Octagon, the first company to offer a one-stop solution for all family office consulting needs and the creator of the “Family Office as a Service” model, has officially entered the UAE market.
This move comes after Octagon had a “soft launch” in the UAE for several months, about its modern service portfolio quickly expanded.
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Octagon operates the ‘Family Office as-a-Service’ (“FOAS”) model, which takes an internationally proven business model, outsourcing, and adapts it to fascinating and rapidly developing businesses – family offices.
Octagon offers the following services to meet the needs of both newly incorporated and established family offices:
- Asset Management (Investment, legal, tax, structure);
- Corporate Services (Incorporation/Banking);
- Business Management (Governance, Accounting, HR);
- Business Development (Consultancy, M&A, market entry); and
- Lifestyle (Real estate, education & health, other services)
Given the rise of family offices worldwide, the UAE’s appeal as a jurisdiction for incorporation, and the impending massive intra-generational wealth transfer, Octagon’s entry into the UAE market is ideal.
Contemporary UNHWIs and HNWIs have distinct wealth management philosophies, more diversified portfolios, and a stronger emphasis on technology and impact.
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By GlobalDataThis confluence of characteristics creates an opportunity for creative approaches, such as Octagon.
According to Wealth-X, by 2030, the transfer to the next generation would be valued at $18.3trn. With its strong economic growth, the UAE is marketed as a destination for wealthy families from around the world.
With its headquarters located in the UAE, Octagon primarily serves families in the MENA region, but it also operates in Europe, Asia, North and South America, and Southern Africa.
Ekaterina Chernova, co-founder at Octagon, stated: “I am thrilled Octagon has entered the UAE market – a country rapidly becoming a global hub for Family Offices. The current market environment is compelling, and word-of-mouth seeking our services has been very powerful.
“Modern families – wherever they are in the world – are increasingly drawn to the UAE and want innovative advisors and services. Our Family Office as-a-Service model has been very attractive to them – being able to resolve their complex needs. We are excited to contribute to the UAE’s growth story and help our clients navigate the challenges of running a Family Office, managing their wealth and saving them valuable time.”
Andrei Marcenco, co-founder at Octagon, added: “I am delighted that Octagon has entered the UAE market, a region swiftly establishing itself as a global centre for Family Offices, at a time when their need is evident worldwide.
“Following a successful soft launch, we have already seen strong demand for our diverse range of services, including Asset Management, Corporate Services, Business Management, Business Development, and Lifestyle services. We look forward to contributing to the UAE’s growth story and helping our clients manage their wealth and save precious time.”
