The Role of Domiciles
Oct 23 - 27. 2017
Tax residency and jurisdictions are very important considerations for family offices, particularly given the increasing global nature and mobility of wealth. Choosing a domicile also has a major impact on the estate planning process. Making the right choice facilitates estate planning goals such as tax efficiency, asset protection and passing wealth to the next generation through a variety of vehicles, such as trusts.
Introduction of VAT in the Gulf Makes the Family Office Industry Flourish
Up until last year, the existence of the family office in the Middle East was barely noticeable. According to a Family Capital report of 2016, “There are maybe just five family groups in the UAE that could be said to have set up sophisticated family offices,” says Fathi Ben Grira, CEO of Menacorp, an Abu Dhabi-based corporate financial group. “May be a few more in Saudi Arabia and a few in Kuwait, but there are really not a great deal of well organised family offices in the region.” Menacorp is owned by ...READ MORE
Ayaltis to Set Shop in Hong Kong
The rising rich in China are churning out a large amount of wealth and most of that is bound for Hong Kong, making it among the top three places with the highest number of family offices in Asia. Recently, Hong Kong has drawn the attention of a Swiss hedge fund - Ayaltis, as the chosen location to set up their family office. Mr. Hao Shao, General Manager at Ayaltis, who is heading the family office set up operations in Hong Kong sheds lights on the market, “the Chinese total HNWIs’ wealth stands at $7 trill...READ MORE