From Kuwait to Oman to Qatar: Why DIFC Keeps Appearing in Gulf Wealth Structures

Over the past weeks we had the opportunity to travel across the Gulf region – with meetings in Kuwait, Qatar and Oman – speaking with families, investment advisors, tax consultants and legal professionals.

Each country has its own vision, pride and rapidly evolving ecosystem. There is a strong sense of national identity and self-reliance: every jurisdiction in the Gulf wants to stand on its own feet, attract investment, and develop its own financial centre.

Yet despite this healthy regional competition, one pattern kept repeating itself in almost every discussion:

Families structure locally – but they anchor globally.

Local roots, global anchors

Whether a family is based in Kuwait City, Doha or Muscat, the same realities apply:

• Their assets are increasingly diversified:
• Real estate portfolios across different countries
• Listed equities, bonds and private investments
• Operating companies in multiple jurisdictions
• Lifestyle assets such as superyachts and private jets
• Their families are mobile: children studying abroad, family members living between the Gulf, Europe and sometimes North America.
• Their risk profile is international: regulatory changes, tax rules, banking relationships and geopolitical dynamics do not stop at national borders.

The result is that, even for very locally rooted families, it rarely makes sense to keep all structures entirely domestic. Instead, we see regional and global “anchor jurisdictions” being used to consolidate holdings, centralize governance and create a robust long-term framework.

And in the Gulf, one of these anchors came up in almost every conversation.

DIFC: the recurring common denominator

Across meetings in Kuwait, Qatar and Oman, DIFC (Dubai International Financial Centre) was mentioned again and again – often spontaneously, and not by us.

Without taking anything away from other excellent centres in the region, it is clear that DIFC has become a sort of “default reference point” for sophisticated families and their advisors.

Why?

From our conversations, a few themes stood out:

1. Familiar legal environment
   DIFC is based on English common law principles, with its own independent courts. For many families, this feels familiar, predictable and internationally recognisable – especially when dealing with cross-border disputes, multi-generational planning or institutional investors.
2. Credible, recognisable regulation
   The DFSA (DIFC’s regulator) is well known to international banks, asset managers and institutional investors. When a structure is regulated or domiciled in DIFC, it tends to be easier to explain and to gain comfort from external counterparties.
3. Concentration of financial and professional services
   DIFC has become a dense ecosystem of banks, asset managers, law firms, accounting firms and corporate service providers. For Gulf families, this creates a one-stop hub: from one jurisdiction, they can manage investments across the world.
4. Bridge between the Gulf and the world
   Dubai’s role as a global hub – with direct connections to Europe, Asia, Africa and the Americas – reinforces DIFC’s appeal. It combines regional proximity with truly global access.
5. Flexibility of structures
   From holding companies and SPVs to foundations, funds and family investment platforms, DIFC offers a wide range of vehicles that can be adapted to different needs:
• Consolidating operating businesses under one holding
• Structuring co-investments with other families or partners
• Creating governance frameworks around family assets
• Preparing for succession in a clear and orderly way

In many of our meetings, the conclusion was similar:

“We want to keep our business roots in our home country, but we want our capital structure to sit somewhere neutral, credible and globally recognised – and DIFC feels like the natural choice.”

DIFC and ADGM – complement, not competition

It is worth highlighting that ADGM (Abu Dhabi Global Market) is also a highly respected international financial centre with strong regulation and ambitious growth. In certain cases and sectors, ADGM structures may be the preferred solution.

What our latest trip showed, however, is that in the perception of many families and advisors across the Gulf, DIFC is still more top-of-mind – especially as the first port of call for private wealth, family holdings and investment platforms.

This is not about “better” or “worse”; it is simply an observation of market perception today. Both centres are important pillars of the UAE’s financial landscape – and both will certainly continue to evolve.

Switzerland: still a cornerstone – but in a different way

Another constant in our discussions was Switzerland.

Even though fewer entrepreneurial families from the Gulf are looking to physically relocate there – preferring instead to spend more time in the UAE and stay closer to their core businesses – Switzerland remains a key jurisdiction for private banking and wealth preservation.

For many families, a combination of Swiss banking relationships and UAE-based structures (often in DIFC) is emerging as a powerful blend:

• Switzerland for asset custody, discretionary mandates and long-term wealth preservation.
• DIFC for holding structures, governance frameworks and access to regional and international investments.
• Home jurisdictions in the Gulf for operating businesses and real-economy activities.

In other words, the question is no longer “Should we choose Switzerland or the UAE?” but rather “How do we combine both intelligently?”

How TrustQore fits into this picture

At TrustQore, we see our role as helping families:

• Translate local ambitions into global structures
• Bridge between home jurisdictions (Kuwait, Qatar, Oman and others) and international hubs such as DIFC and Switzerland
• Design pragmatic, cost-effective setups – not structures for the sake of structuring, but frameworks that actually support the family’s long-term strategy

This can involve, for example:

• Setting up DIFC holding and governance structures for regional and global investments
• Coordinating with Swiss private banks to align portfolios with the overall family architecture
• Ensuring that operating companies, real estate assets, superyachts or private jets are held in a way that is sensible from a risk, tax and succession perspective

Our key takeaway from this latest trip through the Gulf is simple:

The future of Gulf wealth is proudly local – but structurally global.
And for many families, DIFC and Switzerland are becoming the twin anchors of that global architecture.

If you would like to discuss how this might apply to your own situation, or to your clients, the TrustQore team will be pleased to explore options in a confidential and pragmatic way.