For families whose wealth has been built over generations, the questions that matter most are rarely about the next quarter, but the next century. How does a family business continue to grow while the family itself expands, disperses and evolves? How can they ensure that capital passed on not merely intact, but with purpose? And, in Asia, a region that now accounts for a growing share of global growth, where can a family anchor the next chapter of a much longer story? Across the world, more and more are arriving at the same answer: Hong Kong. The reasons are practical. Common law, free capital flows and depth of professional expertise—the ingredients Western principals recognise from home—sit here alongside a direct line into Asia's growth. For families whose considerations span generations, this combination is what turns a jurisdiction into a hub.
When the enterprise and the family office are intertwined
As family businesses expand, the professional management of their assets becomes a necessity. The relationship between a business and its family office, where continuity is engineered, is paramount. When strategically integrated, the latter supports the enterprise in capital allocation, governance and risk management, ensuring that business growth remains aligned with long-term family objectives. This evolving role of the family office—from traditional wealth stewardship into strategic capital management at the heart of the enterprise—is the essence of Hong Kong’s “Family Office 2.0” initiative, designed to attract high-net-worth individuals to the city. For old-money families whose wealth is rooted in manufacturing, real estate or generational business holdings, there is no need to relocate factories, machinery or capital to benefit from “Family Office 2.0”. Instead, Hong Kong functions as a bridge. Through the city's financial, legal and regulatory infrastructure, families can connect their existing businesses and family offices directly to the opportunities unfolding across Asia, without uprooting what they have already built. This allows them to utilise Hong Kong as a regional centre to manage their businesses and assets across jurisdictions.
A new generation showing same values
As more next-generation leaders step into positions of influence, they bring with them a new wave of innovation and strategic thinking, drawn to emerging sectors and new investment frontiers. At the same time, some remain committed to preserving the family DNA, with leadership development, robust governance, shared values and impact investing becoming the pillars of the modern family enterprise.
This is where legacy reveals its true meaning. With its deeply rooted history of family wealth and its extensive professional ecosystem, Hong Kong offers precisely the environment in which this acumen can mature. Maximilian Kaufmann, representative of major shareholder of Leica Camera AG, views the city as a natural springboard for family-run heritage brands. “Having grown up inside Leica and learning from a father who always shouldered responsibility, I see Hong Kong as the place where tradition and entrepreneurship can thrive side by side,” he said. “There is a certain environment and institutions trying to produce a network or a connectivity to find people to connect with, to talk about all these things like family governance and family legacy in Hong Kong. And I think that is a great environment to start a family office.”
There is a certain environment and institutions trying to produce a network or a connectivity to find people to connect with, to talk about all these things like family governance and family legacy in Hong Kong. And I think that is a great environment to start a family office.
Maximilian Kaufmann, Major shareholder, Leica Camera AG
A life, not just a location
The global tax landscape is undergoing significant transformation. With inheritance taxes rising and capital gains taxes expanding, the wealth accumulated by families may not pass intactly to the next generation. However, Hong Kong’s free flow of capital, absence of exchange controls and low tax regime allow families to structure investments efficiently and preserve what they have worked generations to build. For those whose portfolios are increasingly weighted towards venture capital, life sciences and frontier technology, the city also provides a compelling gateway to the region's most vibrant sectors. Situated next to Shenzhen, home to some of the world's most innovative enterprises, Hong Kong places families at the doorstep of Asia's most dynamic innovation cluster while remaining only a short flight from most regional capitals.
Born in Germany and raised in Montreal, Allan Zeman moved permanently to Hong Kong in 1975—and has never looked back. Now the chairman of Lan Kwai Fong Group, he believes that "Hong Kong is the kind of place where you can have a dream at night, wake up the next morning and make it a reality. Everybody was encouraged to find a solution to do business. And the more you live here, the more it really grows on you.” Above all, as a city where East meets West is a daily reality, Hong Kong offers something that no balance sheet can capture. A Sunday morning spent on the Dragon's Back trail offers dual views of the South China Sea glittering below and the skyline of one of the world's great financial centres just beyond the ridge. Within the hour, one can descend from the trail for dim sum, meet a consultant over coffee, and collect their children from an established international school.
For global families, Hong Kong is not merely a place to park assets, but to raise the next generation, connect with frontier opportunity, sustain family values and to write the next chapter of a family story that may span generations—a rare and valuable proposition in a world short on certainty.