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Enoch Yiu

BNP Paribas, France’s largest lender and the second-largest in Europe, has found that an increasing number of wealthy European clients are seeking to establish family offices in Hong Kong to capitalise on growing opportunities in the region, according to a banker from the lender.
A growing number of wealthy mainland clients were also looking to invest in Europe, said Lemuel Lee, head of wealth management for BNP Paribas in Hong Kong.
“The two-way capital flow between Europe and mainland China is expected to continue in the coming years, while Hong Kong is playing an important role as a connector in the process,” Lee said in an interview with the South China Morning Post.
“For these European investors who want to invest in technology start-ups or other businesses in Asia and mainland China, Hong Kong is the best location for them to set up family offices to do due diligence or negotiate deals,” Lee added.
A family office is a corporation set up by wealthy individuals to conduct investment activities, manage succession planning or oversee non-financial assets like art collections or philanthropic foundations. To capture this market, the Hong Kong government has introduced tax incentives and other measures since 2023.
In June, Jason Fong, the global head of family office at InvestHK – the government body responsible for foreign investment promotion – told the SCMP that the agency was assisting 30 European family offices planning to set up or invest in the city, accounting for about 19 per cent of the 160 currently handled by the department.
This momentum was also reflected in a recent Deloitte study, which found that the number of single-family offices in the city had risen 25 per cent over the past two years, reaching about 3,384 by the end of 2025.
In Asia, we found many wealthy families want to carry out philanthropic activities as a way to give back to society and to establish the family legacy
Lemuel Lee, BNP Paribas
“The mainland companies that want to invest in Europe can also use Hong Kong as a platform for them to expand overseas,” Lee said. “Our bank’s Hong Kong office has helped a number of mainland wealthy families to buy a French winery or identify retail spaces in Paris.”
Looking ahead, Lee stressed that Hong Kong would need to introduce more measures to better accommodate family offices in philanthropy, catering to families who view family legacy through a charitable lens.
“The first generation of wealthy families usually creates the wealth, and the second generation focuses on investing the wealth. Hong Kong has been very strong in these areas due to our strong capital market,” he said.
“But as the wealth of these families grows, they look at how to preserve the family legacy through charity, which is why Hong Kong should do more to facilitate family offices to carry out their philanthropy.”
In February, the French lender launched the BNP Paribas Bridge Foundation, a donor-advised fund platform designed to support Asian family offices and high-net-worth clients in their philanthropic efforts.
“In Asia, we found many wealthy families want to carry out philanthropic activities as a way to give back to society and to establish the family legacy,” Lee said.
“The foundation is a cost-effective and ready-to-use platform that helps these donors manage their philanthropic assets, administer donations in a compliant manner, and implement proper risk management controls to achieve meaningful social impact,” he added.


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France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets


France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets.


Wealthy European clients eye Hong Kong for family offices, says BNP Paribas

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets

France’s largest bank reports a surge in two-way wealth flows through Hong Kong, as affluent mainland investors also leverage the city to acquire European assets