What is a family office Hong Kong?

FamilyOfficeHK offers a wide range of one-stop customised services, free of charge. It is also a central point of contact that can connect family offices with other relevant Government agencies and financial regulators, such as the Hong Kong Monetary Authority and Securities and Futures Commission.

How many family offices are there in Hong Kong?

The number of licensed family offices in Singapore increased by five times between 2017 and 2020 to more than 400, while Hong Kong only had 50 such firms licensed by the SFC.

How many family offices are there in Singapore?

400 SFOs
Singapore, in particular, has seen its number of FOs multiply fivefold from 2017 to 2019. There are currently about 400 SFOs in Singapore. This surge encompasses new Asian FOs as well as satellite offices of FOs from Europe and North America keen to tap on regional growth and explore co-investment opportunities.

What is the meaning of family office?

The family office is a dedicated solution for the complex management of the family wealth. It is a vehicle that supports the family in the day-to-day administration and management of the family’s affairs and long-term strategy. Family wealth is a very specific and complex type of wealth in terms of management.

Are you rich enough for a family office?

Many clients still think in terms of total net worth, and it can be a quick back-of-the-napkin measure. I usually advise clients that you should only consider a traditional family office if your total net worth is above $100 million minimum and most will need more than $250 million.

How much money do you need to have a family office?

Generally speaking, a small family office would have about six employees and would cost anywhere from $1 million up to $2 million to operate annually. A medium-sized family office would require 15 people to operate, with an annual operating budget of $3 million to $4 million.

How do multi family offices work?

Functionally, a multi-family office provides the same service as a family office, but to more than one family or individual. While a wealth management firm typically provides investment portfolio management services and financial planning services, a multi-family office’s services extend beyond the strictly financial.

How much wealth should you have in a family office?

Many clients still think in terms of total net worth; convention wisdom dictates that you should only consider a traditional family office if your total net worth is above $100 million minimum ,and most will need more than $250 million.