Family Offices in the DIFC

In 2008 the Dubai International Financial Centre (DIFC) established a legal and regulatory framework for family offices working in the centre as part of its new Family Office Initiative, which aims to provide comprehensive infrastructure solutions for families and family businesses operating in the Middle East.

A family office may be described as a private office set up by a single family for the purpose of managing the wealth and assets of that family. Family offices are popular legal entities in the Middle East due to the large number of businesses that are family owned. Reportedly, approximately 75% of businesses in the region are family owned, with an estimated total value of between $500 billion and $1 trillion.

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