Hong Kong’s investment promotion agency has launched a charm tour to Europe to attract high-net-worth individuals to set up family offices in the city.

Charles Ng Siong-kwong, a senior InvestHK official, departed on Sunday and will visit several major European cities including London, Milan, Lugano and Paris next week, meeting family office representatives in the region and speaking at a financial forum. to promote the city.

“Our commitment to developing a business-friendly environment, combined with our strong financial infrastructure, makes Hong Kong an ideal destination for investors looking to diversify their portfolios and capitalize on the significant growth potential in Asia,” said InvestHK Deputy Managing Director Ng. investment promotion.

Ultra-high net worth individuals in Europe face an increasingly uncertain tax environment, a government spokesman said. Many are shifting their wealth management focus to Hong Kong due to its more favorable tax policies and leading wealth management position in Asia, he said.

Hong Kong has been keen to attract high-net-worth family offices in recent years, with the government arm holding a three-day summit in September.