Family Offices Are Rethinking How They Choose a Jurisdiction, TMF Group Data Shows

Just 31% now cite staying close to their investments as the top reason for their base — political and economic stability rank almost as high

SINGAPORE and HONG KONG, Sept. 10, 2026 /PRNewswire/ -- Wealthy families and family offices are considering a broader range of factors when choosing where to manage their wealth, according to new research by TMF Group, a leading provider of global business administration and corporate services. Just 31% of family offices cite staying close to their investments as their primary reason for choosing a jurisdiction, while political and economic stability each rank second at 23%. Rather than moving away from established bases, however, most family offices are taking a more strategic approach—layering additional jurisdictions onto their existing footprint as their operations and investment portfolios expand.

That is the main key finding of 'Building a Future-Ready Family Wealth Strategy', a new white paper released today by TMF Group. Building on the findings of the Group's recently released Global Business Complexity Index (GBCI) 2026, the report draws on insights from leading family office professionals to examine the evolving trends, priorities and challenges shaping the Private Wealth and Family Office (PWFO) landscape.

The shift reflects a broader trend: as wealthy families become more international, family offices are being asked to manage increasingly complex governance, succession and decision-making needs across multiple jurisdictions and generations.

The GBCI ranks jurisdictions from most to least complex for doing business — the higher the number, the simpler the regulatory environment. Singapore and Hong Kong SAR, two of the hubs at the centre of that shift, sit at very different points on the table: Singapore in the middle, Hong Kong SAR near the bottom end — among the least complex jurisdictions in the world — and both continue to draw new family office activity regardless.

Singapore cements its role as South Asia's family office strategic hub

Singapore has become a more complex jurisdiction in recent years, ranking 47th globally for business complexity in TMF Group's GBCI 2026, compared with 59th in 2023. Yet it remains one of Asia's leading financial hubs, thanks to its ecosystem of banking, legal, tax and advisory expertise. As wealthy families expand across multiple markets, Singapore is increasingly serving as a strategic hub for managing wealth, governance and family office structures across jurisdictions.

As family structures and wealth portfolios become more complex, wealthy families are increasingly seeking support beyond initial structuring, particularly in areas such as succession planning, wealth transfer, family constitutions and family office development. Many are turning to multi-jurisdictional solutions and strategic advice to help build long-term resilience across generations and jurisdictions.

"For years, wealthy families treated planning as a one-off exercise, to put a structure in place to revisit only when there is a trigger event — a new regulation, a market shock or a family event. That is shifting. We expect more proactive, multi-jurisdictional planning to keep gathering pace over the next couple of years, especially as more families bring the next generation into these conversations earlier. That tells you families are building for resilience, not convenience," said Josephine Poh, market head of private wealth and family offices, South Asia and Australasia, TMF Singapore.

Hong Kong enters a new era of cross-border succession

In Hong Kong, the introduction of CRS 2.0 in 2028 — the OECD's updated Common Reporting Standard — is driving greater transparency in the private wealth sector, particularly around tax residency. The number of family office setups in the city continues to grow, underscoring strong demand and confidence in the jurisdiction, the report finds. Tax reforms on the Chinese mainland have reduced tax-planning flexibility for some wealthy families, creating uncertainty, but asset protection and succession planning remain the primary drivers of structuring activity.

Family offices in Hong Kong are also becoming more professionalised, the report notes, increasing demand for specialist support and outsourced services. That growth is happening against a steadily improving backdrop: Hong Kong is the 7th least complex jurisdiction globally, having ranked 74th, 74th, 76th, 76th and now 78th on the GBCI over the past five reports — a consistent, unbroken move toward less complexity.

"We are seeing continued demand, with a growing number of family offices being established in Hong Kong, which is a very encouraging sign for the market," said Ivy Choa, market head of private wealth and family offices, North Asia, TMF Hong Kong. "The families we work with in Hong Kong are increasingly global in a way their parents' generation wasn't. Succession used to mean handing over a business in one place. Now it often means handing over a structure that has to work across several legal systems at once, because that's simply where the family's business and its people operate today. Getting the governance right, so decisions can still be made together as one family, is where we're spending most of our time with clients right now," she added.

Generational differences are reshaping family office decision-making

The white paper also points to wider shifts reshaping how family offices operate. Professionalisation is prompting more offices to outsource functions or explore models such as multifamily arrangements and virtual family offices. Interest in AI has risen sharply, though adoption still lags larger institutions: offices are exploring it mainly for research ahead of investments and for operational efficiency, while remaining cautious about the accuracy of AI-sourced information and the privacy and cybersecurity risks of early adoption.

Families say they want to work with partners who bring strong governance and controls to that adoption. On investment priorities, interest in ESG considerations has eased since 2023 — net interest in more environmentally-friendly investing fell from 80% that year to 50% in 2026 — a shift the report links to near-term pressure on energy markets, with ESG expected to remain a standard consideration as younger family members take on a larger role in decision-making.

"What's interesting about AI in family offices right now isn't really the technology; it's the generational gap in how people feel about it. The first and second generation tend to be cautious, mainly around accuracy and security. The third generation has grown up with these tools and is far more comfortable using them for early-stage research. What we hear consistently from these families, across generations, is that they want a partner who takes governance and security as seriously as they do — that matters more to them than how fast anyone moves," said Tim Houghton, Global Head, Private Wealth and Family Offices, TMF Group.

"To survive and thrive, family offices must evolve, embracing more flexible operating models, leveraging specialist expertise and remaining nimble in the face of change," Houghton writes in the white paper's foreword. "Success depends on the ability to adapt with confidence as new risks and opportunities continue to emerge."

'Building a Future-Ready Family Wealth Strategy' also includes complexity rankings and regional analysis across the UK and Channel Islands, the Middle East and Latin America.

About TMF Group

TMF Group is a leading provider of critical administrative services, helping clients invest and operate safely around the world. TMF Group has 13,000 experts across 125 offices in 87 jurisdictions, providing accounting, tax, payroll, fund administration, compliance, entity management, and trustee services that are essential to global business success.

TMF Group supports corporates, financial institutions, asset managers, private clients and family offices. Our clients include most Fortune Global 500 and FTSE 100 companies, across sectors including capital markets, private equity, real estate, pharmaceuticals, energy and technology.

Sumber: www.prnasia.com