Dubai For Family Offices

Dubai is pushing hard to become the global family office hub.

The Emirati city is already recognized as a global financial capital and has a reputation for extravagant luxury.

Now it’s doing everything it can to convince the world’s wealthiest to make it their operational base.

Over 1,000 family offices are established there, but that number is set to climb.

Dubai just knows how to get things done.

Its remarkable diversification away from oil - previously over half its GDP, now less than 1% - is matched by its population growth and diversification.

In 1975, Dubai had less than 200,000 residents. Today it has 3.8 million.

90% are non-Emirati, many there for the tax advantages and strong family infrastructure, attractions that recently ranked it as the most accommodating location for the world's rich.

It’s not just about tax

Every local family office principal and service provider we spoke with stressed the same point: Dubai is about far more than tax.

“Tax efficiency is a consideration but rarely the only driver,” says Yann Mrazek, Managing Partner of Dubai-based wealth advisory M/HQ. “Families are drawn to the UAE for its stability, strong legal and regulatory frameworks, and exceptional connectivity, both geographically and digitally.” 

Mrazek notes the high quality of life, safety, and Dubai’s entrepreneurial ecosystem help attract wealthy residents to either fully relocate or add an additional base.

“Increasingly, we are seeing families applying a multi-hub strategy and viewing Dubai and Abu Dhabi as strategic jurisdictions for their global operations and intergenerational planning, as well as deal flow.”

This is echoed by SFOA Alliance founder Lex van Dam, who relocated to Dubai last year after three decades in London.

“I wanted to be somewhere where the action was. Somewhere with high energy, and exciting new opportunities.”

He cites significantly lower cost of living (compared to London), with local community and truly global networking as other benefits. 

Dubai versus other hubs

“Singapore and Hong Kong are also great but I think geographically Dubai is easier to get to from Europe and the States,” says van Dam. “The amount of people that travel in and out of here is incredible - there is always someone I know visiting the UAE.” 

The Dubai International Financial Centre (DIFC) and its Family Wealth Centre have had a significant impact on the surge in new family offices.

They make it easy for foreign families to explore potential structures and connect with trusted local providers, a positive influence that van Dam emphasizes.

“The government is fantastic: highly approachable, visionary, well educated - they totally get it.”

While Dubai once might have been seen as a satellite location for already established family offices, today more are fully functional. 

Mrazek estimates only a third of family offices in the region function as lean or representative offices, the rest are fully staffed, operational setups.

“The prevailing trend is toward establishing a stronger local presence, as families increasingly recognize the strategic value of having dedicated on-site support and governance in the region.”

New region, old challenge

We continuously hear principals around the world say family office recruitment is a major challenge.

Dubai is no different. But Tayyab Mohamed, co-founder of family office consultancy Agreus, notes that while the talent ecosystem is newer, it is expanding rapidly. 

“Dubai family offices have access to a growing and qualified talent pool which is comparable to any other mature market. They also have a growing ecosystem of best-in-class service providers from corporate services, accountancy, investment, tax and law firms that cater to global families.” 

Providing advice on family office compensation is where he’s seen the highest demand, though as offices professionalize this is expanding.

“Our governance consulting services are catching on really fast. The consulting services usually go hand in hand which naturally leads to our recruitment services.”

Where to from here?

Dubai benefits from being just a few hours away from Abu Dhabi, which has similar initiatives to attract wealthy families. 

It also adds to the regional synergy and a general sense of optimism.

“We believe the ecosystem in this region will grow exponentially and continue to mature,” says Mohamed. “With favourable fiscal policies, migration of ultra-high-net-worth families and the growing talent base that serves that space moving from the more mature markets, the only way is up.”

While currently smaller than other major hubs, Dubai’s trajectory is impressive. 

Yet there are benefits for families already there in this growth stage, as M/HQ’s Mrazek notes. 

“Unlike more mature markets, Dubai’s family office ecosystem is still evolving, which means families have direct access to regulators, and a say in how the framework develops. It’s an incredibly dynamic place to be right now.”

In less than a decade, Dubai has evolved from newcomer → global powerhouse for family wealth. It’s home to +1,000 family offices and hosts the Dubai International Financial Centre (DIFC), home to 100 + private banks, MFOs, and wealth managers, plus the DIFC Family Wealth Centre, the world’s first government-backed body dedicated to family businesses and offices.

The DIFC enables 100% foreign ownership, English common-law courts and a robust financial-services regulation.

Why family offices choose Dubai:

Many FOs still keep their fund structures or SPVs offshore (Cayman, BVI, Guernsey), but Dubai is fast becoming the HQ of choice for lifestyle, connectivity, and regulatory credibility. The ecosystem now includes GPs, VCs, PE firms, and angel syndicates, plus an emerging FO-to-FO co-investment culture.

Dubai (and the wider UAE) remains one of the world’s most tax-efficient jurisdictions, especially for individuals.

Corporate taxation: A 9% federal corporate tax took effect in June 2023. Qualifying Free Zone income may remain 0%, provided it meets “qualifying activities”. There is no withholding tax on dividends, interest, or royalties. And no exchange controls: capital and profit repatriation are unrestricted.

Dubai offers a truly global lifestyle — and the reality mostly lives up to the marketing.

It’s clean, safe, and heavily policed; crime rates are among the lowest globally.
Infrastructure is first-class, and rules are clearly defined — and enforced.

Yes, summers are brutal. Most residents decamp to Europe in July/August.
But Dubai is no longer just a playboy playground — it’s now a serious wealth hub attracting hedge-funds, private-equity groups, and institutional investors.

Pros

Cons

-