Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

Family Office Advisers See Rising Interest in Leaving Hong Kong

Family Office Advisers See Rising Interest in Leaving Hong Kong

Service providers to some of Asia’s wealthiest families say they are fielding a rising number of calls about shifting away from Hong Kong, with some already moving money to Singapore-based banks.

“Projects that were going into Hong Kong, people are now holding back,” said Shanker Iyer, Asia executive chairman at IQ-EQ, which says it has about $450 billion of assets under administration for family offices and other investors.

The company is getting regular calls from clients asking about the logistics of leaving Hong Kong, he said. “People who aren’t in the market already and want to come in, they’re having second thoughts,” with Singapore seen as a much more business-friendly destination, he added.

The shift comes at a critical time for Hong Kong, which has been roiled by months of violent protests that have made investors fearful of direct intervention by Chinese authorities to quell the unrest.


‘Little Typhoon’


Clifford Ng, a managing partner at Zhong Lun Law Firm in Hong Kong, who specializes in advising high net-worth individuals on cross-border transactions and investments and has lived in the city since 1995, said the level of interest in moving assets to Singapore is “unprecedented.”

“We have certainly received a lot of questions regarding the freedom to move money,” he said. “Investors hate uncertainty and Hong Kong is a little typhoon within a much bigger storm of uncertainty. Risk avoidance, in handling other people’s money, drives that money to a less uncertain place.”

With financial services accounting for about one-fifth of Hong Kong’s GDP, any disruption will have a real impact on the economy, which is already slipping as tourists desert the city and retail sales slump.

Hong Kong Is Sinking Into a Recession With No Recovery in Sight

The possibility of Hong Kong’s legal system changing earlier than the scheduled deadline of 2047 is another cause of angst among family offices, according to IQ-EQ Group Executive Chairman Serge Krancenblum.

The city operates a legal system derived from British common law under the One Country, Two Systems principle. A failed attempt to introduce extradition laws that would expose citizens to prosecution in mainland China sparked the protests and the imposition of colonial-era emergency powers have also shaken investor confidence.

How Far Hong Kong’s Emergency Law Can Go (Online Too): QuickTake

“If you’re an investor, even a non-local one with Hong Kong structures as a family office, how can you base your future on a system that may not be there as long as you thought it would be?” Krancenblum said. “This is a very big problem. Investors, and families, care about stability.”

The instability may already be having an impact, with Goldman Sachs Group Inc. estimating that there has been an outflow of Hong Kong dollar deposits of between $3 billion to $4 billion to Singapore.


Hedge Funds


“We’ve seen some of our Hong Kong-based managed clients that have said they want to move their assets from Hong Kong-based banks to Singapore-based banks,” said Steve Knabl, chief operating officer of Swiss-Asia Financial Services Pte, whose platform hosts hedge funds and wealth managers. “So the move is clearly there, especially from private clients.”

While many hedge funds are seeking advice from lawyers, accountants and migration agents, few are actually moving, and Knabl said he didn’t expect an overnight shift in staff from Hong Kong to Singapore.

Eurekahedge Pte data show assets under management by Hong Kong hedge funds reached a record high $92.1 billion in September.

This is partly because the months-long process needed to get a license in Singapore can be a deterrent to moving. Hong Kong also remains a better gateway for hedge funds seeking to profit from mainland China without the downsides of living there.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×