2024 07 12 – SINGLE FAMILY OFFICES: SINGAPORE AND HONG KONG CAN EXPLORE JOINING FORCES TO COURT SUPER RICH, SAY EXPERTS

Executive Summary:

Singapore and Hong Kong, traditionally seen as rivals for family office business, could benefit from greater collaboration, according to experts. Family offices often manage assets across multiple locations, and Singapore and Hong Kong are key hubs for these entities. Singapore offers a gateway to Southeast Asia, while Hong Kong is favored for its proximity to China and favorable tax environment.

Collaboration could enhance co-investment opportunities, especially in sectors like art collection and philanthropy, where both cities have strengths. Joint efforts could also help nurture talent and address challenges such as the younger generation’s disinterest in joining family businesses.