The Dubai Centre for Family Businesses, operating under Dubai Chambers, has released a new toolkit that emphasizes the crucial role of Family Offices, Dubai Media Office reported.
This guide offers a comprehensive overview of governance structures for Family Offices, highlights their areas of expertise, and outlines the services they provide along with their key benefits.
As part of the toolkit, the centre explored the main factors that make Dubai an attractive location for Family Offices looking to set up their regional headquarters.
These factors include a vibrant financial ecosystem that provides access to a wide range of investment opportunities in sectors such as venture capital, private equity, real estate, and hedge funds. Additionally, Dubai’s strategic location and advanced infrastructure facilitate excellent global connectivity.
Read more: Dubai Chamber of Commerce launches ESG Label to promote sustainable business practices
The publication also underscores Dubai’s high standard of living, which has made the emirate a favored destination for high-net-worth families. The city’s competitive advantages feature a rich cultural landscape and a family-friendly environment, making it suitable for international families while preserving its heritage.
Dubai is recognized as a premier hub for wealth management, drawing high-net-worth individuals (HNWIs) to establish Family Offices due to its advantageous tax environment, which includes no personal income tax, withholding tax, capital gains tax, or estate taxes.
The toolkit details the essential functions of Family Offices in managing family businesses effectively, overseeing wealth management, and maintaining family legacies. Family Offices perform a variety of roles and offer a range of services, including investment strategy formulation, tax planning, administrative support, and philanthropic initiatives.
For more economy news, click here.
