October 23, 2025
Once considered the preserve of only the ultra‑wealthy, single‑family offices (SFOs) are rapidly emerging as a mainstream wealth management model. Increasingly, affluent families are seeking structures that provide greater control, flexibility, and long‑term strategic clarity than traditional financial institutions can offer.
Unlike banks, asset managers, or private bankers, SFOs are dedicated exclusively to the interests of one family. Free from institutional sales pressures and fiduciary conflicts, they typically provide a broad suite of services, including:
Investment management
Estate and succession planning
Philanthropy and charitable giving
Lifestyle and concierge services
By consolidating these functions under one roof, families gain direct oversight of capital allocation, governance, and risk management. This not only strengthens intergenerational wealth transfer but also builds the infrastructure and mindset required to sustain prosperity over decades.
The family office sector has expanded at an extraordinary pace. Deloitte Private estimates there are now around 8,000 SFOs worldwide, up from 6,000 in 2019, with projections of 11,000 by 2030. Assets under management are expected to rise from USD 3.1 trillion today to USD 5.4 trillion by 2030 — a 73% increase.
This growth reflects both the rising number of high‑net‑worth families and the desire for more personalised, discreet, and strategic wealth management solutions.
Recognising the importance of SFOs to its financial services sector, the Malta Financial Services Authority (MFSA) has updated its regulatory framework to make the jurisdiction more attractive for family office structures. Recent revisions include:
Investment Services Rules for Notified Professional Investor Funds and related due diligence providers.
Trustees of Family Trusts Rulebook for Private Trust Companies (PTCs).
A PTC is a company established to act as trustee for a specific trust or trusts, serving a single family. Unlike public trustees, PTCs do not provide services to the general public and therefore benefit from simplified licensing and compliance requirements.
Key features include:
No minimum capital or assets under management requirements.
No obligation to submit a business model or strategy.
Lighter governance obligations (no statutory internal audit, risk management framework, or compliance officer required).
The MFSA has also broadened the legal definition of who qualifies as a family member or dependant in the context of PTCs. The updated framework now recognises:
Partners in stable, committed relationships living in the same household as the settlor.
Individuals with whom the settlor has descendants by blood, adoption, or affinity.
The definition extends further to include “family clients”, such as:
Former family members
Key employees (current or former) of a family office
Charitable organisations funded exclusively by family members or dependants
These provisions apply where:
The PTC is established within the context of an SFO.
The trust/family office has aggregate net assets exceeding €50 million.
A portion of assets is intended for investment in a Notified Professional Investor Fund.
The revised rules also allow Notified Professional Investor Funds to be managed by family office vehicles investing private wealth, without the need to raise external capital.
According to Stephen Griffiths, Managing Director of Sovereign Trust (Malta):
“This is an exciting and potentially critical time for wealth planning as we expect to see a large intergenerational shift in family businesses. Family offices are typically looking to diversify their investments and key assets geographically, and Malta has served as both an investment base for the European Union and a wealth structuring platform for EU and non‑EU high‑net‑worth families.”
Sovereign Trust (Malta) offers a comprehensive suite of services to support SFOs and high‑net‑worth individuals, including PTC establishment, trustee services, foundations, immigration and residency assistance, corporate governance consulting, and more.
The rise of single‑family offices reflects a broader shift in global wealth management. As families seek greater autonomy and long‑term stability, jurisdictions like Malta are positioning themselves as hubs for structuring and supporting these vehicles. With regulatory updates now in place, Malta offers a compelling platform for families looking to institutionalise their wealth management while retaining control.
On 25 July, Saudi Arabia published in its official gazette the Law of Real Estate Ownership by Non‑Saudis, which will take effect in early 2026. This legislation replaces the 2000 framework and introduces a more structured system for foreign ownership.
Unlike the previous regime, the new law explicitly allows both resident and non‑resident foreigners — individuals and corporate entities — to acquire property rights in designated zones. This is a significant shift, aligning with the Kingdom’s Vision 2030 strategy to diversify the economy and attract international capital.
The Council of Ministers, working with the Real Estate General Authority, will determine which areas are open to foreign ownership. While details are still to come, it’s expected that major urban centres such as Riyadh and Jeddah will be included. Sensitive areas like Makkah and Madinah will remain off‑limits.
This zoning approach balances investor access with national priorities, ensuring that growth is channelled into strategic urban hubs.
Foreign investors won’t just be limited to outright ownership. The law also provides for:
Long‑term leaseholds
Usufruct rights
Easements and similar interests
In addition, foreign residents will be able to own one residential property outside the designated zones for personal use. Corporate entities — from listed companies to investment funds — can acquire real estate for business operations and staff housing, subject to regulatory approval.
Every transaction will need to be registered with the national Real Estate Registry to be legally valid. The Real Estate General Authority has also been empowered to impose a transfer fee of up to 5% of the property’s value on disposals by non‑Saudis.
The finer details — including registration procedures, fee structures, and the exact boundaries of permitted zones — will be clarified in the Implementing Regulations, expected within 180 days of the law’s publication.
For international investors, this reform signals a more open and transparent property market in Saudi Arabia. It creates new avenues for participation in one of the Middle East’s most ambitious urban development programmes, while still maintaining regulatory safeguards.
For Saudi policymakers, it’s another step toward Vision 2030, designed to diversify the economy, attract foreign capital, and stimulate real estate growth.
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