by Henry Brandts-Giesen, Partner at Dentons.
When the newspapers began reporting on the abrupt nationalisation of private businesses in their home country, the Patel family, owners of a multi-generational construction company, were faced with a stark choice: stay, or act fast.
“My father always said, ‘Don’t wait for the storm to arrive—build your shelter while the skies are still clear,’” recalls Rina Patel, now the family’s chief wealth steward.
The Patel’s had quietly diversified some assets abroad, but the majority remained exposed to local political risk. As the regulatory climate deteriorated, Rina and her siblings convened a family council with their trusted advisors.
They decided to set up a holding company in Singapore, moved a portion of their savings to accounts in Switzerland, and applied for alternate residency in New Zealand. “It wasn’t just about moving money; we wanted to protect our employees, our legacy, and our freedom to innovate,” says Rina.
The transition wasn’t seamless.
Local authorities imposed new exit taxes, and some assets - like real estate - proved difficult to liquidate quickly. The family’s decision to act early, however, meant they avoided the harshest restrictions and preserved capital for future generations.
“We learned that prudence isn’t only about numbers—it’s about foresight, resilience, and the courage to adapt,” Rina reflects.
Their experience underscores an essential truth: in an uncertain world, human agency and family unity are the most powerful assets.
As Rina puts it: “Global headlines change overnight. If you’re holding the pen, you can write your own story.”
Chance favors the prepared
While the Patel example sheds light on one approach, how to prepare for and manage geopolitical and regional risk depends entirely on family circumstances and local politics.
In some countries there will be opportunities to engage constructively in public discourse and policy making. In liberal democracies this should, in theory, be possible.
Although that assumption may be challenged by those who distrust populist politicians, politicised media organisations, and radical progressive or regressive conservative agendas.
In countries with authoritarian governments, state controlled media, and no rule of rule it may be futile to engage in public discourse. Instead a more proactive approach may be required.
In all situations, prudent wealth stewards should be alive to present and potential future risks and take proportionate steps to be prepared. These might include:
Diversifying asset classes, custodians, currencies, and counterparty relationships by setting up wealth management accounts in neutral, stable, third countries / territories.
Setting up legal structures (like trusts, holding companies, and fund management companies) in neutral, stable, third countries / territories to hold and manage privately owned assets (like real estate, operating companies, financial assets, and commodities).
Setting up satellite family offices and obtaining alternate residency / citizenship for the family’s human capital in neutral, stable, third countries / territories.
Plan proportionately to assessed risk
Wealth stewards, wherever they are in the world, can take proactive steps to manage the risks of political and regime change in the countries where their family capital is most concentrated.
In my view, this should involve consideration of the movement of at least some financial and human capital to stable, neutral third countries whilst at all times ensuring local tax compliance.
The time to do this is well in advance of the feared political change and barriers to movement, such as exchange controls and exit taxes.
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Henry Brandts-Giesen is a leader in the Dentons Global Family Office (DFO) group, recognised globally for his expertise in the organisation and regulation of private wealth.
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