it. Furthermore, 40 percent of respondents would boost investments in life and health technology, fintech, and the advanced manufacturing and new energy sectors.
In a statement, Hong Kong’s financial secretary Christopher Hui said that the city offers a predictable and high-potential business environment, benefiting from being “backed by the motherland and connected to the world.” The government plans to continue supporting the sector’s expansion with measures such as tax benefits and the introduction of the New Capital Investment Entrant Scheme, he said.
The study also quantified the economic impact of SFOs, finding that they contribute approximately HK$12.6 billion (US$1.62 billion) to the city’s economy annually through operating expenditure alone, while employing over 10,000 full-time professionals.
The research, which was commissioned by InvestHK, the government’s promotion arm, included surveys with 136 market participants, comprising 85 SFOs and 36 multi-family offices, conducted between October and December.
