Publication Type

Journal Article

Version

publishedVersion

Publication Date

7-2026

Abstract

Family offices manage substantial wealth and often undertake philanthropic initiatives as part of their broader objectives. These offices may assume a variety of legal forms, ranging from corporations, partnerships, trusts administered by private trust companies or a combination of these forms. This article is concerned with family offices which use trusts administered by private trust companies in offshore jurisdictions. In response to competition for global wealth, several offshore jurisdictions have enacted trust laws that relax traditional doctrinal constraints to accommodate the needs of family offices. These include the creation of discretionary trusts for hybrid purposes in perpetuity ie trusts that combine private purposes, benefits for individuals and charitable aims. A recent example of such an offshore philanthropic structure is found in the case of the Wang family, one of Taiwan’s wealthiest families, who used Bermudian trust structures for ostensibly philanthropic aims. This paper identifies and interrogates a gap in existing literature, namely, an engagement with whether such offshore trusts, in substance, advance philanthropy. In addition, the paper will use the Wang family dispute to explore the practical implications of such structuring. The central argument advanced is that these structures suffer from a fundamental deficit of regulatory oversight and internal governance. As such, there are serious doubts about the capacity of these structures to adequately advance philanthropic goals.

Keywords

family office, trust law, philanthropy, offshore trusts

Discipline

Estates and Trusts | Law | Law and Philosophy

Research Areas

Private Law

Areas of Excellence

Growth in Asia

Publication

Hong Kong Law Journal

Volume

56

Issue

1

Last Page

129

ISSN

0378-0600

Publisher

Hong Kong Law Journal Ltd.

Embargo Period

7-26-2026

Additional URL

https://web.law.hku.hk/hklj/2026-Vol-56.php

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