A surge of global mobility among India’s ultra-wealthy is reshaping the landscape of cross-border wealth, and the UAE, with Dubai at its core, stands out as a premier destination. The drive behind this movement includes business expansion, access to international markets, and education for future generations, amplified by the disruptions of the COVID-19 era. As Indian HNWIs relocate, invest, and establish footholds abroad, banks like Julius Baer have refined their regional approach to accommodate evolving preferences. This article explores how Dubai’s allure translates into strategic opportunities for private banks, particularly Julius Baer, and how NRIs and UAE-based Indians navigate cross-border wealth management in a rapidly changing global economy.
Dubai and the UAE: The magnet for global Indian wealth and Julius Baer’s regional strategy
Dubai has positioned itself as a pivotal financial hub that blends proximity to India with a favorable tax environment, investor-friendly regulations, and a business-friendly culture that minimizes friction for international investors. The city’s status as a gateway to vast regional and global markets makes it attractive for high-net-worth Indians seeking diversification beyond their home country. In recent years, the UAE’s own residency framework, notably the Golden Visa program, has played a decisive role by offering long-term residency options to investors, professionals, and entrepreneurs. This policy support, combined with a diversified economy and a robust financial services ecosystem, has accelerated the relocation and wealth placement of affluent Indians.
Julius Baer recognized Dubai’s strategic importance early and has maintained a strong global NRI presence in the region since 2011. In the current year, the bank has further strengthened its footprint by bringing on board several experienced bankers to better serve an expanding client base. This move is consistent with Julius Baer’s broader strategy: leveraging the Global India platform to enable NRIs to invest seamlessly across high-growth international markets and in opportunities back home in India. In doing so, the bank reinforces its commitment to helping clients achieve their global wealth ambitions with integrated cross-border solutions.
The UAE as a global wealth hub: drivers and implications
The UAE’s appeal is anchored in multiple structural advantages. First, Dubai’s geographic location affords easy access to Asian, European, and Middle Eastern markets, enabling investors to diversify across geographies without significant relocation barriers. Second, the tax regime, while increasingly nuanced, generally remains favorable for international investors relative to many other jurisdictions, enhancing net returns after tax. Third, the regulatory framework is consistently investor-friendly, emphasizing transparency, rule-based processes, and a culture of entrepreneurship that supports private wealth activities—from asset management to family office operations.
A fourth critical factor is the ease of doing business, which lowers entry barriers for new investment vehicles, asset classes, and wealth-planning structures. The UAE also fosters a culture of innovation in financial services, evidenced by the growing sophistication of local banks, wealth managers, and advisory firms. The Golden Visa program adds a further layer of appeal by granting long-term residency to wealthy individuals and their families, reinforcing the UAE’s position as a welcoming, stable home for global capital. Taken together, these elements create an ecosystem where Indian NRIs can establish residency, structure assets, and participate in the UAE’s expanding financial markets with confidence.
Julius Baer’s regional product and service approach
For Julius Baer, the Dubai chapter is about more than presence—it is about tailored, multi-jurisdictional wealth management. The bank emphasizes cross-border capabilities that allow NRIs to manage wealth across multiple jurisdictions with a cohesive strategy. This includes onshore and offshore coordination, a robust India Connectivity framework, and a client-centric approach that aligns with clients’ long-term wealth ambitions. By integrating its Global India platform with a global footprint, Julius Baer can provide access to a broad spectrum of investment opportunities, structured solutions, and estate planning structures that bridge India, the UAE, and other major markets, such as the United States and Switzerland.
The broader market context: regional growth and wealth creation
Beyond individual client movements, market indicators highlight a broader migration of wealth into the UAE. The UAE consistently records high net inflows of millionaires, with Dubai and Abu Dhabi serving as major hubs for family offices and high-net-worth asset managers. In this context, the bank’s strategy involves expanding local teams with seasoned relationship managers and senior investment advisory professionals, focusing on capabilities that support complex, multi-jurisdiction wealth orchestration. The emphasis on Dubai aligns with a larger global trend where wealth centers are increasingly converging around cities that offer connectivity, regulatory clarity, and a supportive ecosystem for long-term wealth preservation and growth.
Inward migration dynamics and their impact on wealth planning
A key dynamic fueling Julius Baer’s strategy is the ongoing rise of NRIs who maintain financial interests across multiple countries. The cross-border dimension of wealth means clients require seamless, integrated planning that respects regulatory nuances, tax regimes, and estate planning requirements across jurisdictions. The bank’s integrated model—combining onshore and offshore capabilities—enables clients to structure their wealth for long-term security and growth while optimizing efficiency and risk management across borders. The UAE’s role as a hub for such activity is thus not only a matter of current inflows but also of sustained, strategic growth in cross-border wealth management.
Key takeaways for clients and advisors
- Dubai’s position as a proximate, business-friendly, and tax-advantaged hub makes it an attractive anchor for Indian NRIs seeking diversified, international exposure.
- The Golden Visa and related residency options provide stability and certainty for families planning multi-decade wealth plans in the region.
- A credible, globally integrated wealth manager like Julius Baer can serve as a bridge between Indian roots, UAE opportunities, and global markets, offering a unified approach to asset allocation, estate planning, and cross-border transactions.
Investment trends among NRIs in the UAE: asset classes gaining traction beyond real estate
NRIs living in the UAE are expanding their portfolios beyond traditional real estate to embrace a broader suite of financial assets. This shift reflects a maturation of wealth strategies in a dynamic, interest-rate-sensitive global environment. The trajectory includes greater allocations to financial assets, alternative investments, and globally diversified portfolios, with a growing appetite for sophisticated vehicles that span private markets and structured solutions.
Diversification away from real estate
Historically, real estate has been a dominant pillar in the portfolios of UAE-based NRIs due to its tangible nature, potential rental income, and perceived stability. However, clients are increasingly seeking diversification to reduce concentration risk and to capture a broader set of return drivers. This diversification trend encompasses several asset classes:
- Global equities: Access to top-performing markets and companies beyond one’s home country.
- Private equity and venture capital: Participation in private markets with potential for meaningful growth and meaningful control over investments.
- Structured products and alternative investments: Investment structures designed to optimize risk-adjusted returns and tailor risk profiles to client needs.
Growth in alternative and global assets
There is a clear preference for alternative strategies that can offer non-correlated returns, liquidity management, and enhanced diversification. Private equity and venture capital are attracting attention as investors seek exposure to innovative business models and growth-stage companies. Structured solutions are valued for their ability to align risk and return with individual client objectives, enabling more precise wealth planning. The UAE environment, with its sophisticated financial infrastructure, supports the execution and monitoring of such products.
Crypto as a measured component of allocations
Cryptocurrencies and blockchain-based assets are receiving attention as an additional alpha source within diversified portfolios. While the allocation to crypto remains relatively modest within overall holdings, it reflects a broader willingness to explore high-conviction, frontier technologies. This reflects the modern investor’s appetite for digital assets alongside traditional instruments, with risk controls, governance, and custody arrangements designed to protect client interests.
Fixed income in a rising-rate world
As global interest rates trend higher, fixed-income instruments are becoming more attractive to investors seeking reliable income streams and capital preservation. The UAE market, together with global bond markets, provides opportunities across government and corporate debt, as well as liquidity-enhancing products. For NRIs, a well-structured fixed-income sleeve can play a critical role in stabilizing portfolios and financing long-term goals, such as education, retirement, and intergenerational wealth transfer.
How Julius Baer responds to these shifts
Julius Baer has recognized evolving investment patterns among NRIs and has adapted by offering tailored wealth-management solutions aimed at constructing globally diversified portfolios. The emphasis is on depth of product capabilities, research-backed strategies, and a client-centric approach to asset allocation. By combining robust onshore expertise with offshore capabilities, Julius Baer can design investment frameworks that balance growth potential with risk management, liquidity needs, and tax considerations across jurisdictions.
Practical implications for clients
- A diversified portfolio that incorporates global equities, private markets, and structured products can improve risk-adjusted returns and resilience.
- A measured exposure to cryptocurrencies within the broader portfolio can capture potential upside while maintaining risk controls.
- An enhanced fixed-income strategy can provide ballast in volatile markets and support predictable cash flows for long-term needs.
- Cross-border allocation requires careful coordination of tax, regulatory, and estate-planning considerations to preserve wealth across generations.
Cross-border wealth structuring for Indian clients: India, the UAE, and beyond
Cross-border wealth management requires a nuanced comprehension of the regulatory environments, tax implications, and estate-planning frameworks across multiple jurisdictions. Julius Baer’s Global India franchise, combined with its expansive global network, offers a uniquely integrated approach to onshore and offshore wealth management. The bank positions itself among a select group of institutions capable of facilitating seamless cross-border wealth management for NRIs who want to manage wealth across multiple jurisdictions, including India, the UAE, and the United States.
The four-hub model and onshore-offshore collaboration
Julius Baer operates through a four-hub model—Hong Kong, Singapore, Dubai, and Zurich—supported by offshore and onshore teams that collaborate to deliver integrated solutions. This structure enables a close alignment between India-based teams and international desks, ensuring that clients receive consistent advice and execution across markets. The model’s strength lies in its ability to coordinate domestic and cross-border wealth planning, including investment strategies, estate planning, and regulatory compliance across jurisdictions.
The Wealth Report and implications for Indian UHNWIs
According to a major industry study, the number of ultra-rich Indians is projected to rise substantially by 2028—by about 50.1 percent to reach approximately 19,908 individuals, up from 13,263 in 2023. This growth implies a broadening base of clients whose financial interests span multiple nations, including the UAE, India, and the United States. For Julius Baer, this signals an expanded opportunity to serve cross-border families with complex needs, ranging from cross-border asset allocations to multi-country estate planning and philanthropic considerations.
Deep local expertise and structured wealth planning
Wealth management across borders demands a sophisticated understanding of local investment regulations, tax regimes, inheritance laws, and trust and estate planning tools. Julius Baer emphasizes in-house wealth planning specialists who help clients structure their wealth to maximize long-term security and growth. This approach reduces friction for clients who require consistent wealth delivery across generations, while ensuring that cross-border strategies remain compliant and tax-efficient.
Expansion plans in Dubai and Singapore: alignment with the NRI client base
With plans to expand teams in Dubai and Singapore, Julius Baer is aligning its footprint with the needs of growing Indian and UAE-based wealth. Both Dubai and Singapore are recognized as premier centers for ultra-high-net-worth individuals and family offices, each offering strategic advantages. Dubai serves as a gateway between Europe and Asia with a robust investment ecosystem, while Singapore provides political stability, rigorous asset preservation, and a strong framework for family offices. The expansion reinforces the bank’s commitment to supporting multi-jurisdictional clients through dedicated relationship managers and senior investment-advisory professionals, reinforcing the global NRI strategy.
Implications for affluent Indian clients and the broader strategy
- The expansion supports a broader capability to manage cross-border wealth across India, UAE, and other major markets.
- Clients can anticipate enhanced access to onshore and offshore product platforms, including India-focused funds and proprietary research, to balance growth and diversification.
- A deeper on-the-ground presence in Dubai and Singapore provides closer proximity to client needs and faster execution, improving client experience and outcomes.
The business rationale for cross-border connectivity
A core rationale behind the cross-border approach is that a growing share of Indian wealth holds interests across multiple countries. Managing these assets effectively requires a synchronized, end-to-end framework that integrates investment selection, legal structuring, tax efficiency, and estate planning across borders. Julius Baer’s integrated model is designed to meet this requirement, offering clients a coherent long-term strategy rather than a collection of siloed solutions.
Dubai and Singapore as global hubs for UHNW families and cross-border wealth considerations
Dubai and Singapore have established themselves as premier destinations for ultra-high-net-worth individuals seeking stable, future-proofed environments for wealth planning. The two cities are widely recognized for their strong financial ecosystems, regulatory clarity, and alignment with long-term family-office objectives.
Dubai: a strategic investment gateway and family-office hub
The UAE’s commercial and financial landscape positions Dubai as a critical investment gateway between Europe and Asia. It offers legal stability and investor-friendly regulations comparable in spirit to other major wealth hubs, with a particular emphasis on family offices and long-term wealth planning. The city’s growing role in hosting family offices underscores its ambition to become a leading global wealth center. Indians already account for a substantial share of Dubai’s startup ecosystem, with this balance expected to grow further as the UAE’s Golden Visa program continues to attract talent and investment.
The Golden Visa’s long-term residency support is particularly impactful for family offices and HNWIs who need stability and continuity for multi-generational planning. The anticipated contribution from family offices and high-net-worth individuals to the UAE economy—projected to reach around $500 billion over the next three years—highlights the scale of capital flowing through the region and the long-term economic implications for wealth management and infrastructure development.
In tandem with the UAE’s growth story, Julius Baer has been actively expanding its Dubai presence by hiring experienced professionals who specialize in relationship management, investment advisory, and wealth planning. This expansion is designed to strengthen the bank’s ability to serve the needs of UAE-based Indians and other NRIs with sophisticated cross-border requirements.
Singapore: stability, succession planning, and family offices
Singapore has earned recognition as a stable environment that emphasizes long-term asset preservation, succession planning, and robust family-office services. Its focus on governance, transparency, and a strong regulatory framework makes it an attractive venue for UHNW families seeking to consolidate wealth and manage intergenerational wealth transfer. For Indian UHNWIs and NRIs, Singapore offers a complementary hub to Dubai, enabling access to Asia-Pacific markets and a high level of professional services, including advanced wealth planning, estate planning, and asset protection strategies.
The strategic emphasis on both Dubai and Singapore in Julius Baer’s planning reflects a dual-hub approach designed to serve diversified client needs. Dubai’s proximity to India and its role as a gateway to the Middle East and Europe, combined with Singapore’s reputation for stability and long-term wealth preservation, creates a powerful, geographically balanced platform for global NRIs and UHNW families.
The role of the UAE in the broader regional wealth ecosystem
Indians comprise a substantial portion of Dubai’s startup ecosystem, reinforcing the city’s status as a dynamic ecosystem for entrepreneurship and wealth creation. The UAE’s Golden Visa program has become a significant lever for attracting long-term residency and investment, strengthening the country’s position as a prospective anchor for family offices and global wealth management. The three-year outlook suggests continued growth in family office activity and a sustained increase in the capital deployed by UHNWIs in the UAE.
Strategic priorities for Julius Baer in these hubs
- Targeted expansion of client-facing capabilities, including relationship managers and senior investment advisers, in Dubai and Singapore to serve growing cross-border needs.
- Enhancement of onshore-offshore connectivity to support seamless multi-jurisdiction wealth structuring and efficient execution.
- Strengthened access to India-focused research and funds to meet the demand for onshore-offshore investment opportunities among NRIs.
The next generation of affluent Indians: changing expectations for private bankers
The profile of affluent Indian clients is evolving. The previous generation, often patriarchs, tended to favor tangible assets such as real estate. In contrast, the next generation—comprising millennials and Gen Z—exhibits a broader, more dynamic approach to wealth management. This younger cohort is more likely to seek exposure to private equity, venture capital, and even cryptocurrencies, with a greater emphasis on digital channels, comprehensive financial planning, and global diversification. Many in this generation are actively establishing or leading their own family offices, taking direct responsibility for investment decisions.
Shifts in investment goals and risk appetites
The new generation’s approach emphasizes diversification across asset classes and geographies. They value liquidity and flexibility to adapt to evolving life stages, whether expanding businesses, funding education, or preparing for intergenerational transfers. They prioritize not just returns but also wealth preservation, estate planning, trusted governance structures, and clear succession plans that align with their long-term personal and professional ambitions.
The advisor’s role in a digital-first, globally oriented client base
Private bankers must respond to these changes by integrating technology, data analytics, and forward-looking planning into their advisory models. Clients expect tailored solutions that reflect their global footprint, multi-jurisdictional requirements, and a proactive approach to risk management. This means designing investment strategies that can be implemented across borders with consistency, clarity, and strong governance. The ability to deliver curated access to private equity, venture capital, and sophisticated derivative strategies, while maintaining rigorous compliance and reporting, becomes a differentiating factor for banks like Julius Baer.
Family offices and direct investment activities
As more families institutionalize their wealth through family offices, there is an increased emphasis on governance structures, dedicated investment committees, and professional management of private markets. The next generation often takes the lead in articulating their family’s mission, impact objectives, and intergenerational wealth-transfer strategies. Private banks are increasingly expected to support these family offices through bespoke advisory services, governance support, and a deep bench of investment opportunities across sectors and geographies.
Implications for Julius Baer’s advisory model
- The advisory model must be adaptable to digital-first clients who expect seamless, high-touch service that is still deeply personalized.
- There is a growing demand for integrated solutions that combine private markets with traditional asset classes, all under a holistic wealth plan.
- Family governance and succession planning are central to long-term client relationships, requiring specialized expertise in estate planning, trust structures, and governance frameworks.
Offshore-onshore connectivity for UAE-based Indians: how Julius Baer enables seamless cross-border wealth management
The concept of offshore-onshore connectivity is central to a modern cross-border wealth-management approach. For UAE-based Indians, an integrated model that links onshore India operations with offshore hubs and local presence in the UAE offers practical advantages in asset allocation, tax efficiency, and succession planning. Julius Baer emphasizes a tightly integrated RM model that ensures a smooth interface between onshore and offshore teams across multiple hubs, maximizing collaboration and client outcomes.
The integrated RM model and multi-hub collaboration
Julius Baer’s model includes dedicated India Connectivity Desks both onshore in India and offshore. This structure fosters close collaboration between onshore India teams and offsite specialists in hubs like Hong Kong, Singapore, Dubai, and Zurich. For clients, this translates into a cohesive banking experience with consistent standards, policies, and execution quality, regardless of jurisdiction. The approach reduces the historical frictions of cross-border wealth management, improving efficiency and client satisfaction.
Access to a multi-centre booking framework and India-focused products
Clients benefit from access to multiple booking centers, including India, which enables more efficient execution across markets. In addition, Julius Baer offers a compelling product platform that includes proprietary research from the bank’s global research desk and exclusive in-house India-focused funds. This combination ensures clients can capitalize on India’s high-growth market while maintaining global diversification and risk controls.
Why this connectivity matters for NRIs
For NRIs managing wealth between India, the UAE, and other regions such as the US, connectivity matters for several reasons:
- It enables seamless cross-border investments, including onshore investments in India and offshore opportunities in other jurisdictions.
- It supports integrated estate planning and tax optimization strategies that account for cross-border income, inheritance laws, and local regulatory requirements.
- It provides access to a cohesive research and product platform that aligns with clients’ long-term goals and risk tolerance.
The client impact: practical implications
- Clients can structure their wealth to optimize tax efficiency and regulatory compliance across jurisdictions.
- They gain consistent access to research, funds, and investment opportunities across markets.
- The integrated model fosters efficient wealth transfer and governance across generations, aligning with the next generation’s expectations and family-office practices.
Practical challenges in wealth management: staying ahead in a highly globalized world
Affluent individuals face a suite of complex challenges as they manage wealth across borders. The modern lifestyle—running businesses in one country while children study or work in another—creates regulatory, tax, and compliance considerations that are more intricate than in the past. The key challenges span governance, risk management, and multi-jurisdictional planning, all of which demand sophisticated, multi-disciplinary solutions from private banks.
Cross-border complexities and regulatory variances
Wealth management across multiple countries requires a deep understanding of local regulations and how they interact. This includes investment restrictions, tax treatment of income and gains, and the rules governing estate planning, trusts, and succession planning. Clients seek partners who can navigate these complexities with precision, ensuring that strategies are compliant, efficient, and aligned with long-term objectives.
Multi-generational wealth transfer and succession planning
A critical strategic concern for families is wealth transfer across generations. Many families confront a high need for well-structured intergenerational wealth-transfer plans that protect assets, ensure continuity, and preserve family governance. Studies and practical observations suggest that a significant share of heirs change their wealth advisors after inheritance, underscoring the importance of trust-based relationships, transparent governance, and a scalable, durable approach to wealth management.
Identifying high-quality investment opportunities
In a dynamic and uncertain global environment, finding investment opportunities that balance risk and reward can be challenging. Clients require access to high-quality opportunities across markets and asset classes, supported by rigorous due diligence, transparent reporting, and alignment with clients’ risk appetite and time horizon. Private banks differentiate themselves by offering curated opportunities, robust risk management, and a disciplined investment process that maintains alignment with client objectives.
The role of private banks in addressing these challenges
Leading wealth managers address these challenges through a combination of tailored investment solutions, multi-jurisdictional wealth structuring, and access to exclusive private-market opportunities. They provide a structured framework for risk management, compliance, and governance, ensuring that families can focus on growth, security, and legacy. This approach is especially crucial for NRIs who must-coordinate cross-border investments, tax planning, estate planning, and family governance across several jurisdictions.
The client-centric takeaway
- A cross-border, integrated approach helps clients manage complexity and optimize outcomes.
- Strong governance and structured succession planning are essential to secure wealth across generations.
- Access to exclusive private-market opportunities, research, and India-focused funds enhances diversification and growth potential while preserving risk controls.
Conclusion
The confluence of Dubai’s appeal as a regional wealth hub, the UAE’s residency incentives, and Julius Baer’s strategically integrated cross-border platform is reshaping how Indian NRIs and UAE-based Indians approach private banking. The migration of wealth, the expansion of NRIs into a broader set of asset classes, and the rise of multi-jurisdiction family offices are all driving demand for sophisticated, integrated wealth-management solutions. Julius Baer’s ongoing commitment to expanding in Dubai and Singapore, the strengthening of its Global India platform, and its emphasis on offshore-onshore connectivity reflect a strategic effort to serve a growing, globally connected client base with expertise across India, the UAE, and major global markets.
As the next generation of affluent Indians defines new expectations—from private equity and venture capital exposure to cryptocurrencies and digital-first wealth planning—the private-banking industry must evolve. The combination of robust regional hubs, a global research platform, and a capable, integrated advisory model positions Julius Baer and similar institutions to meet these evolving needs. The UAE’s role as a dynamic wealth center, fuelled by population growth, entrepreneurship, and policy-driven incentives, will continue to shape cross-border wealth management for years to come. For NRIs and UAE-based Indians, the opportunity remains substantial: to build globally diversified, well-structured portfolios that leverage the strengths of multiple markets while ensuring enduring wealth, governance, and family legacy.