Dubai Safe-Haven Family Offices Face Test as Gulf Conflict Persists

Dubai safe haven family offices are facing a meaningful stress test as prolonged conflict in the Gulf prompts some Asian family offices to reassess the emirate’s role as a neutral base for assets.

Advisers said enquiries about shifting portfolios or setting up secondary offices in Singapore and Hong Kong had risen sharply as US-Israeli strikes on Iran stretched into a third week.

Families were said to be prioritising contingency planning, liquidity and downside protection, while some multi-family offices also faced pressure from differing client risk appetites.

Even so, advisers noted that changes involving Dubai safe haven family offices could be slowed by the complexity of trusts, custodian accounts and financing structures.