family office hub

Government Wants Bali to Become a Family Office Hub Like Singapore and Hong Kong

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The government will encourage Bali to become a family office center or Family Office Hub. The idea emerged after being discussed at the 10th World Water Forum in Bali.

Luhut said Bali would be encouraged to be like Hong Kong and Singapore, given that both are the most prominent countries with family office centers in Asia.

“There is talk that we will encourage Bali to become a hub for family offices, like in Hong Kong and Singapore,” Luhut Binsar Pandjaitan said at a press conference after the Balinese Purification Ceremony in Denpasar, as reported by BeritaSatu.

According to him, as many as 20 big businessmen who attended the 10th WWF are already interested in investing. The entrepreneurs, Luhut said, see Bali as producing not only material benefits but also happiness, which is crucial for a good working environment.

Recognizing the importance of meeting entrepreneurs’ needs, Luhut also emphasized their request for the construction of a high-quality hospital and other essential facilities. 

This commitment to providing a conducive business environment is a testament to the government’s dedication to the success of Bali’s transformation into a family office hub.

business in indonesia

Meanwhile, Tourism and Creative Economy Minister Sandiaga Uno also supports Bali’s position as a family office hub.

A family office is a concept in which a family brings wealth to invest and manage in an area while traveling. 

Sandiaga explained that the family office concept had been developed to attract investment in several countries, including Singapore, Malaysia, Monaco, London, Hong Kong, and Dubai. 

He considered the concept interesting and strategic to develop, and Bali was considered more ready because the tourism ecosystem was built.

He believes Indonesia can realize the family office hub because the government has a golden visa policy for qualified foreign investors and tourists. 

“So the length of stay is very long. Second, they bring funding. So the sustainability is more pronounced, which is very compatible with the Golden Visa concept,” Sandiaga said.

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A writer fueled by passion, with a deep admiration for Taylor Swift’s artistry. You can find Imelda on the weekend in the joy of being a paw parent or curled up on the couch, engrossed in the latest sci-fi or mystery novel.

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