Hong Kong Treasury Department: Plans to expand tax incentives for family offices and funds.

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, said in an interview that the Hong Kong government plans to expand tax incentives for family offices and funds to cover a wider range of asset classes. The proposed asset classes include digital assets, precious metals, and private credit. The government also proposed legislation to provide tax incentives for corporate treasury management if companies wish to conduct internal cash management through Hong Kong. Hui expects legislation approving tax incentives for family offices to be passed earlier this year and plans to soon submit proposals for approval regarding corporate management. As the conflict in the Middle East has not subsided, Hui stated that the Hong Kong government will still welcome guests from the region at the "Wealth of the Pearl River Delta" forum this week. He mentioned an increasing interest from Middle Eastern family offices. He also noted that a family office from Morocco has expressed interest in expanding its business in Hong Kong. Through the Hong Kong Trade Development Council, approximately 156 family offices have indicated plans to establish or expand operations in Hong Kong.