Africa’s Wealthy Families Are Taking A Closer Look At Hong Kong

As Africa’s economic ties with China deepen, high net worth individuals on the continent are exploring new opportunities to manage their wealth. Hong Kong, as part of China yet distinct in its legal and financial systems, offers African families a compelling gateway to both China and the broader Asian market, complete with legal certainty, a mature financial ecosystem and attractive tax incentives.

Africa’s ties with China have continued to deepen in recent years. From large-scale infrastructure investments under the Belt and Road Initiative to rising trade volumes, countries on the continent have actively expanded economic cooperation with China. For African families with financial ambitions in China, Hong Kong offers an efficient and sophisticated entry point.

These families expanding beyond their home markets find Hong Kong’s geographic and commercial reach hard to match. The city is within a five-hour flight of half the world’s population and serves as a launchpad to China, Southeast Asia and the rest of Asia-Pacific. Hong Kong also plays a pivotal role in China’s Belt and Road Initiative, which has facilitated closer links with African economies.

Known for its financial strength, legal stability and cosmopolitan lifestyle, Hong Kong is an attractive gateway for families seeking access to China and broader Asia.

INVESTHK

As African families and high net worth individuals explore new destinations to preserve and grow their wealth, many are taking a closer look at Hong Kong. Known for its financial strength, legal stability and cosmopolitan lifestyle, the city is an attractive gateway for families seeking access to China and broader Asia.

A special administrative region of China, Hong Kong operates under the “One Country, Two Systems” framework. This gives it a high degree of autonomy and allows it to maintain its own legal, economic and financial systems. It is the largest global offshore renminbi (RMB) business hub, processing roughly 80% of global offshore RMB payments. Hong Kong imposes no foreign exchange controls and offers seamless access to global capital.

Hong Kong is also ranked as Asia’s top international financial center and the world’s second-largest cross-border asset and wealth management hub. It is expected to surpass Switzerland within the next few years. This positions the city as a smart choice for wealthy families to grow their investments globally.

“I first discovered Hong Kong in the 1980s, and it struck me as a truly international city with an unmatched entrepreneurial energy,” says Joe Tsai, Co-founder and Chairman of Alibaba Group.

“Even through challenging times, Hong Kong’s free-market DNA, vibrant financial markets and supportive tax environment stand out—making it, in my view, one of the best places for businesses and family offices to thrive,” he adds.

“To me, Hong Kong has always been the gateway to Asia,” says Horst Bente, Founder of ADLEGACY and grandson of Adidas founder Adi Dassler. “Investors are here, money is here, and, obviously, the talent is here.”

Hong Kong is ranked as Asia’s top international financial center and the world’s second-largest cross-border asset and wealth management hub.

INVESTHK

A Legacy That Endures Through Trusted Structures And Legal Continuity

Many African jurisdictions face ongoing legal and regulatory uncertainties that can complicate wealth preservation and succession planning. In contrast, Hong Kong operates under the common law system, a legal tradition familiar to international investors and those from English-speaking African countries.

It also offers trusted wealth protection tools such as discretionary trusts and other flexible structures. Notably, Hong Kong does not impose mandatory asset disclosure for private wealth structures, which helps safeguard financial privacy.

“One advantage Hong Kong has is the depth of talent on its bench of family advisors, including trustee services, family counselors and legal experts. That bench takes decades to build and is very hard to replicate,” says Charles Luchangco, Founder and Principal of Arete Capital Asia.

A Smarter Tax Home For African Wealth

Across Africa, tax complexity is a growing concern. Challenges include high corporate tax rates, dividend withholding taxes and tight foreign exchange controls.

Hong Kong, in contrast, offers a highly competitive and transparent tax regime. There is no capital gains tax, estate duty or value-added tax. Corporate profits tax is capped at 16.5%, and personal income tax ranges from just 2% to 17%. Moreover, Hong Kong has signed double taxation agreements with over 50 countries, including South Africa, which helps African investors avoid being taxed twice on the same income.

A notable benefit is the tax exemption available to single family offices. No pre-approval is required, and a simple self-declaration is sufficient. This makes Hong Kong especially attractive for families who want streamlined compliance and more predictable outcomes.

A Government-Backed, Advanced Fintech And Digital Asset Ecosystem

As some African countries are now starting to embrace fintech innovation, wealth holders are seeking regulated jurisdictions to manage digital assets securely. But limited regulatory clarity in many African countries is driving a search for safer jurisdictions where digital assets can be managed with confidence.

Hong Kong has responded with one of the world’s most advanced regulatory environments for fintech and virtual assets. Indeed, it remains the only city in China legally authorized to operate and manage digital asset platforms under a regulated framework.

The city’s government recently introduced a legislative bill to establish a licensing regime for fiat-referenced stablecoins, which will provide better protection for the investors and also lay a solid foundation for Hong Kong’s virtual asset market.

The city also hosts around 1,100 fintech companies, covering sectors such as digital assets, cryptocurrency, blockchain, wealthtech and green fintech.

Hong Kong is home to beaches, hiking trails and country parks—all accessible within 15 to 45 minutes from the city center.

INVESTHK

A Cosmopolitan City For Global Families

Lifestyle is often a key factor in relocation decisions, and Hong Kong makes a strong case. The city is home to 54 international schools and five universities ranked in the global top 100. Families can choose from Michelin-starred dining, high-end retail and exclusive pursuits, such as horse racing, yachting and golf, all within a safe and highly livable environment.

Nature is never far away. Beaches, the seaside, hiking trails and country parks are accessible within 15 to 45 minutes from the city center. The city’s healthcare system is also world-class, combining public and private hospitals with clinics offering both Western and Traditional Chinese Medicine. Furthermore, Hong Kong has the world’s highest life expectancy, reflecting its strong public health standards.

“Great infrastructure to the rest of Greater China and Asia. A very livable and safe city environment. Wonderful family life, great outdoor activities, a vibrant dining and cultural scene, Hong Kong has it all,” says Luchangco.

As African ultra-high net worth families look for stability, global access and a forward-looking base for wealth management, Hong Kong presents a compelling case. Its track record, financial sophistication and positioning in Asia’s economic engine room make it a destination worth paying attention to.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}