HKUST MSc in Family Office and Family Business | studyabroad.wiki · Open Archive of Study Abroad Applications

The MSc in Family Office and Family Business at the Hong Kong University of Science and Technology (HKUST Business School) is a one-year full-time taught master’s programme focusing on the governance, management, succession, and wealth preservation of family-owned enterprises and single-family offices. The programme draws on HKUST’s Roger King Center for Asian Family Business and Family Office, a dedicated research centre established to study and support family businesses in Asia. The curriculum integrates family business governance theory, wealth management practice, succession and legacy planning, and the operational management of family offices. It targets graduates who intend to work in family offices, wealth management firms serving ultra-high-net-worth (UHNW) families, or their own family businesses. As of mid-2026, this is one of the few dedicated MSc programmes globally in family office and family business management.

Programme Structure

The programme is a one-year full-time MSc with a curriculum structured around four domains: family governance, wealth management, family office operations, and the broader business context of family enterprises.

Core areas covered include:

Family business governance: Governance structures for family-owned enterprises, including family constitutions, family councils, board composition and director roles, and the separation of ownership and management. The curriculum covers both single-generation and multi-generational family businesses, addressing common governance challenges such as conflict resolution among family shareholders, professionalisation of management, and the transition from founder-led to professionally managed structures.
Family wealth management: Asset allocation for UHNW families, investment governance, alternative investments (private equity, real estate, hedge funds), philanthropic structuring, impact investing, and cross-border wealth planning. The module covers wealth management from the perspective of the family office rather than a retail or institutional investor.
Succession and legacy planning: Generational transition strategies, leadership succession frameworks, estate and tax planning considerations, trust and foundation structures, and preparing the next generation for ownership and leadership responsibilities. Asian family business context receives particular attention, given the region’s high concentration of first-generation and second-generation wealth transitions.
Family office operations: The operational architecture of single-family offices (SFOs) and multi-family offices (MFOs) — service scope, staffing models, technology and reporting infrastructure, cost structures, and benchmarking. Also covers regulatory and compliance considerations for family offices in Hong Kong, Singapore, and other key jurisdictions.
Entrepreneurship and innovation in family enterprises: Intrapreneurship within family businesses, corporate venture capital and direct investments by family offices, and managing innovation across generations.

Elective options may include family business case studies, negotiation and conflict resolution, behavioural finance for families, and comparative family business systems across Asian and Western markets.

Hong Kong’s Family Office Policy Context

The programme is positioned against the backdrop of Hong Kong’s stated policy ambition to become a leading family office hub. Key policy developments include:

Tax concessions for family offices (effective from the 2022/23 assessment year): Profits tax exemption for qualifying family-owned investment holding vehicles (FIHVs) managed by single-family offices in Hong Kong, subject to conditions administered by the Inland Revenue Department
The Hong Kong government’s target (announced in 2023) of attracting at least 200 family offices to establish or expand in Hong Kong by 2025
InvestHK’s FamilyOfficeHK team: A dedicated government unit providing concierge services to family offices considering Hong Kong
The Network of Family Office Service Providers: A government-facilitated network connecting family offices with professional service providers in legal, tax, accounting, and wealth management

These policy measures create a structural demand for professionals trained in family office and family business management, which HKUST’s programme is designed to supply.

The Roger King Center for Asian Family Business and Family Office

The programme benefits from its connection to the Roger King Center at HKUST, which provides research, case studies, and practitioner networks. The Center focuses specifically on Asian family businesses, studying topics such as family governance in Chinese family enterprises, succession challenges in Southeast Asian business families, and the professionalisation of family offices in Greater China. Students have access to the Center’s research output, events, and industry connections.

Target Students

The programme targets three distinct applicant profiles:

Next-generation family business members — Individuals from family-owned enterprises who are preparing to take on leadership, ownership, or governance responsibilities. They may have studied business, law, or another discipline and are seeking structured education in family business management specifically.
Aspiring family office professionals — Graduates who want to build careers as family office executives, wealth planners, or advisors to UHNW families. They typically come from finance, law, accounting, or business backgrounds.
Professionals in related fields — Lawyers, accountants, wealth managers, and private bankers who currently serve family businesses or UHNW clients and want to specialise in the family office domain.

Work experience is not required for fresh graduates, but applicants with family business exposure or relevant professional experience are viewed favourably.

Entry Requirements

As of mid-2026, the programme’s entry requirements typically include:

A recognised bachelor’s degree in any discipline
Demonstrated interest in family business or family office, ideally through personal or family background, work experience, or academic projects
English language proficiency: IELTS 6.5 overall (with no band below 5.5) or TOEFL iBT 90+, or equivalent
GMAT or GRE scores are recommended but not always mandatory
Interviews may be part of the admissions process

Exact requirements should be confirmed on the official HKUST Business School MSc in Family Office and Family Business admissions page.

Career Outcomes

Graduates target two broad career pathways:

Family office and family business pathway:

Family office executive (investment, operations, or governance function)
Family business manager (taking on operational roles in the family enterprise)
Family governance and succession advisor
Philanthropy and impact investment manager for family foundations

Professional services pathway:

Private wealth advisor or relationship manager serving UHNW families
Family business consultant (strategy, governance, or succession advisory)
Trust and estate planning specialist
Tax advisor specialising in family wealth structures

Hong Kong and Singapore are the primary employment markets, with growing opportunities in mainland China (Shanghai, Shenzhen, Beijing) as Chinese UHNW families professionalise their wealth management and family governance structures.

Frequently Asked Questions

Q: Do I need to come from a family business to apply?

No. The programme accepts applicants from any background. However, applicants who do come from family businesses are expected to bring a genuine interest in the subject, as family business exposure provides valuable context for the programme’s case discussions and networking. Applicants without a family business background should demonstrate their interest through work experience, academic projects, or career goals.

Q: Is this programme useful if I plan to work in institutional asset management rather than a family office?

The wealth management and investment governance components of the programme are applicable to institutional asset management to some extent, but the programme is specifically designed for the family office and family business context. Applicants targeting institutional asset management careers may find an MSc in Finance more directly relevant. The programme is most suitable for those who specifically want to work with or within family-controlled wealth structures.

Q: How does this programme compare to HKU’s Master of Family Wealth Management (MFWM) or Master of Wealth Management (MWM)?

All three programmes address wealth management, but with different emphases. HKU’s MFWM focuses on wealth management for family offices and high-net-worth clients — the investment and planning side. HKU’s MWM covers comprehensive wealth management and private banking more broadly. HKUST’s programme is specifically focused on family office governance and family business management — the governance, succession, and operational side. The programmes are complementary rather than directly competing; applicants should choose based on whether their interest lies more in wealth management execution (HKU) or family governance and enterprise management (HKUST).

Q: What is the tuition fee for this programme?

As of the 2026–2027 academic year, tuition is approximately HK$380,000–440,000 for the full programme. The exact fee should be confirmed on the official HKUST Business School programme page.

Internal Links

Primary Sources

HKUST MSc in Family Office and Family Business: bm.hkust.edu.hk (accessed July 2026)
Roger King Center for Asian Family Business and Family Office: bm.hkust.edu.hk (accessed July 2026)
Hong Kong Government Family Office Policy: familyoffice.hk (accessed July 2026)
InvestHK FamilyOfficeHK: investhk.gov.hk (accessed July 2026)

Last updated: 2026-07-03