By Alex Liu
Hong Kong, 10 April 2026: In an increasingly volatile world, Hong Kong offers safety, security and stability. That was the core message delivered at the recent Wealth for Good in Hong Kong (WGHK) Summit, which brought together more than 400 influential family office decision-makers, next-generation successors and industry leaders from around the world.
Co-organised by the Financial Services and the Treasury Bureau and Invest Hong Kong, the fourth edition of the annual conference featured in-depth discussions on topics ranging from cross-generational wealth management and cultural legacy to technological innovation and philanthropy.
A succession of eminent speakers, including city leader John Lee and financial secretary Paul Chan, highlighted Hong Kong’s strengths as a world-leading family office hub: common law legal system, independent judiciary, open economy, free flow of capital, freely convertible currency and simple tax regime.
Our city is now home to more than 3,380 single family offices – a 25% increase in the past two years – reflecting the confidence in Hong Kong as a base for generational wealth transfer. This impressive growth is the result of our government’s policy statement of 2023 aimed at attracting more family offices to Hong Kong with measures that include profits tax exemptions, streamlined regulatory requirements and dedicated support services through InvestHK.
Legal expertise is a key factor in this drive. Here at BC&C, we tailor reliable solutions for our clients’ estate and succession planning, thus ensuring wealth protection over generations. We advise on asset protection, long-term capital preservation and risk mitigation, giving clients peace of mind that their wealth is safe and secure for the long term.
Trusts and foundations play a major role in this process. It is a highly bespoke area of practice that requires compliance with myriad legal requirements. In terms of trusts, we assist with the following:
Setting up a trust: We draft bespoke trust deeds that establish tailored trusts for every individual client. This requires getting to know our client and their needs and concerns in a detailed manner. Assets must be identified, concerns addressed and goals defined. Our typical client will have assets in numerous jurisdictions.
Managing the trust: Often, this involves two distinct aspects. Firstly, we can act as trustee under certain circumstances; and secondly, we can act as legal advisor to the trust. These are structures that allow the settlor of the trust to remain active and involved in administering the trust assets. Further, given our multi-disciplinary legal practice, we are well positioned to attend to any legal matters that may arise during administration of the trust.
Dissolution of the trust: Some trusts are eventually dissolved, which involves significant administrative work as well as disposals or transfer of the trust assets.
Estate and succession planning: Trusts and foundations play a major role in this. While there are some tax considerations, mostly the ring-fencing of assets, long-term capital preservation and risk mitigation are motivating factors for our clients. This may also involve other areas of practice, such as family, company, commercial and land law, in order to provide an all-rounded solution.
Foundations: For some clients a civil law foundation – typically set up in a European country – rather than a trust may be preferable. This will depend on many different factors, including where the assets in question are located. We have a deep understanding of civil law foundations and can assist in their establishment and administration, if required.
In offering such services, we welcome our government’s myriad initiatives to support the wealth succession sector. The two-day programme at the WGHK Summit covered three major areas – wealth management, cultural branding and smart technology – facilitating numerous cross-sector dialogues and exploration of potential collaborations. The conference anchored a week of wealth and investment events in our city organised by the likes of the Milken Institute, HSBC and Bloomberg.
It is worth noting, as well, that shortly after the WGHK Summit, it was announced that Hong Kong has retained its position as Asia’s top financial centre – and stays ranked third globally, just behind New York and London – in the latest Global Financial Centres Index.
In conclusion, it is clear that Hong Kong provides an economic and business environment with policy predictability and institutional trust. It is on this bedrock that our services are built, as we provide legal clarity via a dedicated team. We look forward to assisting you.
Alex Liu is Managing Partner of BC&C. His key areas of practice include commercial and corporate litigation, investigations by governmental bodies and commercial contracts. He also advises private clients on matters relating to estate and succession planning, including the setting up and management of trusts. He can be contacted at alex@boasecohencollins.com.
