Hong Kong attracts family offices with low taxes and services

Hong Kong is proving to be an attractive location for family offices and global investors. Its low taxes, strong education, and healthcare systems are key reasons why many are choosing to settle there. This was highlighted by Oliver Weisberg, CEO of Blue Pool Capital, during the Milken Global Investor Symposium held in Hong Kong on Monday. Weisberg noted that Hong Kong's active capital market and connection to the Greater Bay Area set it apart from other regional hubs like Singapore and Tokyo. He believes the city should host more events to showcase its advantages. He emphasized that the quality of life and talent available in Hong Kong make it a preferred choice for many professionals. Weisberg, who has lived in Hong Kong for 30 years, shared his personal experience of choosing the city when he began working with Joe Tsai, the chairman of Alibaba Group. This week, Hong Kong is busy with several investment conferences. Notable events include the HSBC Global Investors Summit and the Wealth for Good event organized by the Hong Kong government. The World Economic Forum is also collaborating with the local stock exchange for a symposium. Looking ahead, Financial Secretary Paul Chan announced plans for more significant events, including the first Hong Kong Global Financial and Industry Summit in June. This summit aims to attract hundreds of global companies, tech firms, and investment funds.