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Asia wealth managers head to Dubai as clients seek diversification



Asian wealth managers are increasingly setting up in Dubai, drawn by stronger China-Middle East ties and clients’ desire for geographical diversification. This trend sees Dubai becoming a key wealth hub for Asian entrepreneurs, especially from China. Notable firms like Noah Holdings are opening local offices to cater to Chinese business expansions in the region. The appeal of Dubai includes a post-Covid economic resurgence, a neutral political environment, tax-free benefits, and new initiatives like the ‘golden visa’. While Hong Kong and Singapore remain traditional wealth hubs in Asia, the Middle East, especially the UAE, is witnessing a rise in high-net-worth individuals. This shift is attracting global and regional wealth managers, including Singapore’s Farro Capital and Hong Kong’s Tsang Group, who are either establishing or planning new offices in the Middle East.

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