DUBAI: The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, has issued a new toolkit highlighting the important role of Family Offices.
The guide provides a detailed overview of governance structures for Family Offices, identifies their specialisations, and introduces their services and main benefits.
As part of the toolkit, the centre examined the key elements of Dubai’s attractiveness among Family Offices seeking to establish their regional headquarters.
These include a flourishing financial ecosystem offering access to diverse investment opportunities in areas such as venture capital, private equity, real estate, and hedge funds, in addition to the emirate’s strategic location and advanced infrastructure, which ensures outstanding global connectivity.
The publication highlights the high standard of living in Dubai and how this has established the emirate as a popular destination among high-net-worth families. Dubai’s competitive advantages also include a diverse
cultural landscape and family-friendly environment, which is suitable for international families while maintaining its rich culture and heritage.
Dubai is recognised as a leading hub for wealth management and has emerged as an appealing destination for high-net-worth individuals (HNWIs) to establish Family Offices due to its favourable tax regime, with no personal income tax, withholding tax, capital gains tax, and estate or inheritance taxes.
The toolkit outlines the vital role of Family Offices in the effective and efficient management of family businesses, wealth management, and preserving the legacy of family businesses.
Family Offices assume diverse roles and provide multiple services ranging from investment strategy development and tax planning to administrative affairs and philanthropy.
Source: Emirates News Agency