Contemplating the use of offshore structures for Middle Eastern clients
Monday 02 July 2018
At the recent ‘Cross Border Planning for the Private Client’ event in Dubai, Gary Hales, Head of Equiom Fiduciary in the Middle East was one of the panellists in a discussion entitled, ‘How can Offshore Structures be used effectively for Middle Eastern Clients?’ He recalls the event and the main themes of the discussion.
Overall, the event was well attended. We received very positive feedback on our panel and the audience found the contribution from our panellists to be very informative and insightful.
Surrounded by private client specialists from across the globe, I joined colleagues, Richard Tribe, Head of Business Development - Europe and Jo Gorrod, Client Services Director along with Jerry Parks (Gowling WLG) and Munir Suboh (BSA Ahmad Bin Nezeem and Associates) in a stimulating discussion. The panellists considered a number of trends in the region such as changing regulations and the impact on the need for transparency versus the client’s right to privacy, as well as how and why offshore structures are being used by Middle Eastern clients.
High on the agenda was the continually changing legislative landscape and the need for structures that suit the succession plans of ultra high net worth individuals (UHNWIs). As a provider of a wide range of services relevant to this market, such as setting up trusts, corporate structures, UK tax advice and even yachting and crewing services, we are able to support the growth aspirations of individuals and their families. The recently launched Equiom Private Office is a great example of this where private clients can take advantage of a bespoke offering from Equiom that is built around their needs. With a foothold in the UAE following the acquisition of Links Group in 2016, Equiom is well placed to support the global interests of the client. This, coupled with a thorough understanding of the current generation and a highly experienced professional team on hand to cater to each individual situation, is what sets Equiom Private Office apart from the traditional family service of yesteryear.
If you would like to know more about how Equiom can assist you with your interests in the Middle East and beyond, please do not hesitate to get in touch with me.