Equiom Group, a global professional services provider, has been granted a license by the Dubai Financial Services Authority (DFSA) to operate as a Trustee for private and corporate clients in the Dubai International Financial Centre (DIFC).
The Hong Kong-based Equiom launched its first DFSA regulated business in the DIFC in 2019 as a branch of its Isle of Man office before changing its license over to a fully-fledged subsidiary under the new operating name of Equiom Fiduciary Services Middle East Limited.
This new license builds on the organization’s growing presence in the Middle East and will provide a wider breadth of services for the group in the region. The subsidiary will see the introduction of a full range of trust and fiduciary services, the ability to establish and administrate Trusts and Foundations for private and corporate clients around the world, as well as the ability to operate Employee Money Purchase schemes in the DIFC.
“This is a truly exciting time for Equiom. Holding a local trustee license will allow us to increase our range of services to clients locally while harnessing the breadth of Equiom’s global reach to also attract business from other parts of the world. Equiom continues to focus on meeting the individual requirements of high & ultra high-net-worth individuals and corporations by offering them a full range of trust and fiduciary services. With the milestone of establishing a Trust company in the DIFC, Equiom is delivering on its promise to get closer to its clients in the region and support families with their wealth planning needs.”
Equiom has been serving clients and wealthy families in the Middle East for decades and has significant experience in helping families with estate and succession planning and asset protection. Equiom has a deep understanding of the requirements in the region and works closely with local external expert legal professionals to ensure that clients’ needs are fully met.
It will also continue to assist employers with bespoke arrangements and structures to fund their existing and future End of Service Gratuity obligations or provide Workplace Pension or Savings benefits to their employees.