Indian family offices are reassessing their global setups as rising geopolitical tensions in the Middle East begin to challenge Dubai’s long-standing reputation as a safe and stable hub. Increased conflict involving Iran has led to a noticeable uptick in enquiries about alternative jurisdictions, particularly Singapore, which is seen as offering greater stability despite stricter regulatory requirements.
At the same time, India’s GIFT City is re-emerging in discussions, although structural and regulatory limitations mean it is not yet a full substitute for offshore family office structures. While interest in domestic routes like family investment funds exists, progress has been slow, pushing families to explore other vehicles such as alternative investment funds.
Despite these shifts, there is no widespread withdrawal from Dubai. Many families remain committed for the long term, viewing the current situation as a temporary disruption rather than a fundamental change. However, caution is evident, particularly in real estate, where new investments are being reconsidered even as existing holdings are largely retained.
Overall, the trend is not one of exit but of diversification. Family offices are increasingly looking to balance geopolitical risk by expanding their geographic footprint and exploring more liquid, globally diversified investment strategies.
