A family office is a private entity dedicated to managing the financial and personal matters of high-net-worth individuals (HNWIs) and their families.
In various UAE free zones, including DIFC, DWTC, DMCC, IFZA, RAK ICC, you have the opportunity to set up a family office. Depending on the scope of management (for one family or several) it can be organized as a single-family office or a multi-family office.
01
Centralized Governance
It unites the management of various assets (real estate, private businesses, stocks) under a single entity.
02
Strategic Legacy Planning
It supports succession planning by establishing legal frameworks, like foundations and trusts, to pass asset ownership to future generations.
03
Professional Wealth Management
It works alongside financial professionals to enhance asset distribution and effectively manage risks.
Single Family Office — SFO
Manages and oversees assets of one individual or a single family.
Multi-Family Office — MFO
Provides services to several individuals or families usually providing a wider variety of services.
The type of services offered may necessitate obtaining additional licenses. Multi-Family Offices face more stringent regulatory supervision, particularly when offering specialized services such as financial advisory or investment management.
We provide comprehensive assistance for obtaining the required licenses for both SFOs and MFOs. Whether you are looking to establish a private office for a single family or a collaborative multi-family structure, expert support is available at every turn to ensure a smooth and informed experience.
How to establish an SFO / MFO
DWTC
01
For an SFO, the requirement includes maintaining on account at least AED 500,000 (USD 136,000) in liquid assets for a minimum of 12 consecutive months.
02
For an MFO, the office must provide a list of family offices, individuals, or family businesses it intends to serve, supported by documents such as passports, licenses and other.
03
Both SFOs and MFOs are required to have office space within DWTC.
04
An SFO or MFO must operate as a distinct, self-sufficient parent entity with a standalone license that does not permit additional activities beyond those allowed. Permitted activities are wealth and asset management, investment management, succession planning, finance and legal affairs management, administrative and concierge services.
DIFC
01
Setting up an SFO or MFO in DIFC involves higher incorporation costs and a more extensive compliance process.
02
It is necessary to provide confirmation that the individual or family being served by the SFO or MFO holds a combined total of at least $50,000,000 in net assets.
03
Regardless of the family office type, it is required to lease office space within the DIFC, unless a waiver is granted, allowing the use of the corporate services provider's address as the registered office.
04
The family office license in DIFC is also a standalone license, prohibiting any unrelated activities beyond those allowed. Permitted activities are wealth and asset management, investment management, succession planning, finance and legal affairs management, administrative and concierge services.
Other services
