8 December 2024, Doha – Qatar: The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, hosted a Family Office Forum, bringing together key stakeholders and wealth management experts to discuss the evolving dynamics of wealth management, the challenges and emerging opportunities in the industry, and the strategies crucial for sustaining the growth of family enterprises.

The event featured Nicholas Warr, UK Senior Partner at Taylor Wessing, who delivered an insightful talk on the impact of affluence on future economies, and a dialogue between Peter Kaindl, Managing Director of Kronospan, and Dr Michael Schaden, Partner at EY, on succession planning. 

Warr’s talk offered a forward-looking perspective on how family wealth can drive transformative economic and societal change, underscoring how forward-thinking investments that align with environmental, social, and governance priorities can create sustainable legacies and influence global economic trends. The dialogue brought a practical and candid exploration of succession planning within family businesses. Drawing from the experiences of the Kronospan Group, the session highlighted the intricacies of leadership transitions and governance frameworks, offering valuable lessons in ensuring business continuity and long-term resilience.

The event also featured three in-depth panel discussions that addressed key aspects of family office operations and intergenerational wealth management. Topics included preparing future generations to effectively steward family legacies, diversifying portfolios to adapt to evolving economic landscapes and less traditional opportunities, navigating wealth transitions within the framework of Sharia law and regional legal systems, balancing family and individual rights in wealth transfer, and understanding the legal structures that support such transitions.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, highlighted the vital role of family businesses in economic stability: “Family businesses have long been a cornerstone of economies worldwide. As global markets evolve and business practices shift, this vital economic pillar must adapt to remain resilient. Recognising this, the QFC is deeply committed to supporting the growth and sustainability of the sector. As an organisation dedicated to driving economic diversification, we place emphasis on equipping family businesses with the insights and strategies needed to navigate challenges effectively and seize emerging opportunities to ensure their continued stability and long-term success.”

The QFC provides a variety of business structures designed to meet the unique needs of family enterprises. These options include Limited Liability Companies (LLCs), Holding Companies, Special Purpose Companies (SPCs), Foundations, and Trusts, each offering tailored support such as limited liability protection, centralised ownership frameworks, customised asset management solutions, and robust risk management capabilities. Complementing these structures is the QFC’s business-friendly regulatory framework, which features streamlined processes and competitive tax incentives, creating an ideal environment for family enterprises to thrive.