Regulatory perimeter
Determine Type 9 licensing needs, potential Type 1/4 activities, fit-and-proper requirements and the roles of at least two competent Responsible Officers where a Type 9 licence is required.
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ADVISORY BLUEPRINT / CASE STUDY
Family Office Establishment Advisory
Single- and multi-family structures, regulated operating model, fund formation and launch readiness.
HONG KONG · FAMILY OFFICE
Two operating models, one disciplined design
A single-family office may manage related-family assets through an internal structure. A multi-family platform serving unrelated families may require regulated investment management, pooled investment vehicles and a more formal control environment. The first decision is therefore structure and activity, not simply company incorporation.
OPTION A
Single-family office
Define the ownership and trust structure, investment mandate, governance, reporting, outsourced custody and tax analysis. SFC licensing depends on the actual activities and applicable carve-outs; it is not automatically required merely because an entity is called a family office.
OPTION B
Multi-family investment platform
Illustrative structure: founding families → Cayman pooled vehicle → Hong Kong Type 9 investment manager → administrator, auditor, prime broker/custodian. Cross-border fund classification and licensing must be confirmed with counsel.
TARGET OPERATING MODEL
From family capital to accountable oversight
01Founder familiesInvestment objectives & eligibility
02Fund / holding structureCayman vehicle where appropriate
03Hong Kong managerInvestment decisions & delegated authority
04Service providersCustody · administration · audit
05Oversight & reportingNAV · compliance · investors
The flow is an illustrative multi-family design; the legal and regulatory form depends on investment strategy and fund terms.
KEY DECISIONS
What must be resolved before launch
Governance and decision rights
Define board and management responsibilities, CIO/COO mandates, delegated investment authority, investment committee, conflicts and outsourcing oversight.
Core controls and documentation
Business plan, offering/subscription documents, AML/KYC, FATCA/CRS, custody contracts, investment management agreement, service-provider contracts and regulatory filings.
Systems and records
Portfolio/order management, investment book of record, valuation/NAV, reconciliations, accounting, CRM/workflow, compliance monitoring, document management and cyber controls.
COST FRAMEWORK
Build the budget around cost drivers—not a generic headline figure
One-off establishment
Hong Kong incorporation and legal advice; Cayman formation and filings where applicable; licensing advisory; constitutional, offering and subscription documents; vendor selection and system implementation.
Recurring operating cost
Responsible Officers and core management; compliance/MLRO; finance and operations; administrator, custodian, auditor, tax, regulatory fees and infrastructure support.
Variable and scale-driven cost
Trading and prime-brokerage commissions, custody/asset-based fees, leverage and financing charges, market-data subscriptions, integrations, fund size and number of families/accounts.
The source materials contain timeline and staffing assumptions but no substantiated fee quotations. No HKD cost estimate is presented until scope and supplier proposals are confirmed.
REFERENCE MATERIAL
Conceptual design informed by a four-part family-office establishment roadmap. Regulatory interpretations should be reviewed against current SFC guidance and legal advice.
DISCUSS A SIMILAR PROJECT