I. Trends Behind the Data: Simultaneous Expansion of Family Office Growth and the Philanthropic Ecosystem

This transformation is not an empty slogan. According to an address delivered by Eric Chan Kwok-ki, Chief Secretary for Administration of the Government of the Hong Kong Special Administrative Region, at the September 2026 Hong Kong International Philanthropy Forum, the number of single-family offices in Hong Kong has reached 3,384—an increase of over 25% compared to two years ago, with roughly half led by second-generation members. Meanwhile, the total number of tax-exempt charitable institutions across the city has surpassed 11,000, and total donations made by citizens and corporations to eligible charities exceeded US$1.5 billion in the 2024/25 tax year.

The significance of these figures lies perhaps not in the scale itself, but in the trend they reveal: a growing number of families are choosing Hong Kong as the convergence point for wealth succession and philanthropic layout. Behind this choice lie Hong Kong's comprehensive advantages in its legal environment, financial system, and tax arrangements.

II. Institutional Foundations: What Hong Kong Offers Family Philanthropy

From an institutional perspective, the support Hong Kong provides for family philanthropy is concrete and clear. Under Section 88 of the Inland Revenue Ordinance (Cap. 112) of Hong Kong, qualifying charitable institutions are exempt from profits tax, and approved charitable donations made by taxpayers to tax-exempt charities can be deducted from assessable profits or income under relevant conditions.

Furthermore, under the current tax concession regime for family-owned investment holding vehicles, tax-exempt charities are permitted to hold up to a 25% beneficial interest in qualifying single-family offices and their family-owned investment holding vehicles. These institutional arrangements provide a relatively flexible framework for the allocation of philanthropic funds.

However, institutional advantages are only the starting point. The true value of family philanthropy is often reflected in how it is embedded within a family's governance structure and intergenerational transmission. It is worth noting that while institutions provide the framework, whether family philanthropy can truly unite the family often depends on deeper-level designs: whether the boundaries between private wealth and public-benefit assets are clear, whether decision-making mechanisms are sound, and whether pathways for intergenerational participation are smooth. If these arrangements are not sorted out early on, good intentions may generate division across generations.

Ⅲ. The Multiple Values of Philanthropy: From Uniting the Family to Connecting Generations

Naturally, the value of family philanthropy extends far beyond wealth arrangements alone.From a more proactive perspective, philanthropy can serve as a tangible carrier of family values, allowing abstract family ethos to be presented and inherited through concrete social participation. For cross-border families, a philanthropic structure established in Hong Kong can also serve as a cross-regional and intergenerational binding tie, providing scattered family members with opportunities to regularly gather and deliberate together.

Ⅳ. Hong Kong's Role: From "Gathering Wealth" to "Gathering Hearts"

In recent years, the HKSAR Government has also made numerous institutional explorations in promoting the synergistic development of family offices and philanthropy. The Impact Link platform launched by the Hong Kong Academy for Wealth Legacy aims to provide family philanthropists with channels for philanthropic project matching and knowledge sharing. A research report published by the Hong Kong Academy of Finance also indicates an upward trajectory in the willingness of surveyed family offices to participate in philanthropy and impact investing.

From "gathering wealth" to "gathering hearts," the core of the transformation Hong Kong is currently undergoing lies perhaps not in the height of data metrics, but in a deepening of cognition: the true appeal of a city lies not merely in how much capital it can retain, but in whether it can endow wealth with meaning that transcends numbers. When wealth and goodwill meet at the same round table, legacy gains the possibility of lasting endurance.

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