Intertrust Launches Its Middle East Wealth Report

Author:Mr Ian Rumens, Patricia 't Hart-van Rooijen, Brian Carey and Alison Parry

Intertrust recently surveyed professional advisors servicing clients based in the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain to examine their views on wealth structuring, the rise of families with a global mindset and succession planning.

From the results of this survey, we have now published our Middle East Wealth Report.

Wealthy Middle Eastern families are adopting an increasingly global mindset, and this is having a profound impact on their wealth structuring strategies with greater adoption of sophisticated structures such as Family Offices and special purpose vehicles, according to the report.

74% of advisers expect high net worth families in the Middle East to adopt a more global mindset Family Offices, special purpose vehicles and corporate structures predicted to rise in popularity 83% of respondents believe concerns over political stability is the main driver behind structuring outside the region Almost three-quarters (74%) of advisers expect high net worth families to become more global over the next five years, driven primarily by the next generation's desire to expand their business interests beyond the region. As a result, the research underlines a growing demand for legacy plans to be based on international best practice (58%) and greater awareness of the impact of governance and regulation (58%).

The study revealed concerns over political stability as the key driver behind structuring outside of the region, which was cited by 83% of respondents. This has galvanised many families into focusing on their affairs and taking the necessary steps to safeguard their assets. Other drivers are the popularity of overseas education (57%); increased access to global tech-enabled financial solutions (53%) and better travel and communication links, enabling Middle Eastern families to take...

To continue reading