Dubai, September 2, 2025 – The United Arab Emirates is witnessing a surge in the establishment of family offices, as wealthy individuals and ultra-high-net-worth families relocate to the Gulf state, lured by its tax-friendly policies, streamlined regulations, and growing reputation as a hub for innovation and digital assets.
Among them is British tech entrepreneur Kingsley Advani, who left the UK a decade ago, citing “poor governance, a poor tax regime and a weak business environment.” Today, Advani runs his own Dubai-based family office managing his wealth and investments, alongside a co-investing platform for other family offices. For him, the appeal of the Emirates is straightforward: efficiency, opportunity, and a welcoming environment for crypto investors.
A Magnet for Millionaires
A family office is a private wealth management firm offering financial and investment services to ultra-wealthy families, often with dedicated teams handling everything from tax and estate planning to portfolio diversification.
The UAE has become a top destination for such entities, with record numbers of millionaires expected to relocate in 2025. According to the Wealth Migration Report 2025 by Henley & Partners and New World Wealth, the country is set to attract 9,800 millionaires this year, more than any other global hub. In contrast, the UK faces a net outflow of 16,500 millionaires, its sharpest decline in a decade, driven by sweeping tax reforms.
Dubai alone was home to 81,200 millionaires and 20 billionaires in 2024, and observers say the trend is only accelerating.
“I considered Singapore in 2018, but the UAE made more sense,” Advani said. “The paperwork is faster, there’s a 10-year golden visa residency, and the government is pro-crypto. Setting up entities here has never been easier.”
Why the UAE Stands Out
For many wealthy families, the UAE offers a unique blend of incentives:
Tax-free lifestyle and business-friendly regulations.
Political stability and strong personal security.
World-class infrastructure, education, and healthcare.
Global connectivity, bridging Asia, Europe, and Africa.
“The UAE is pro-innovation and pro-business,” Advani noted. “Compared to the U.S., building a family office here is far more cost-effective. You have access to talent from India and across Asia, and the overall costs are significantly lower.”
Arjun Mittal, founder of the Dubai-based Abbey Road Investment Group, believes the UAE has quickly caught up to traditional wealth hubs like Singapore, Hong Kong, and Geneva.
“Over the last three years, the UAE has built incredible ecosystems,” he said. “You now have investment advisers, lawyers, wealth structuring experts, even hedge fund talent moving in. It’s a complete package.”
Personal Stories Behind the Trend
For Shalini Wood, a blockchain entrepreneur who relocated from the Netherlands in 2023, the move was about both lifestyle and opportunity.
“The regulations in Europe were stifling innovation,” she said. “Here in the UAE, we benefit from tax advantages, foreign ownership rights, easy residency, and political stability. Since moving, our business has grown exponentially.”
Wood praised the country’s global outlook and family-friendly environment. “The connectivity, healthcare, education, and infrastructure are top-notch. For my multicultural family, the UAE is the perfect fit.”
Where the Wealth Flows
Family offices in the UAE traditionally invested passively in exchange-traded funds, but a shift is underway. Mittal says wealthy families are increasingly exploring private equity, venture capital, private credit, and crypto allocations.
Advani agrees, pointing out that the next generation of investors is more comfortable with high-risk assets such as Bitcoin, as well as private investments in companies like SpaceX, OpenAI, and Anthropic.
Wood, too, focuses on emerging technologies. “We’re investing heavily in blockchain and artificial intelligence,” she said. “It’s not just about profit anymore—it’s about global impact.”
Discretion and Networking
While some families prefer to remain discreet, others embrace their status more openly. According to Mittal, private wealth clubs are flourishing, and platforms like Prestel & Partner now host conferences in Dubai, bringing together family offices from New York, London, Singapore, and Zurich.
“These gatherings are vital,” said founder Tobias Prestel. “Every family office is different—some focus on legacy and succession, others on investment strategies. Peer interaction is invaluable.”
Building the Teams Behind the Wealth
As family offices multiply, demand for specialized staff is growing. Recruitment firms report surging interest in roles ranging from executive assistants and finance professionals to investment strategists and even ex-military personnel for chief-of-staff positions.
“Many family offices don’t have formal HR structures,” said Oscar Orellana-Hyder, co-founder of executive search firm Cordell Partners. “Hiring was often handled through networks, but that’s changing as offices professionalize.”
Zahra Clark, head of MENA for Tiger Recruitment, noted that salaries are competitive: executive assistants and finance roles often earn between AED 30,000 and AED 50,000 per month. “We’re relocating talent from London and other financial hubs to meet demand,” she added.
The Bigger Picture
For global wealth, the UAE is emerging as one of the most attractive destinations. With its regulatory agility, tax-free lifestyle, and openness to crypto, the country has positioned itself as a serious competitor to established wealth centers.
As Advani put it: “It’s a no-brainer. The UAE has built one of the most compelling packages anywhere in the world for family offices.”
For the world’s millionaires and billionaires, Dubai and Abu Dhabi are no longer just luxury playgrounds—they are the nerve centers of a new era in global wealth management.
