A family office is a private wealth management entity established to manage the financial and personal affairs of high-net-worth individuals (HNWIs) and their families.
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01
Centralized Governance
Family office consolidates management of various assets such as real estate, stocks, and private businesses under one entity.
02
Strategic Legacy Planning
Family office facilitates succession planning by creating legal structures, such as trusts or foundations, to transfer ownership of assets to future generations.
03
Professional Wealth Management
Family office engages financial experts to optimize asset allocation and risk management.
An SFO is established to exclusively manage the assets of a single individual or a single family.
An MFO serves multiple individuals or families and typically offers a broader range of services. Depending on the nature of these services, additional licenses may be required. MFOs are subject to stricter regulatory oversight, especially when providing restricted services like investment management or financial advisory.
01
For an SFO – a minimum AED 500,000 (USD 136,000) in liquid assets retained on account for at least 12 consecutive months, for an MFO - a list of family offices, individuals or family businesses that Multi Family Office wishes to service with supporting documentation such as passports, licenses, etc.
02
An SFO / MFO should have office space(s) in DWTC.
03
An SFO / MFO should be set-up as an independent parent entity, i.e. a license for a family office is a standalone license which does not allow to add or conduct any other activities under it (permitted activities include wealth and assets management, investment management, succession and financial management, management of legal affairs, administrative & concierge services).
01
Higher incorporation cost and longer compliance process upon establishment.
02
A confirmation that an individual or a family that an SFO or an MFO will serve owns in aggregate a minimum $50,000,000 in net assets.
03
An SFO / MFO should rent office space(s) in DIFC unless there is a waiver, which allows to use address of the corporate services provider as a registered address.
04
A standalone license which does not allow to add or conduct any other activities under it (permitted activities include wealth and assets management, investment management, succession and financial management, management of legal affairs, administrative & concierge services).
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