Opening a Family Office in Dubai

Introduction

• Dubai as a premier destination for family offices
• Benefits of setting up a family office:
  • Tailor-made wealth management
  • Centralized administration
  • Access to diverse investment avenues

Overview of Family Offices

• Definition: Private wealth management entities for affluent families
• Services offered:
  • Investment management
  • Financial planning
  • Estate planning
  • Administration tailored to unique needs

Types of Family Offices

• Single-Family Office (SFO):
  • Caters to one wealthy family, providing bespoke services
• Multi-Family Office (MFO):
  • Serves multiple families, allowing for cost-sharing and resource pooling
  • MFO must register with DNFBP and DFSA

Role and Functions of a Family Office

• Managing and preserving wealth
• Key functions include:
  • Financial advisory
  • Investment management
  • Asset allocation
  • Tax optimization
  • Philanthropy
  • Family governance

Why Choose Dubai?

Strategic Location

• Positioned at the crossroads of Europe, Asia, and North Africa
• Excellent connectivity for international trade and investment

Economic Stability

• Diversified economy with resilience
• Proactive government policies and investor-friendly regulations

Favorable Tax Regime

• No personal income or capital gains tax
• Double taxation avoidance agreements available

Steps to Set Up a Family Office in Dubai

1. Partner with Trade License Zone
   • Assistance in navigating the setup process
2. Choose a Family Office Name
   • Follow UAE Registry Office Guidelines
3. Select a Business Jurisdiction
   • Options: Free zones vs. mainland companies
   • Each has its benefits
4. Choose Trade License and Business Activities
   • Mandatory licenses for operations
5. Apply for Family Office License
   • Apply to relevant authorities (DIFC, DFSA, DNFBP)

Key Benefits of Establishing a Family Office in Dubai

• Customized wealth management strategies
• Centralization of financial planning and investment management
• Networking and co-investment opportunities in Dubai

Successful Family Offices in Dubai

• Examples:
  1. HB Investments
  2. CAF Investments
  3. El Daba Holdings
  4. Ulzaruni Emirates Investments
  5. Casamar Holdings

Conclusion

• Dubai's strategic location, robust economy, and favorable tax environment provide an ideal setting for affluent families to manage and preserve wealth.
• Partnering with Trade License Zone simplifies the setup process, saving time and ensuring compliance with regulations.