Boston Multi Family Office, which has its headquarters in Douglas, 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 Island-based commercial multi-family office offers a range of trust and corporate services to ultra-high net worth individuals from 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.
Group Director Katherine Ellis commented on the expansion, saying, “We have been building a profitable book of business in the Middle East for some time now, making good use of the Isle of Man’s amazing international reputation for wealth management to help bring structure to the international assets of wealthy Middle Eastern families. Establishing a permanent office there means further growth for us in this rapidly developing market, which will in turn benefit our existing operations in the Isle of Man and Malta.”
Peter Casey, formerly an Associate Director of Arbuthnot Latham, has been announced as the Managing Director of the new Dubai 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 me is to take this amazing product out to the wider wealth management community and demonstrate that potential.”
Photo - Peter Casey.