Middle East Private Client Market: Key Trends and Opportunities

A recent roundtable discussion brought together leading private client lawyers, tax advisors, and investment migration specialists to examine the evolving Middle East market and its growing sophistication in wealth structuring and international mobility.

Regional Growth and Sophistication

The UAE and Saudi Arabia are experiencing unprecedented growth, with offshore financial centres like DIFC and ADGM now considered global jurisdictions in their own right.  The introduction of corporate tax in the UAE at 9% has created new structuring challenges and opportunities. Many businesses are relocating to avoid the tax, while others are adapting their structures. This has benefited traditional offshore centres like Jersey, which continues to attract redomiciliation work from Caribbean jurisdictions facing regulatory challenges.

In relation to Jersey’s position as a leading global offshore finance centre, Chris Mourant from Fairway Group noted that “Jersey is seen as a global leader when it comes to private wealth structuring. The UAE has done a fantastic job in a short space of time but without tried and tested structures that have been challenged, it is difficult to match the certainty that Jersey offers. The DIFC and ADGM are still maturing but they can play a role in Jersey’s offering. 

In relation to the UAE corporate tax regime, Chris said “The UAE has perhaps jumped the gun slightly in terms of compliance with the Pillar 2 framework establishing a global minimum corporate tax rate. Jersey has seen a rise in cases where clients have been managing and controlling foreign companies from within the UAE and inadvertently being caught under the 9% UAE corporate tax regime. This feeds into the importance of demonstrating exemplary corporate governance, something which Jersey is well known for.”

Cultural and Social Transformation 

One of the most striking and encouraging developments is the cultural shift taking place, particularly in Saudi Arabia. Victoria Yates from Collas Crill shared her experience visiting Riyadh for the first time: "I was blown away by how welcoming everyone was and how many initiatives had been introduced focussing on empowering women to contribute to the economy. Lots of people said a huge amount has changed even in the last five years." This reflects a society undergoing rapid transformation, with more space opening up for women in both public and professional life.

Most notably, the rise of women in business leadership marks a significant step forward for improving gender equality. Yates described meeting women who confidently declared, "We're running the family businesses and we need share option schemes to make sure we get the money out during our father's lifetime." This not only signals a powerful shift in family dynamics and succession planning but also demonstrates how women are actively asserting their economic rights and shaping the future of business in the region.

Generational Wealth Transfer Challenges

The transition from first to second generation wealth presents unique challenges. Many families have sophisticated structures - trusts, foundations, family councils - but struggle with implementation and communication. As one participant noted, "the documents aren't the issue, the structure isn't the issue. The issue is that you're dealing with this huge wealth transfer from first generation to second."

UAE Foundations have emerged as the preferred vehicle for structuring local assets, though advisors caution against overselling them for smaller holdings. The combination of UAE Foundations for local assets and Jersey structures for international assets is becoming increasingly common.

Diversification and Vision 2030

Saudi Arabia's Vision 2030 is driving significant diversification into technology, healthcare, and e-gaming. The Kingdom is actively professionalizing its workforce and attracting international talent. One advisor noted the sophistication of Saudi clients: "I went in believing that I had a lot to share and I came away thinking, actually you are far more sophisticated as an audience than I'd anticipated."

The focus extends beyond oil, with major infrastructure projects including NEOM creating substantial structuring opportunities for data centres and technology investments.

Global Mobility Trends

Investment migration is surging across the Middle East. Andrew Perchtold from Henley & Partners provided some interesting application statistics:

- Israel is the 9th largest nationality for applications so far in 2025

- Lebanon is the only other Middle Eastern country in the top 20, at 14th

- Applications from Middle Eastern nationalities grew 10% in 2023 and another 2% in

2024. It is on track for similar growth in 2025.

- In terms of ‘address country’, the UAE is currently the second most significant source of applications (after the USA), but this is primarily due to expatriates of other nationalities living in the UAE. There are very few applications from UAE nationals.

For statistics on enquiries, he noted the following trends:

- Enquires from Middle Eastern nationalities have seen significant growth over the last few

years. Enquires increased 45% in 2023 and another 74% in 2024.

- So far for 2025 the highest number of enquires in the region comes from Saudi Arabia

nationals. This is followed closely by UAE, which was highest in 2024.

- Enquiries from Saudi Arabia nationals increased by 261% in 2024. Enquires from UAE

nationals increased by 310% in 2024.

- Saudi Arabia is the 18th biggest nationality for enquiries overall so far in 2025, and the

only Middle Eastern nationality currently in our top 20.

This reflects a broader "Plan B" mentality, where wealthy families maintain regional residence while securing alternative passports and residency options. The approach is often portfolio-based, with families acquiring multiple visa options rather than relocating permanently.

UK Immigration Dynamics

Despite the absence of an investor visa, the UK continues to attract Middle Eastern families, primarily for education and lifestyle reasons. Those not on student visas often exhaust visitor visa options before seeking proper immigration advice. 

Immigration specialist Zoe Jacob, Partner at Boodle Hatfield, noted renewed government interest in an investor visa, potentially targeting key industries like engineering, technology, and AI to complement the new FIG tax regime.

US Connection and Tax Implications

Many Middle Eastern families send children to the US for education, creating complex tax structuring needs. The current political climate has sparked increased interest from US citizens seeking alternative arrangements, with some establishing UK tax residence under favorable treaty provisions.

Martin Scullion, Partner at Buzzacott in London said, “We are seeing increased urgency among Middle Eastern families with US ties to proactively address tax exposure, particularly where children are studying in the US or hold US citizenship.”

Chris Mourant also noted: “Fairway are seeing a real uptick enquiries from the US. Although the primary driver may be political uncertainty, there is still a number of Middle Eastern families who send their children to the US to be educated. We believe that there will be more enquiries relation to Middle Eastern families with US connections or touchpoints. 

More broadly, there are more and more merger and acquisition transactions that are being backed by sovereign wealth funds which ties into the regions diversification away from reliance on oil. Vision 2030 is accelerating a number of projects within Saudi but perhaps the most budding trend is that of e-gaming and the structuring of data centres.”

Looking Forward

The Middle East private client market is characterized by increasing sophistication, cultural transformation, and growing international mobility. Traditional offshore centres must adapt to work collaboratively with regional financial centres while addressing complex family dynamics and generational wealth transfer challenges.

The region's diversification efforts, combined with cultural shifts toward greater gender equality in business leadership, are creating new opportunities for advisors who can navigate both technical structuring requirements and evolving family dynamics. Success requires understanding not just the legal and tax frameworks, but the cultural sensitivities and aspirations driving this remarkable transformation.