Executive Summary
The Saudi British Joint Business Council and Jersey Finance convened leading practitioners in London for an examination of international private wealth structures serving Saudi family offices operating within an increasingly complex global financial landscape. This invitation only roundtable, moderated by Faizal Bhana, Director Middle East and Africa at Jersey Finance, brought together expertise from across the Kingdom of Saudi Arabia, the United Kingdom and Jersey to address the evolving needs of ultra-high net worth Saudi families seeking new wealth management solutions.
The discussions revealed a sector experiencing rapid transformation. Kicking off the discussions, Faizal Bhana observed how Saudi family offices have evolved from traditional wealth preservation models characterised by conservative real estate holdings and limited international exposure toward sophisticated, globally diversified investment strategies incorporating alternative assets, venture capital, and emerging technologies. This evolution, explained Faizal Bhana, reflects both generational change within Saudi families and the broader economic transformation occurring under Vision 2030.
Market dynamics indicate a substantial opportunity for international financial centres (IFC). The ultra-high net worth population within Saudi Arabia has tripled over the past decade, with projections suggesting continued exponential growth driven by economic diversification and geopolitical considerations. PwC estimates indicate that between £500-700 billion will pass through Saudi Arabia during the current decade, representing one of the largest wealth
transfer events in modern history.
Jersey’s positioning as a leading IFC, combined with its Islamic finance expertise, established trust law framework, and partnership ecosystem with the City of London, provides attractive structural solutions for Saudi families. The jurisdiction’s robust trust legislation offers protection for families seeking to establish structures independent of Sharia inheritance and investment laws, whilst maintaining sufficient flexibility to accommodate those preferring compliant arrangements.
Regulatory sophistication across the Gulf Cooperation Council (GCC) region has introduced new compliance requirements, creating demand for established IFCs capable of providing genuine substance and professional oversight. The convergence of these factors suggests sustained growth opportunities for practitioners able to navigate the complex intersection of Islamic finance principles, international tax considerations, and family governance requirements.
Read the full post-event report here: Jersey Finance Roundtable – Post Event Report
