Family Office Setup in Dubai: Structure, Types and Steps

Team 10xM

— 4 min read
Family Office Setup in Dubai: Structure, Types and Steps

Dubai isn't just about luxury skyscrapers and lavish lifestyles anymore. It’s fast becoming a global wealth hub—and family offices are at the heart of this transformation. More and more ultra-high-net-worth individuals are setting up shop in the UAE, and for good reason. It’s not just the tax perks; it's the access, the ease, and the sheer global connectivity that Dubai offers.

What Is a Family Office?

A family office is a private advisory entity dedicated to managing the financial, legal, and personal needs of a wealthy family. It acts as a central hub for everything from investments and tax planning to estate management and lifestyle coordination. Think of it as your financial command centre—streamlining decisions, preserving wealth, and planning for the generations to come.

Key functions of a family office

  • Investment planning
  • Tax optimization
  • Legal structuring
  • Succession planning
  • Philanthropy management
  • Lifestyle services (yes, even travel planning and private schooling!)

Single-family office vs. multi-family office vs. virtual family office

Single-family office (SFO)

Designed exclusively for one ultra-high-net-worth family, this model offers full control over every financial and operational decision. It provides privacy, customization, and direct oversight—but comes at a higher operational cost due to dedicated resources, staffing, and infrastructure.

Multi-family office (MFO)

A more cost-effective model, the MFO pools resources to serve multiple families under one umbrella. Services like investment management, estate planning, and compliance are shared, reducing costs while still delivering high-quality expertise. It's ideal for families that want the benefits of a family office without the full overhead.

Virtual family office (VFO)

A rising trend, especially among tech-savvy or globally dispersed families, the virtual model leverages digital platforms and outsourced partners to manage family office functions. No physical office, minimal in-house staff, and maximum flexibility. It's lean, agile, and perfect for families who prioritize efficiency, privacy, and tech-driven oversight over traditional setups.

Why Dubai Is Ideal for a Family Office

Dubai has cracked the code on attracting global capital, and it's not by chance. Through a mix of visionary leadership, business-friendly policies, and world-class infrastructure, the city has positioned itself as a top destination for global wealth. It’s more than a playground for the ultra-rich—it’s a strategic base for wealth management, investment diversification, and long-term legacy planning. Here’s why it’s a magnet for the wealthy:

Tax advantages

No income tax. No capital gains tax. No inheritance tax. Enough said.

Strategic geographic location

Perfectly positioned between East and West. Great for global business and wealth diversification.

Strong financial infrastructure

Home to global banks, top-notch consultants, and wealth management firms.

Government support and regulatory ease

The UAE government has created smooth pathways for foreign investors. DIFC and ADGM are tailored for financial operations.

Key Steps to Set Up a Family Office in Dubai

Setting up a family office in Dubai is a strategic journey that involves careful planning, strong execution, and expert guidance. Here’s a more in-depth look at each step:

Step 1: Define your goals and structure

The foundation of your family office begins with purpose. Are you focused on preserving multi-generational wealth, expanding your investments, creating a succession plan, or launching a philanthropic arm? Some families prioritize privacy and control, while others seek scalability or access to external expertise. Defining your purpose will influence whether you choose a single-family office (SFO) or multi-family office (MFO), the legal setup, staffing, and even jurisdiction.

Step 2: Choose the right jurisdiction

Dubai offers multiple regulatory zones, each with its own nuances:

  • DIFC (Dubai International Financial Centre): The go-to for financial institutions and sophisticated investment strategies. Regulated by DFSA, it provides legal clarity, arbitration, and access to top-tier service providers.
  • ADGM (Abu Dhabi Global Market): Similar in prestige to DIFC, but often preferred by families seeking a more boutique and forward-looking regulatory environment. FSRA governs this zone with equal rigor.
  • Mainland: Suitable for families with operational businesses or those wanting to keep the family office less financially regulated and more operationally agile. The choice will impact tax efficiency, regulatory obligations, and the ease of doing business globally.

Once you’ve selected your jurisdiction, it’s time to establish the entity. This could be a:

  • Private limited company (for flexibility and operations)
  • Foundation (ideal for estate planning and philanthropy)
  • Trust (great for asset protection and succession planning) Each comes with its own compliance requirements and benefits. Expert legal counsel is essential to ensure your setup aligns with local laws and your global footprint.

Step 4: Office setup and staffing

A successful family office is built on the shoulders of a capable, trustworthy team. Depending on your strategy, you may need:

  • A CEO or Managing Director to lead
  • Portfolio managers and investment advisors
  • Legal and tax consultants
  • Compliance officers and risk managers
  • Personal or lifestyle concierge teams Dubai's talent pool—bolstered by its international community and flexible visa regimes—makes hiring world-class professionals relatively easy. You can also outsource certain functions to specialized firms if you're going lean.

Step 5: Regulatory compliance and reporting

Staying compliant is non-negotiable, especially in financial zones like DIFC and ADGM. You’ll need to:

  • Register with DFSA or FSRA, depending on jurisdiction
  • File annual audits and financial statements
  • Adhere to AML and KYC regulations
  • Keep internal governance and documentation airtight Failure to comply can lead to penalties or license revocation. The key is to embed compliance into your operations—not treat it as an afterthought.

Each of these steps requires meticulous attention, but when executed well, they lay the groundwork for a family office that’s not only efficient but also enduring across generations.

Why choose 10xM Luxe?

At 10xM, our approach is built around global families—we design tailored structures and offer multi-jurisdictional planning that aligns with your unique legacy, no matter how complex or expansive. We bring deep financial expertise, crafting strategies that go beyond investment returns to ensure tax efficiency, risk management, and intergenerational wealth planning. But we also know that no two families are alike. Our advisory approach is completely bespoke—your values, your goals, and your legacy drives how we build and manage your family office. We’re not here for quick wins—we’re here for the long haul, building a relationship that evolves as your family does. If you're ready to build a family office that truly reflects who you are, 10xM is ready to walk the path with you. Get a free consultation from our experts.

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