A Family Office is a vital tool for the efficient management of family businesses and plays an important role in preserving their legacies.

Dubai, U.A.E. – 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.

Family Offices help to ensure a holistic approach to wealth management and provide a framework for dealing with family affairs with a high degree of confidentiality. Through their activities, they contribute effectively to upholding and advancing the family's legacy, vision, and values; manage tax affairs with greater efficiency; and play a vital role in training and qualifying future generations to manage family wealth responsibly in line with best practices.

The Dubai Centre for Family Businesses’ Family Office Toolkit can be accessed by visiting the following link: Family Office Toolkit.

About Dubai Chambers:

Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers.