Across Europe, many UHNW families are beginning to look beyond familiar markets. Slower growth and increased uncertainty are leading them to reconsider where capital is best placed, particularly with future generations in mind. It should then come as no surprise that Asia is increasingly part of that conversation, as it offers access to expanding industries and deeper pools of opportunity – and, for many families, Hong Kong has become a practical starting point for entering the region’s capital markets.
Hong Kong’s position as an international wealth hub continues to advance as the city further establishes itself as one of the key financial hubs worldwide. Among the reasons the city attracts family offices and global investors is its dynamic capital market, which offers record-breaking IPO activity and broad access to international investment opportunities – making it not only the best hub for preserving wealth, but also an appealing platform for growth and investment.
This momentum has been especially evident over the past year. In the first eleven months of 2025, the city recorded over 90 initial public offerings (IPOs) that raised over US$33 billion. This made the city the top fundraising hub globally and marked the second highest half-year fundraising total in the past decade. By the end of the third quarter, activity had continued to accelerate, with almost 300 active IPO applications in the pipeline (excluding confidential filings), which is only setting new benchmarks for the market.
For European families seeking diversified exposure beyond their home markets, this level of activity offers both liquidity and scale. But Hong Kong’s appeal extends even beyond local investors. Around two-thirds of cornerstone investors for these IPOs are foreign, which reflects strong international confidence in the city’s markets. Major listings, including CATL and Hengrui Pharmaceuticals, have drawn participation from international investors such as the Kuwait Investment Authority and Oaktree Capital, highlighting even further Hong Kong’s influence as a truly international financial hub. Investors who have already invested in the IPO stock market have seen their wealth rapidly increase during this market momentum.
Related
New energy and tech investment
UHNW families are beginning to realise that traditional investment methods no longer support their long-term, stable growth in today’s evolving landscape. Instead, it is emerging technologies that offer greater vitality and potential. Once families begin exploring Asia, many are drawn in by the region’s leadership in sectors such as new energy, technology and innovation.
And Hong Kong is, in fact, also emerging as a strong base for investment in new energy, technology and innovation.
A key part of this appeal lies in the city’s role as a connector between global capital and fast-growing Asian innovation.
Firstly, the city’s fintech sector has made notable gains. The Global Financial Centres Index 38, published in September 2025 by Z/Yen and the China Development Institute, showed that the city maintained third place globally (first in the Asia Pacific region). Hong Kong’s ranking in fintech offerings also jumped from fourth to first in the world.
Content from our partners
But even beyond fintech, investors are finding opportunities across a wide range of emerging industries. Other areas of innovation that give family offices and investors opportunities in some of the fastest-growing sectors are picking up pace in Hong Kong. The city is building out stablecoin frameworks and developing initiatives in artificial intelligence, while its life sciences and biotech ecosystem provides the support early-stage companies need to bring their ideas to life.
As the director of Bernina Bioinvest, a private investment company focused on early-stage biotech and medtech, Dr Bettina Ernst, notes: ‘Hong Kong’s growing life sciences ecosystem – combining academic research, clinical networks and capital – makes it a compelling base for early-stage biotech and medtech innovation.’ The city’s ‘regional connectivity and regulatory openness create practical pathways from laboratory ideas to clinical and commercial milestones’, she says, while ‘access to universities, clinicians, and cross-border collaborators helps accelerate validation and scale, which is essential for translating science into patient impact.’
Geography strengthens this proposition even further. Being close to China’s key innovation hubs gives Hong Kong an additional edge. Shenzhen is home to top tech firms such as Huawei, ZTE and Tencent, and the Greater Bay Area is rapidly emerging as a major centre for technological growth. At the same time, leading Chinese companies such as Alibaba, Tencent and Xiaomi have listed in Hong Kong, which contributes to linking the city directly to the mainland’s tech industry.
Tax concessions
Once an investment direction is clear and the intention to invest has been established, families can face a series of practical considerations, and taxation is often at the top of the list. For European UHNW families, this issue has only become more pressing as tax rates rise across many jurisdictions, including the UK. Even conventionally low-tax environments, such as Dubai, have begun introducing higher taxes, which is prompting families to reassess where their structures are best based.
Hong Kong’s tax framework is designed to offer peace of mind for wealth management in family offices, as well as encouraging long-term strategies – which allows them to preserve and expand wealth across generations. In 2023 the city introduced a concession for single family offices, giving eligible family-owned investment vehicles a zero per cent profits tax rate. At the same time, the absence of capital gains tax, inheritance or estate taxes, sales tax, VAT and withholding taxes on dividends or interest allows investors to reinvest and grow their wealth without common hurdles seen in other markets.
For families focused on intergenerational planning, this clarity and predictability can be just as important as returns themselves.
Exceptional quality of life
Of course, capital and regulation are only part of the equation. For families relocating principals, next-gen members or entire family office teams, lifestyle considerations play a crucial role in long-term commitment.
The city offers low crime, good healthcare and a range of international schools, making it practical for families. Established expat communities, a lively cultural scene and plenty of leisure options make Hong Kong not just a financial centre, but a place where families can live and work comfortably over the long term.
Hong Kong’s exclusive residential enclaves harmonise curated spaciousness and serene seclusion, epitomizing the zenith of contemporary luxury living. These prestigious residential areas are conveniently located near financial districts, private clubs, and cultural landmarks, enabling ultra-high-net-worth families to seamlessly balance work, leisure, and family life.
Dining options range from renowned traditional restaurants to contemporary international venues, often featuring private salons, curated wine pairings and meticulously crafted tasting menus.
The bar scene is equally impressive. With Hong Kong’s bars ranking among The World’s 50 Best Bars in 2025, the city’s wine and cocktail culture rivals its exceptional culinary achievements.
Born in Germany and raised in Montreal, Allan Zeman, chairman of Lan Kwai Fong Group, moved permanently to Hong Kong, notes, ‘Hong Kong offers global families an unrivalled combination: direct access to China’s vast opportunities, a market of 1.4 billion consumers, a sophisticated wealth management ecosystem within a trusted common law framework, a highly favourable tax regime and an exceptional quality of life, which is very safe for bringing up families.’
