SP TOP

Introduction of VAT in the Gulf Makes the Family Office Industry Flourish

Up until last year, the existence of the family office in the Middle East was barely noticeable. According to a Family Capital report of 2016, “There are maybe just five family groups in the UAE that could be said to have set up sophisticated family offices,” says Fathi Ben Grira, CEO of Menacorp, an Abu Dhabi-based corporate financial group. “May be a few more in Saudi Arabia and a few in Kuwait, but there are really not a great deal of well organised family offices in the region.” Menacorp is owned by ...

Ayaltis to Set Shop in Hong Kong

The rising rich in China are churning out a large amount of wealth and most of that is bound for Hong Kong, making it among the top three places with the highest number of family offices in Asia. Recently, Hong Kong has drawn the attention of a Swiss hedge fund - Ayaltis, as the chosen location to set up their family office. Mr. Hao Shao, General Manager at Ayaltis, who is heading the family office set up operations in Hong Kong sheds lights on the market, “the Chinese total HNWIs’ wealth stands at $7 trill...

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