A growing number of Swiss family offices — both single- and multi-family — are relocating or expanding into Dubai, driven by mounting frustration over Switzerland’s regulatory burdens and looming tax changes.
According to legal and financial advisors, family offices managing billions are actively moving to the UAE, attracted by Dubai’s lighter regulatory touch and broader definitions of what qualifies as a “family” for compliance purposes. In contrast, Swiss regulations have tightened, requiring licenses and disclosures for entities managing assets above certain thresholds or serving multiple family branches.
Adding to this shift is political instability in Switzerland. A proposed 50% inheritance tax on large estates, while likely to be voted down, has nonetheless spooked wealthy families. The uncertainty alone has been enough to prompt some to reconsider Switzerland as a long-term base for wealth management.
Dubai’s appeal is also bolstered by its pro-entrepreneur environment, lifestyle perks, and generous investment incentives — especially compared to Europe’s increasing tax rates and the end of the UK’s non-dom status. In 2024, over 200 new family offices joined the Dubai International Financial Centre (DIFC), bringing the total to 800.
Experts say the exodus isn’t just about tax—it reflects a broader reassessment of Switzerland’s competitiveness in global wealth management, especially in the wake of Credit Suisse’s collapse. Meanwhile, some U.S. families are still considering Switzerland as a backup, hedging against political uncertainty at home.
