Dubai: Succession planning issues arise: dividing family empires between thirty and forty children
Dubai: One of the World’s Densest Billionaire Hubs
Dubai has quietly become one of the most concentrated hubs of extreme wealth on the planet, eleven billionaires in a city of just two million people. But beneath the headlines, its private client market is sharply polarised. At one end are ultra-wealthy families whose fortunes come from sprawling regional business empires; at the other, a growing expat class sitting in the $5m–$20m wealth band, alongside a powerful non-resident Indian community. As Dubai matures, succession planning is moving to the top of the agenda, and the Dubai International Financial Centre (DIFC), with its English common law framework, tax-friendly regime and dedicated regulator, is positioning the Emirate as a serious global wealth management centre.
A Polarised Market: UHNW Family Empires vs Global Expats
With eleven billionaires amongst a population of only two million people, Dubai has one of the highest concentrations of the super- rich, according to data provider WealthInsight. However, Alastair Glover, a partner focused on advising private clients in the Dubai office of law firm Stephenson Harwood, says: “The market in Dubai is, perhaps, more polarised than other more mature financial centres. At one end of the spectrum, there are the ultra-high net worth individuals based in the region, whose wealth commonly stems from the family business empire. On the other, there are the expatriates, typically from the UK, US and other European countries, as well as a very substantial and successful non-resident Indian community. These expats are more often in the $5m-20m bracket, with the larger families with wealth well in excess of $100m.”
From Emerging Market to Mature Financial Centre
He says that this gap will close as Dubai continues to mature, and the demand for succession planning will increase as a result. A third stream of work comes from on-resident high net worth individuals increasingly choosing Dubai as a wealth management centre, thanks to the success of the Dubai International Financial Centre (DIFC). The attraction is the English common law system, a tax-friendly regime and its own regulatory system aimed at attracting financial institutions to the Emirate.
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A. Dubai’s combination of tax advantages, strategic global location, business-friendly regulation and strong infrastructure has attracted ultra-wealthy families and entrepreneurs. According to WealthInsight, the city hosts eleven billionaires within a population of just two million, making it one of the world’s densest hubs for extreme wealth.
A. High-net-worth individuals from around the world are choosing Dubai as a base for wealth management because of its:
Political stability
Favourable tax environment
Global connectivity
High standard of living
Regulatory certainty within the Dubai International Financial Centre (DIFC)
A. A significant portion originates from family-owned regional business groups, which have expanded across sectors such as real estate, logistics, retail, and energy. Expats tend to hold corporate, entrepreneurial, or professional wealth accumulated through global careers.
