Hong Kong and Singapore are Asia’s twin family office hubs. Hong Kong benefits directly from Greater Bay Area integration; Singapore anchors Southeast Asia. This guide compares the two with sourced public data.
Key Data Comparison
| Metric | Hong Kong | Singapore |
|---|---|---|
| SFO count (2025) | 3,380+ (InvestHK / Deloitte) | About 1,400 |
| Cross-border wealth rank | World’s largest hub (BCG, 2026) | Leading SEA hub |
| Cross-border growth | 9% a year 2025–2030, first globally (BCG) | Steady growth |
| Tax incentives | Offshore fund exemptions | Mature 13O/13U schemes |
| Mainland China access | Direct (GBA integration) | Indirect |
| Language | Bilingual Chinese/English | English-first, multilingual |
Why families choose Hong Kong
Hong Kong formally overtook Switzerland in 2026 as the world’s largest cross-border wealth centre, booking about US$2.5 trillion (BCG Global Wealth Report 2026) — a milestone covered by 600+ global media reports. For families serving the mainland market, its geographic, linguistic and regulatory links are unmatched, and the 2025 Policy Address cut the CIES residential threshold from HK$50 million to HK$30 million.
Why families choose Singapore
Singapore’s 13O (S$20 million minimum) and 13U (S$50 million) incentive schemes have clear rules and abundant precedent, suiting families centred on Southeast Asia. The Institute runs an exclusive Singapore family office visit in April 2026 to compare both ecosystems first-hand (see News & Events).
The dual-hub structure: a common pattern
Families with mainland business commonly run Hong Kong + Singapore in parallel: Hong Kong for mainland and GBA operations and people, Singapore for SEA asset allocation. The global family office market is projected to grow 7.1% a year from 2026 to 2035 (Research Nester), and dual-hub families are a rising share.
FAQ
Can you set up in both? Yes — tax residency and effective management must be planned separately with professional advisers. Which has the lower bar? Singapore’s 13O is nominally cheaper to enter, but Hong Kong’s cost structure and mainland connectivity often win for mainland-facing families.
Key Facts
Hong Kong books about US$2.5 trillion of cross-border wealth (BCG, 2026).
Singapore’s 13O threshold is S$20 million; 13U is S$50 million.
Hong Kong’s CIES threshold fell to HK$30 million in 2025.
The global family office market is projected to grow 7.1% a year 2026–2035 (Research Nester).
Hong Kong’s overtaking of Switzerland drew 600+ global media reports (BCG, 2026).
References
Related Guides
Explore how to set up an SFO in Hong Kong and the Hong Kong wealth hub case study on the Institute\u2019s site, or see the FAQ.