Navigating the New Era of Wealth Management in the UAE with Henley & Partners’ Head of Middle East

At the recent Hubbis Wealth Solutions Forum in Dubai, Philippe Amarante, Head of Middle East for global leader in residence and citizenship by investment, Henley & Partners, offered a captivating look into the emerging paradigms of private wealth. With the stunning backdrop of the forum’s venue serving as a metaphor for the grandeur of the UAE’s achievements, Philippe embarked on an in-depth exploration of the region’s rapid development, its increasingly dominant role in global finance, and its pioneering advances in the cryptocurrency landscape. Drawing from the breadth of Henley & Partners’ expertise and recent industry reports, he presented a comprehensive view of the factors shaping the world of wealth and investment in the UAE and beyond.

Greeted by an engaged audience, Philippe began by expressing his intent to keep his session both engaging and enlightening. Reflecting on the forum's setting, he remarked, “It's always a pleasure to be here. The venue is truly impressive, and I'd like to extend my appreciation to previous speakers who have added a touch of inspiration to today's proceedings.”

A Tripartite Approach

Elaborating on his presentation's structure, Philippe mentioned he had prepared three key chapters for discussion. With a touch of humour, he added that he'd incorporated images designed using his “infant AI skills”, hoping they'd be well-received by the audience.

Discussing the significance of the forum's theme, he highlighted, “I believe it's valuable to lean on expert insights, such as those found in UBS' recent wealth reports, which put a considerable focus on private wealth.” He further underscored the importance of understanding global client engagements, stating, “This forum, with its emphasis on wealth solutions, prompts a pertinent inquiry: How do we perceive our engagements with the global ecosystem, and what components can we foresee shaping the future?”

Philippe then provided a brief overview of Henley & Partners, noting the company's expansion. “For those familiar with our previous presentations, you might notice a change in our slides. We've recently marked our presence in the United States with new offices in Miami, New York, and Los Angeles.” He emphasised the significance of this move, adding, “It's notable, the growing interest we're seeing from the American market, both from private clients and advisers, keen to understand more about the UAE and its increasing prominence in the world of private wealth.”

The UAE's Resilient Strategy and Rising Prominence

Philippe then went on to applaud the UAE's adeptness during the COVID-19 period. He stated, “The underlying fundamentals of the UAE's positive trajectory are many,” emphasising that these elements significantly resonate with Henley & Partners’ clients and partners.

In the context of the global arena, Philippe remarked, “When we switch on CNN, we witness geopolitical tensions.” However, he juxtaposed this against the UAE's stability and its growing prominence in client discussions.

Highlighting the effectiveness of the UAE's governance, he said, “It's not just about the leadership's vision here. It's the efficiency of implementation that impresses.” He also shed light on the ambitious partnership between DET and Hong Kong, aiming to fortify Dubai's global standing.

Philippe touched upon the essence of gatherings like the Hubbis Forum, stating, “It's in spaces like these that we learn, grow, and navigate challenges and opportunities.” He addressed the prominence of Dubai's real estate market and pointed out the country's undeniable economic momentum, notably mentioning, “Tourism is booming, Dubai's airports and hotels are bustling.”

A focal point of his talk was the UAE's golden visa program. He quipped, “It's raining golden visas here,” stressing the impressive volume.

Philippe then highlighted the influx of professionals to the UAE and its ripple effects on industry standards. He noted the region's growing significance in IPOs, next-generation wealth transfer, and the ascent of family businesses.

Delving into Cryptocurrencies: A New Frontier

Philippe then turned his attention to the emerging realm of cryptocurrency. He highlighted the timely launch of Henley & Partners’ 'Crypto Wealth Report', the first of its kind, and urged attendees to explore it for relevant insights.

A significant theme was Dubai's growing reputation as a welcoming hub for cryptocurrency specialists. Philippe noted,

“More crypto millionaires are approaching us for strategic advice, including golden visas.”

He highlighted the increasing inquiries from governments eager to shape regulations to cater to this emerging market. Philippe remarked that the focus was not only on the cryptocurrency trend but more broadly on technology.

Contrasting The UAE with Global Players

Introducing Henley & Partners’ 'Crypto Adoption Index', Philippe explained it as an analytical tool assessing the most suitable investment migration jurisdictions for cryptocurrency investors. He shared, “Drawing from various data sources, including the World Bank and official government statistics, the index is the first of its kind.” He emphasised the UAE's leading position in the index, underlining its successful model and its strong fundamentals making it so attractive. He contrasted the UAE's achievements with other jurisdictions, including Singapore and Switzerland, indicating that many are now recognising the opportunities the UAE presents.

Showcasing the UAE's triumphs, Philippe presented a case study. He narrated the journey of a tech leader in blockchain with global operations who, dissatisfied with the services in his native jurisdictions, found Dubai to be the “right partner” for business. He observed, “This individual not only relocated most of his assets to the UAE but also moved businesses from multiple jurisdictions, hiring hundreds here.” He added that this story encapsulates the allure of the UAE for business visionaries.

Bringing his presentation to a close, Philippe emphasised the potential opportunities the UAE offers and encouraged attendees to familiarise themselves with Henley & Partners's Crypto Wealth Report. Gratefully acknowledging the audience's attention, he said, “If there are any questions or if you wish to delve deeper, please feel free to reach out, and do download the report. Thank you very much.”

Want to get involved in future events? Save the date of our Hubbis Wealth Solutions Forum – Dubai 2024, which takes place on Wednesday 11th September.

You may also wish to save the date of our other Wealth Solutions Forums taking place in 2024 –

• The Hubbis HNW Insurance Summit – Dubai which takes place on Wednesday 1st May 2024.
• The Hubbis Wealth Solutions Forum – Singapore which takes place on Wednesday 5th June 2024.
• The Hubbis HNW Insurance Summit – Singapore which takes place on Wednesday 4th September 2024.
• The Hubbis Wealth Solutions Forum – Hong Kong which takes place on Wednesday 23rd October 2024.

Want to find out more about how you can drive your connectivity within the wealth management industry in Asia and the Middle East? Get in touch at [email protected] to find out our Partnership Opportunities for 2024.