Family Office Association Hong Kong (“FOAHK“) was founded in November 2020. They advocate for the concerns of family offices and foster community engagement among members, authorities, and other professional groups in Hong Kong and around the world as a consulting industry association. They are devoted to sustaining the family office industry’s finest industry standards and regulations by offering standard guidelines.
Their primary goal is to promote cooperation and interaction among members, authorities, and other relevant parties in Hong Kong and around the world, serve as a consulting body for buy-side family offices and key industry stakeholders in Hong Kong and around the world, support the objectives of buy-side family offices, maintain the highest industry standards in your field, provide family offices and specific industry bodies with professional education and best family office solutions.
The Family Office Association of Hong Kong (FOAHK) portrays itself as the city’s first autonomous industry organization of its kind. They recently conducted a poll to gather the perspectives of professionals from various industries on the state of the Hong Kong family office business and their perspectives on key issues of the industry’s development.
The Sum Up
The top three factors identified by survey participants as driving Hong Kong’s development as a global family workplace hot spot are a well-defined set of regulations for family office business, a favorable tax regime, and experts with the skills and abilities to address the needs of family offices.