The case

The longer the more, Dubai has been attracting Swiss family offices looking for a more favorable tax and regulatory environment.

Source: Financial Times, 2 May 2025

The commentary

According to a recent Financial Times report, two major Swiss family offices, one managing assets in the billions, are considering relocating to Dubai, with one already having made the move. This trend is driven by growing dissatisfaction with Switzerland’s regulatory environment and political climate. Tighter Swiss regulations, which require licensing for larger or multi-client family offices and mandate more disclosure, contrast sharply with Dubai’s more lenient and privacy-friendly rules, including a broader definition of “family.” The looming Swiss referendum on imposing a 50 % inheritance tax and ongoing political debates have further triggered unease. Dubai has seen a major influx, with 200 new family offices joining its offshore financial center last year, raising the total to 800.

Dubai offers several financial incentives that make it attractive to family offices:

Dubai does not impose personal income tax, capital gains tax or inheritance tax. While a 9 % corporate tax applies to profits exceeding AED 375,000 (approximately USD 100,000), businesses established in free zones may qualify for tax exemptions.

The Dubai International Financial Centre (DIFC) has introduced regulations that eliminate the need for single-family offices to register with regulators, providing flexibility to serve multiple families under a multi-family office structure without licensing constraints.

The UAE has an extensive network of over 100 double taxation treaties, facilitating international investments and trade.

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