Hong Kong has attracted more than HK$10 billion (US$1.3 billion) under the city’s cash-for-residency scheme, in a major boost for its ambition to become a family office hub, officials said. Even Victor Li, the elder scion of the city’s wealthiest clan, said he is considering opening a family office for the first time.
The revamped Capital Investment Entrant Scheme (CIES), more commonly known as the investment migration scheme, has received 346 applications as of last Friday, according to Alpha Lau Hai-suen, director general of InvestHK, the government agency set up to promote the city as an international financial centre.
Source: TRADE FINANCE
