Lombard Odier Group revealed the results from its 2024 United Arab Emirates (UAE) Expat Study

Lombard Odier Group, a global wealth and asset manager with a 60-year legacy in the Middle East, revealed the results from its 2024 United Arab Emirates (UAE) Expat Study, which focusses on the needs, goals and experiences of high-net-worth (HNW) expatriates living in the region.

Key findings reveal a strong and growing demand for sophisticated wealth management advisory services, fuelled by low levels of familiarity with local regulations and existing wealth planning arrangements, as well as a growing intent from HNW individuals to remain and/or retire in the region.

The study highlights the strong draw of the UAE for Western expats, more than 40% of whom cite high quality of life and investment opportunities as the primary drivers for moving to the region. Younger HNWs primarily locate for business purposes, for example to benefit from the region’s strong regulatory or legal framework (29%) or to create a start-up (25%). A quarter of expats also stated their desire to settle in the region permanently, a figure that rises to 49% amongst those aged 51 and above.

Amer Malik, Head of Middle East International at Lombard Odier Group commented: “In the dynamic wealth management landscape of the UAE, the growing HNW expatriate community is increasingly seeking sophisticated and trusted advisors to help strengthen their knowledge across a range of issues, from wealth preservation and international wealth transfer to the taxation and regulatory implications of a relocation to the UAE.