Photo : Dubai Government Media Office
The Dubai Centre for Family Businesses, operating under Dubai Chambers, has released a comprehensive new toolkit focusing on the pivotal role of Family Offices. This guide aims to shed light on governance structures within Family Offices, delineate their specializations, and outline their services and benefits.
The toolkit provides a thorough examination of why Dubai is increasingly favored by Family Offices looking to establish their regional headquarters. Key factors include Dubai’s robust financial ecosystem, which offers a broad range of investment opportunities across sectors such as venture capital, private equity, real estate, and hedge funds. Additionally, Dubai's strategic location and state-of-the-art infrastructure facilitate exceptional global connectivity.
The publication emphasizes Dubai's high standard of living, which has made the emirate an attractive destination for high-net-worth families. The city’s competitive edge also includes a rich cultural diversity and a family-friendly environment that welcomes international families while preserving its heritage.
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Dubai is positioned as a premier hub for wealth management, largely due to its favorable tax regime. The emirate boasts no personal income tax, withholding tax, capital gains tax, or estate and inheritance taxes, making it a compelling choice for high-net-worth individuals (HNWIs) to establish Family Offices.
The toolkit elaborates on the essential role of Family Offices in managing family businesses and wealth. These entities are crucial for maintaining the family's legacy and vision through a variety of services, including investment strategy development, tax planning, administrative tasks, and philanthropy.
Family Offices offer a holistic approach to wealth management, providing a structured framework for handling family affairs with a high degree of confidentiality. They play a significant role in preserving and enhancing the family’s legacy, managing tax affairs efficiently, and preparing future generations to responsibly handle family wealth in accordance with best practices.
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