Boston Multi Family Office has announced the opening of an office in the Dubai International Financial Centre (DIFC), solidifying the group’s long-term strategy of expansion in the Middle East.
The commercial multi-family office offers a range of trust and corporate services to ultra-high net worth individuals from offices in the Isle of Man and Malta, and now offers corporate services from Dubai. The newly incorporated DIFC entity, Boston Corporate Services (DFIC) Limited, is one of only a handful of global providers able to incorporate DIFC Special Purpose Companies. These legal entities are becoming increasingly popular as vehicles for international investments, corporate financing, and the creation of family office structures, due to their significant flexibility.
Peter Casey, formerly an Associate Director of Arbuthnot Latham, has been announced as the Managing Director of the new office. He commented, “The DIFC is a top-tier financial centre strategically located between the East and West, providing a stable and secure platform for businesses and financial institutions to tap into the emerging markets of the Middle East, Africa, and South Asia. Locally incorporated entities, and particularly SPCs, offer a huge range of potential benefits to wealth holders and creators. It is therefore a natural addition to Boston’s international service offering. The challenge for my team and I is to take this amazing product out to the wider wealth management community and demonstrate that potential.”
Group Director Katherine Ellis also commented, saying, “We have been building a profitable book of business in the Middle East for some time now, making good use of our onshore-EU Maltese offering and our offshore, non-EU Isle of Man offering to help bring structure to the international assets of wealthy Middle Eastern families. With this office we are investing further into that market. That not only means we are better able to support our clients in the region, it also means we have another powerful hub jurisdiction with its own potential benefits to offer to our existing client base outside of the region. We definitely expect to see inward investment into the DIFC through this venture.”